Today’s Research Reports on Trending Tickers: Shopify and MongoDB
U.S. equities closed higher on Tuesday, driven by upbeat corporate earnings and strong economic data. According to the Federal Reserve, U.S. industrial production went up by 0.3 percent in September compared to Wall Street expectation of 0.1 percent increase. The Dow Jones Industrial Average jumped 2.17 percent to close at 25,798.42, while the S&P 500 Index 2.15 percent to close at 2,809.92. The Nasdaq Composite Index hiked 2.89 percent to close at 7,645.49.
Jim Smigiel, chief investment officer of absolute return strategies at SEI said that “the strongest gains in equity markets are behind us,” and that volatility is possibly a match for investors going onward as “chances of a surprise on the upside are lower than on the downside,” when referring to the broader U.S. economy.
RDI Initiates Coverage on:
Shopify’s stock jumped 7.46% Tuesday, to close the day at $145.83. The stock recorded a trading volume of 1,391,090 shares, which was below its three months average volume of 1,494,707 shares. In the last year, Shopify’s shares have traded in a range of 92.41 – 176.60. The share price has gained 57.81% from its 52 week low. The company’s shares are currently trading below their 200-day moving average. The stock’s 50-day moving average of $149.92 is above its 200-day moving average of $146.66. Shares of Shopify have fallen roughly 5.78 percent in the past month and are up 44.39 percent year-to-date.
Access RDI’s Shopify Inc. Research Report at:
On Tuesday, shares of MongoDB recorded a trading volume of 1,086,263 shares, which was above the three months average volume of 915,573 shares. The stock ended the day 7.92% higher at $70.30. The share price has fallen 17.54% from its 52 week high with a 52 week trading range of 24.62 – 85.25. The company’s shares are currently trading above their 200-day moving average. The stock’s 50-day moving average of $76.33 is above its 200-day moving average of $56.85. Shares of MongoDB have fallen roughly 14.26 percent in the past month and are up 136.86 percent year-to-date.
Access RDI’s MongoDB, Inc. Research Report at:
Our Actionable Research on Shopify Inc. (NYSE:SHOP) and MongoDB, Inc. (NASDAQ:MDB) can be downloaded free of charge at Research Driven Investing.
Research Driven Investing
We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.
RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.
Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.
For any questions, inquiries, or comments reach out to us directly at:
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.