iStock.com/kuppa_rock MongoDB Inc Forecast 2019
One tech stock investors should keep a close watch on in 2019 is MongoDB Inc (NASDAQ:MDB). The company’s share price has been on a tear since it went public in late 2017 and the stock forecast for MongoDB remains very bullish in 2019, with a price target of around $110.00 per share. Currently trading at $79.54, that price target would represent a full-year gain of 38.3%.
2018 was a record year of sorts for the stock market; just not the kind of record investors were looking for. The S&P 500 ended 2018 down 6.5% while the tech-heavy Nasdaq lost 4.3% of its value. It was the worst year for stocks since 2008 and the worst December on Wall Street since the Great Depression, with tech stocks ending a nine-year winning streak. That said, investors and analysts are upbeat for 2019, with many believing tech stocks will be the sector to beat in 2019.
To that end, MDB’s share price advanced an eye-watering 179% in 2018, making it one of the biggest tech winners of the year. The company posted strong, better-than-expected, double-digit revenue growth in the third quarter and provided robust guidance for the fourth quarter and fiscal 2019.
Admittedly, no one expects MDB’s share price to make the same kind of moves in 2019, but with the broader market expected to advance just 10% in 2019, an upward move of 25% would still be something to celebrate.
MongoDB is a general purpose database platform that helps brands support bigger data sets. Why is that important? At a basic level, social networks, e-commerce, and the Internet of Things collect customer data (names, addresses, e-mails, transaction history etc.). These data sets are analyzed and used to create personalized experiences for current customers