MongoDB (NASDAQ:MDB) Posts Quarterly Earnings Results, Beats Expectations By $0.18 EPS

MongoDB (NASDAQ:MDB) released its earnings results on Monday. The company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.18, FiscalAI reports. The business 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 Stock Down 1.1%

Shares of NASDAQ MDB traded down $3.46 during trading hours on Monday, hitting $325.01. 2,462,179 shares of the stock were exchanged, compared to its average volume of 1,650,222. MongoDB has a 12 month low of $140.78 and a 12 month high of $444.72. The firm has a fifty day moving average price of $385.52 and a 200-day moving average price of $350.92. The company has a market cap of $26.45 billion, a PE ratio of -373.57 and a beta of 1.40.

Insider Activity

In related news, Director Dwight A. Merriman sold 1,190 shares of the company’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $369.75, for a total transaction of $440,002.50. Following the transaction, the director directly owned 80,462 shares of the company’s stock, valued at $29,750,824.50. This represents a 1.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Roelof Botha sold 24,850 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $78,978,410. This represents a 11.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 61,354 shares of company stock valued at $25,114,994 in the last ninety days. 3.10% of the stock is currently owned by insiders.

Institutional Trading of MongoDB

A number of institutional investors have recently bought and sold shares of MDB. Mcguire Capital Advisors Inc. purchased a new stake in MongoDB during the 4th quarter worth approximately $84,000. T. Rowe Price Investment Management Inc. lifted its stake in shares of MongoDB by 0.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 574,987 shares of the company’s stock worth $241,317,000 after buying an additional 3,014 shares during the period. Compound Planning Inc. lifted its stake in shares of MongoDB by 45.1% during the fourth quarter. Compound Planning Inc. now owns 972 shares of the company’s stock worth $408,000 after buying an additional 302 shares during the period. Invesco Ltd. grew its holdings in shares of MongoDB by 16.9% during the fourth quarter. Invesco Ltd. now owns 1,063,613 shares of the company’s stock valued at $446,388,000 after buying an additional 153,445 shares during the last quarter. Finally, Corient Private Wealth LLC increased its position in shares of MongoDB by 481.7% in the 4th quarter. Corient Private Wealth LLC now owns 18,288 shares of the company’s stock valued at $7,675,000 after acquiring an additional 15,144 shares during the period. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MDB shares. Macquarie Infrastructure lifted their price objective on shares of MongoDB from $305.00 to $385.00 and gave the company a “neutral” rating in a report on Tuesday, December 2nd. Citizens Jmp raised their target price on shares of MongoDB from $435.00 to $475.00 and gave the stock a “market outperform” rating in a research report on Tuesday, December 2nd. Raymond James Financial began coverage on shares of MongoDB in a research note on Monday, December 15th. They set a “market perform” rating for the company. Truist Financial boosted their price target on MongoDB from $450.00 to $500.00 and gave the company a “buy” rating in a report on Wednesday, January 7th. Finally, Bank of America raised their price objective on MongoDB from $440.00 to $480.00 and gave the stock a “buy” rating in a report on Tuesday, December 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, MongoDB presently has an average rating of “Moderate Buy” and a consensus target price of $416.15.

MongoDB Company Profile

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.