MongoDB Under Bearish Pressure Ahead Of Q2 — Will Analyst Optimism Spark A Rebound?

MongoDB Inc MDB will be reporting its second-quarter earnings on Thursday. Wall Street expects 49 cents in EPS and $464.046 million in revenues as the company reports after market hours.

The stock is down 34% over the past year and 39% YTD.

Let’s look at what the charts indicate for MondoDB stock and how the stock currently maps against Wall Street estimates.

MongoDB Stock Chart Shows Sustained Selling Pressure Ahead Of Q2 Earnings 

MongoDB (MDB) is exhibiting a strong bearish trend, with its current share price of $238.64 falling below its five, 20 and 50-day exponential moving averages (EMAs), signaling sustained selling pressure.

Chart created using Benzinga Pro

The stock remains below its eight-day simple moving average (SMA) of $248.07, 20-day SMA of $240.73, and 50-day SMA of $245.50, all reinforcing a bearish outlook.

Furthermore, the significant gap between the 200-day SMA of $345.09 and the current price suggests a prolonged downtrend.

Chart created using Benzinga Pro

The Moving Average Convergence Divergence (MACD) indicator at a negative 1.14 also aligns with a bearish sentiment, while the Relative Strength Index (RSI) of 41.94 indicates that MongoDB is neither overbought nor oversold, hence with no reversal in sight.

With the Bollinger Bands (25) ranging between $221.39 and $264.49, the stock is trading in the lower bearish band, which could imply continued downward pressure.

Read Also: MongoDB Options Trading: A Deep Dive into Market Sentiment

MongoDB Analysts See 38% Upside

Ratings & Consensus Estimates: The consensus analyst rating on MongoDB stock stands at a Buy with a price target of $364.89. The three most recent analyst ratings for MongoDB stock were released by Piper Sandler, Tigress Financial and Needham. With an average price target of $330, these ratings imply a 38.16% upside for the stock.

MDB Price Action: MongoDB stock was trading 2.5% lower at $232.84 at the time of publication Wednesday.

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