MongoDB (NASDAQ:MDB) Releases FY 2023 Earnings Guidance

MongoDB (NASDAQ:MDB – Get Rating) updated its FY 2023 earnings guidance on Wednesday. The company provided earnings per share guidance of -$0.31–$0.16 for the period, compared to the consensus earnings per share estimate of -$0.37. The company issued revenue guidance of $1.17 billion-$1.19 billion, compared to the consensus revenue estimate of $1.18 billion. MongoDB also updated its Q2 2023 guidance to -$0.31–$0.28 EPS.

Shares of MongoDB stock opened at $241.00 on Wednesday. MongoDB has a 1 year low of $213.39 and a 1 year high of $590.00. The business has a 50 day moving average price of $314.36 and a 200 day moving average price of $386.27. The company has a market capitalization of $16.42 billion, a P/E ratio of -49.79 and a beta of 1.00. The company has a debt-to-equity ratio of 1.69, a current ratio of 4.16 and a quick ratio of 4.16.

MongoDB (NASDAQ:MDB – Get Rating) last issued its quarterly earnings data on Wednesday, June 1st. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of ($1.34) by $1.54. MongoDB had a negative net margin of 32.75% and a negative return on equity of 45.56%. The firm had revenue of $285.45 million for the quarter, compared to analyst estimates of $267.10 million. During the same quarter in the previous year, the business posted ($0.98) EPS. The firm’s revenue was up 57.1% compared to the same quarter last year. As a group, research analysts expect that MongoDB will post -5.09 EPS for the current fiscal year.

MDB has been the subject of several research analyst reports. Credit Suisse Group reduced their price target on shares of MongoDB from $650.00 to $500.00 and set an outperform rating for the company in a research report on Thursday, June 2nd. UBS Group increased their price target on shares of MongoDB from $315.00 to $345.00 and gave the stock a buy rating in a research note on Wednesday, June 8th. Citigroup raised their target price on shares of MongoDB from $405.00 to $425.00 in a research note on Thursday, June 2nd. Royal Bank of Canada increased their price target on shares of MongoDB from $325.00 to $375.00 in a report on Thursday, June 9th. Finally, Canaccord Genuity Group cut their price target on shares of MongoDB from $400.00 to $300.00 in a report on Thursday, June 2nd. One equities research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Buy and a consensus target price of $420.38.

In other MongoDB news, Director Hope F. Cochran sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 30th. The stock was sold at an average price of $429.30, for a total transaction of $429,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas Bull sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 31st. The shares were sold at an average price of $444.14, for a total value of $1,110,350.00. Following the completion of the sale, the insider now directly owns 17,904 shares of the company’s stock, valued at $7,951,882.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 90,809 shares of company stock worth $32,992,875. Corporate insiders own 5.70% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Metropolitan Life Insurance Co NY raised its holdings in MongoDB by 1.7% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 4,225 shares of the company’s stock worth $2,237,000 after purchasing an additional 69 shares during the period. Vident Investment Advisory LLC grew its position in shares of MongoDB by 2.9% in the fourth quarter. Vident Investment Advisory LLC now owns 2,989 shares of the company’s stock valued at $1,582,000 after purchasing an additional 85 shares in the last quarter. Penserra Capital Management LLC grew its position in MongoDB by 23.3% in the first quarter. Penserra Capital Management LLC now owns 546 shares of the company’s stock worth $241,000 after acquiring an additional 103 shares during the period. Geneos Wealth Management Inc. grew its position in MongoDB by 27.8% in the first quarter. Geneos Wealth Management Inc. now owns 574 shares of the company’s stock worth $254,000 after acquiring an additional 125 shares during the period. Finally, Panagora Asset Management Inc. lifted its stake in MongoDB by 9.8% during the first quarter. Panagora Asset Management Inc. now owns 1,977 shares of the company’s stock worth $877,000 after purchasing an additional 176 shares in the last quarter. 88.70% of the stock is owned by institutional investors.

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.

See Also