MongoDB, Inc. (NASDAQ:MDB – Get Rating) shares gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $241.81, but opened at $262.89. MongoDB shares last traded at $271.98, with a volume of 20,853 shares trading hands. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of ($1.34) by $1.54. The company had revenue of $285.45 million during the quarter, compared to the consensus estimate of $267.10 million. MongoDB had a negative return on equity of 66.70% and a negative net margin of 35.12%. MongoDB’s quarterly revenue was up 57.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.98) earnings per share.
A number of analysts recently weighed in on the stock. Credit Suisse Group dropped their price objective on shares of MongoDB from $650.00 to $500.00 and set an “outperform” rating on the stock in a report on Thursday. Mizuho cut their price target on MongoDB from $325.00 to $270.00 and set a “neutral” rating on the stock in a report on Wednesday, May 18th. William Blair reissued an “outperform” rating on shares of MongoDB in a report on Tuesday, May 24th. 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 on the stock. Finally, Piper Sandler reduced their price target on MongoDB from $585.00 to $430.00 and set an “overweight” rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $440.56.
In other MongoDB news, CRO Cedric Pech sold 309 shares of the company’s stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $443.77, for a total transaction of $137,124.93. Following the completion of the sale, the executive now directly owns 46,135 shares of the company’s stock, valued at $20,473,328.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Dev Ittycheria sold 35,000 shares of MongoDB stock in a transaction that occurred on Friday, March 4th. The stock was sold at an average price of $309.78, for a total transaction of $10,842,300.00. The disclosure for this sale can be found here. Insiders sold a total of 122,809 shares of company stock worth $43,079,955 in the last ninety days. Corporate insiders own 5.70% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Northern Trust Corp lifted its position in shares of MongoDB by 3.1% in the fourth quarter. Northern Trust Corp now owns 405,648 shares of the company’s stock worth $214,731,000 after purchasing an additional 12,223 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of MongoDB during the 4th quarter valued at $200,000. TD Asset Management Inc. grew its holdings in shares of MongoDB by 153.9% during the 4th quarter. TD Asset Management Inc. now owns 525,000 shares of the company’s stock valued at $277,909,000 after acquiring an additional 318,259 shares in the last quarter. GraniteShares Advisors LLC purchased a new stake in shares of MongoDB during the fourth quarter worth $165,000. Finally, Kornitzer Capital Management Inc. KS acquired a new stake in MongoDB during the fourth quarter valued at $675,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.
The firm has a 50-day simple moving average of $343.10 and a two-hundred day simple moving average of $403.96. The company has a current ratio of 4.02, a quick ratio of 4.02 and a debt-to-equity ratio of 1.70. The company has a market capitalization of $18.58 billion, a price-to-earnings ratio of -57.38 and a beta of 1.01.
About MongoDB (NASDAQ:MDB)
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.