Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has MongoDB (MDB) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
MongoDB is a member of the Computer and Technology sector. This group includes 640 individual stocks and currently holds a Zacks Sector Rank of #7. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. MongoDB is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for MDB's full-year earnings has moved 35.8% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that MDB has returned about 96.9% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of 33.6% on a year-to-date basis. As we can see, MongoDB is performing better than its sector in the calendar year.
One other Computer and Technology stock that has outperformed the sector so far this year is Badger Meter (BMI). The stock is up 34.2% year-to-date.
In Badger Meter's case, the consensus EPS estimate for the current year increased 4.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, MongoDB belongs to the Internet - Software industry, a group that includes 146 individual stocks and currently sits at #107 in the Zacks Industry Rank. This group has gained an average of 43.8% so far this year, so MDB is performing better in this area.
In contrast, Badger Meter falls under the Instruments - Control industry. Currently, this industry has 7 stocks and is ranked #58. Since the beginning of the year, the industry has moved +16.9%.
Investors interested in the Computer and Technology sector may want to keep a close eye on MongoDB and Badger Meter as they attempt to continue their solid performance.
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