MongoDB (NASDAQ:MDB) Issues Quarterly Earnings Results

MongoDB (NASDAQ:MDB) released its quarterly earnings data on Monday. The company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.47 by $0.18, FiscalAI reports. The company had revenue of $695.07 million during the quarter, compared to the consensus estimate of $669.40 million. MongoDB had a negative return on equity of 1.12% and a negative net margin of 3.06%.

MongoDB Trading Down 1.1%

MDB traded down $3.46 during trading on Monday, hitting $325.01. 2,462,179 shares of the company traded hands, compared to its average volume of 1,650,222. The company has a market cap of $26.45 billion, a PE ratio of -373.57 and a beta of 1.40. The stock’s 50-day simple moving average is $385.52 and its two-hundred day simple moving average is $350.92. MongoDB has a 1 year low of $140.78 and a 1 year high of $444.72.

Insider Buying and Selling at MongoDB

In other news, Director Hope F. Cochran sold 1,566 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $421.85, for a total transaction of $660,617.10. Following the completion of the transaction, the director owned 25,659 shares in the company, valued at $10,824,249.15. This trade represents a 5.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Roelof Botha sold 24,850 shares of MongoDB stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $405.85, for a total value of $10,085,372.50. Following the completion of the sale, the director directly owned 194,600 shares in the company, valued at approximately $78,978,410. The trade was a 11.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 61,354 shares of company stock valued at $25,114,994 in the last 90 days. Insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On MongoDB

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Integrated Wealth Concepts LLC grew its holdings in MongoDB by 31.6% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,363 shares of the company’s stock valued at $239,000 after purchasing an additional 327 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of MongoDB by 55.0% during the first quarter. NewEdge Advisors LLC now owns 4,238 shares of the company’s stock valued at $743,000 after buying an additional 1,504 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of MongoDB during the second quarter valued at approximately $329,000. Cresset Asset Management LLC raised its holdings in shares of MongoDB by 13.4% in the second quarter. Cresset Asset Management LLC now owns 3,138 shares of the company’s stock worth $659,000 after buying an additional 370 shares during the period. Finally, Cerity Partners LLC lifted its stake in shares of MongoDB by 28.3% during the 2nd quarter. Cerity Partners LLC now owns 12,215 shares of the company’s stock worth $2,565,000 after acquiring an additional 2,697 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on MDB. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MongoDB in a research report on Monday, December 29th. Wedbush upped their price objective on MongoDB from $400.00 to $440.00 and gave the company an “outperform” rating in a research report on Tuesday, December 2nd. Zacks Research upgraded shares of MongoDB from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 3rd. Mizuho boosted their target price on shares of MongoDB from $250.00 to $310.00 and gave the company a “neutral” rating in a research report on Tuesday, December 2nd. Finally, Oppenheimer reduced their target price on shares of MongoDB from $490.00 to $425.00 and set an “outperform” rating for the company in a report on Wednesday, February 18th. Two analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $416.15.

About MongoDB

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.