Score 7.8 (out of 10): MONGODB INC poised to rally +24.7% rally in 3 months

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What’s Going On Here?

MONGODB, the database software company, was named by Goldman Sachs as one of their top picks for 2022 as a company with ‘hyper-growth and product leadership’. Last month, the shares jumped +21% (Dec 7) after MongoDB released better-than-expected earnings, however the shares have given back those gains.

Why Now?

MONGODB INC has reached a new shorter-term low. Previously, during similar occasions, MONGODB INC shares had a median return of +24.7%, over the following 3 months based on 10 historical occasions with 8 of those showing positive returns (80% hit ratio). This buy signal for MONGODB INC received a high score of 7.8 (out of 10). This insight was generated on 2022-January-4 with last price of 465.37.

What’s This Company About?

MONGODB INC is in the Computer Software business. Based on the last 2 years’ risk/return profile, this asset is seen as Less Risky. ‘Wall Street’ analysts think the stock price will be worth 20.5% more (average). Ticker symbol: MDB US.

What’s My Risk / Reward and Time Horizon?

We found 3 months to be the optimal trade horizon, after testing a number of possible alternatives (accuracy of previous returns). Otherwise consider closing out this trade once the target level of 580.48 (+24.7%) has been reached. Based on MONGODB INC’s recent up and down swings, LongShortBets suggests considering to set a stop loss level for this insight at 391.57 (last price at 465.37), which is equivalent to a -15.9% decline.

Returns during similar periods:

The chart above shows the previous returns (in %) based on similar setups with the most recent ‘insight’ shown under (1), the second most recent ‘insight’ shown under (2), etc. 

Previous episodes:

9.6% (October-2021), 45.7% (July-2021), 28.1% (May-2021), -18.3% (March-2021), 78.7% (September-2020), 4.6% (June-2020), 44.9% (February-2020), 27.8% (October-2019), -11.6% (July-2019), 21.6% (April- 2019).

Historical Chart:

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Summary:

NameMONGODB INC
ViewUp
Star (1 to 10)7.8
Target+24.7%
Time3 months
Hit Rate80%

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