MDB - MongoDB Stock: Still a Good Investment But Not a Buy
2023-06-27 10:45:00 ET
After a lackluster start to 2023, Wall Street finally started paying attention to MongoDB's (NASDAQ: MDB) growth potential over the last month. That is, of course, after management presented first-quarter fiscal 2024 results showing good revenue growth and optimism about the business environment and raised fiscal 2024 guidance. The stock popped 28% higher on the news.
The question you might have as an investor is whether you can still invest in MongoDB stock after its huge run-up or whether you missed the rally. Let's discuss this.
MongoDB's stock trades at a price-to-sales (P/S) ratio of 19.24 and a forward P/S ratio of 17.31, which is very high compared to many other high-growth cloud companies . (As seen in the chart below.)
For further details see:
MongoDB Stock: Still a Good Investment But Not a Buy