MongoDB (NASDAQ:MDB) Releases Q2 2023 Earnings Guidance

MongoDB (NASDAQ:MDBGet Rating) issued an update on its second quarter 2023 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of -$0.31–$0.28 for the period, compared to the consensus estimate of -$0.14. The company issued revenue guidance of $279.00 million-$282.00 million, compared to the consensus revenue estimate of $277.85 million.MongoDB also updated its FY 2023 guidance to -$0.31–$0.16 EPS.

Shares of NASDAQ MDB traded up $4.66 during midday trading on Wednesday, hitting $241.81. 3,382,642 shares of the company’s stock were exchanged, compared to its average volume of 1,457,919. The company has a debt-to-equity ratio of 1.70, a current ratio of 4.02 and a quick ratio of 4.02. The stock’s 50 day moving average price is $346.36 and its 200-day moving average price is $405.10. The firm has a market cap of $16.34 billion, a P/E ratio of -51.01 and a beta of 0.98. MongoDB has a twelve month low of $213.39 and a twelve month high of $590.00.

MongoDB (NASDAQ:MDBGet Rating) last issued its quarterly earnings data on Tuesday, March 8th. The company reported ($1.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.25) by $0.05. The business had revenue of $266.50 million during the quarter, compared to the consensus estimate of $243.42 million. MongoDB had a negative return on equity of 66.70% and a negative net margin of 35.12%. The business’s revenue was up 55.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.01) earnings per share. On average, analysts expect that MongoDB will post -5.48 EPS for the current fiscal year.

A number of research firms have weighed in on MDB. Needham & Company LLC cut their target price on MongoDB from $626.00 to $362.00 and set a buy rating for the company in a research report on Wednesday, March 9th. Canaccord Genuity Group cut their target price on MongoDB from $560.00 to $400.00 in a research report on Wednesday, March 9th. Tigress Financial began coverage on MongoDB in a research report on Friday, February 11th. They issued a buy rating and a $630.00 target price for the company. Royal Bank of Canada initiated coverage on MongoDB in a research report on Tuesday, March 1st. They issued an outperform rating and a $505.00 target price for the company. Finally, UBS Group upgraded MongoDB from a neutral rating to a buy rating and increased their price objective for the company from $345.00 to $450.00 in a research report on Friday, March 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Buy and a consensus price target of $469.67.

In other MongoDB news, CEO Dev Ittycheria sold 35,000 shares of the business’s stock in a transaction on Friday, March 4th. The shares were sold at an average price of $309.78, for a total transaction of $10,842,300.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Hope F. Cochran sold 1,000 shares of the company’s stock in a transaction on Wednesday, March 30th. The stock was sold at an average price of $429.30, for a total transaction of $429,300.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 122,809 shares of company stock worth $43,079,955. Company insiders own 5.70% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of MDB. Advisors Asset Management Inc. increased its stake in shares of MongoDB by 16.5% in the fourth quarter. Advisors Asset Management Inc. now owns 1,636 shares of the company’s stock worth $866,000 after acquiring an additional 232 shares during the last quarter. Metropolitan Life Insurance Co NY increased its stake in shares of MongoDB by 1.7% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 4,225 shares of the company’s stock worth $2,237,000 after acquiring an additional 69 shares during the last quarter. Allstate Corp increased its position in MongoDB by 255.7% during the fourth quarter. Allstate Corp now owns 6,040 shares of the company’s stock worth $3,197,000 after buying an additional 4,342 shares during the last quarter. Vista Equity Partners Management LLC acquired a new position in MongoDB during the fourth quarter worth $23,454,000. Finally, Parametric Portfolio Associates LLC increased its position in MongoDB by 24.7% during the fourth quarter. Parametric Portfolio Associates LLC now owns 72,813 shares of the company’s stock worth $38,543,000 after buying an additional 14,435 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

MongoDB Company Profile (Get Rating)

MongoDB, Inc provides general purpose database platform worldwide. The company offers MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.

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Earnings History and Estimates for MongoDB (NASDAQ:MDB)

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