Equities Analysts Issue Forecasts for MongoDB, Inc.’s Q1 2024 Earnings (NASDAQ:MDB)

MongoDB, Inc. (NASDAQ:MDBGet Rating) – Equities research analysts at KeyCorp issued their Q1 2024 earnings per share (EPS) estimates for shares of MongoDB in a report issued on Sunday, November 20th. KeyCorp analyst M. Turits forecasts that the company will post earnings per share of ($1.30) for the quarter. KeyCorp currently has a “Overweight” rating and a $215.00 target price on the stock. The consensus estimate for MongoDB’s current full-year earnings is ($5.37) per share.

MongoDB (NASDAQ:MDBGet Rating) last announced its quarterly earnings data on Wednesday, August 31st. The company reported ($1.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.52) by ($0.17). MongoDB had a negative return on equity of 52.05% and a negative net margin of 33.43%. The business had revenue of $303.66 million during the quarter, compared to analysts’ expectations of $282.31 million. During the same quarter last year, the company posted ($1.15) EPS. MongoDB’s revenue for the quarter was up 52.8% compared to the same quarter last year.

MDB has been the subject of several other reports. Canaccord Genuity Group lifted their target price on shares of MongoDB from $300.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday, September 1st. Morgan Stanley lowered shares of MongoDB from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $368.00 to $215.00 in a report on Monday. Redburn Partners upgraded MongoDB from a “sell” rating to a “neutral” rating in a research note on Tuesday, October 18th. Credit Suisse Group reduced their target price on MongoDB from $500.00 to $400.00 and set an “outperform” rating for the company in a report on Thursday, September 1st. Finally, Citigroup lowered their price target on MongoDB from $450.00 to $445.00 and set a “buy” rating on the stock in a report on Thursday, September 1st. Three equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $345.90.

MongoDB Stock Performance

Shares of MongoDB stock opened at $150.77 on Wednesday. MongoDB has a 1 year low of $135.15 and a 1 year high of $570.58. The firm’s 50-day moving average is $182.68 and its 200 day moving average is $251.48. The stock has a market cap of $10.36 billion, a price-to-earnings ratio of -28.13 and a beta of 1.07. The company has a debt-to-equity ratio of 1.70, a current ratio of 4.02 and a quick ratio of 4.02.

Institutional Trading of MongoDB

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Independent Advisor Alliance raised its stake in shares of MongoDB by 21.2% during the first quarter. Independent Advisor Alliance now owns 531 shares of the company’s stock valued at $236,000 after acquiring an additional 93 shares in the last quarter. Venture Visionary Partners LLC purchased a new position in MongoDB during the 2nd quarter worth $28,000. Park Avenue Securities LLC bought a new stake in MongoDB during the 1st quarter valued at $232,000. Level Four Advisory Services LLC purchased a new stake in shares of MongoDB in the 1st quarter worth $480,000. Finally, Prospera Financial Services Inc purchased a new stake in shares of MongoDB in the 1st quarter worth $927,000. Hedge funds and other institutional investors own 89.85% of the company’s stock.

Insider Buying and Selling at MongoDB

In other news, insider Thomas Bull sold 502 shares of the stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $198.84, for a total transaction of $99,817.68. Following the completion of the transaction, the insider now directly owns 16,602 shares in the company, valued at approximately $3,301,141.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Thomas Bull sold 502 shares of MongoDB stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $198.84, for a total value of $99,817.68. Following the completion of the transaction, the insider now owns 16,602 shares in the company, valued at $3,301,141.68. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Archana Agrawal sold 663 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $345.55, for a total value of $229,099.65. Following the sale, the director now directly owns 2,080 shares in the company, valued at $718,744. The disclosure for this sale can be found here. Insiders sold 87,665 shares of company stock valued at $19,034,603 in the last 90 days. Insiders own 5.70% of the company’s stock.

About MongoDB

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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

Earnings History and Estimates for MongoDB (NASDAQ:MDB)

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