MongoDB (NASDAQ:MDB) Releases Earnings Results, Beats Estimates By $0.14 EPS

MongoDB (NASDAQ:MDB) issued its quarterly earnings data on Thursday. The company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.14, FiscalAI reports. MongoDB had a negative return on equity of 1.03% and a negative net margin of 2.89%.The firm had revenue of $687.62 million during the quarter, compared to the consensus estimate of $664.53 million.

MongoDB Stock Performance

Shares of MDB traded up $31.22 during trading hours on Thursday, hitting $325.68. The stock had a trading volume of 6,551,419 shares, compared to its average volume of 1,878,309. MongoDB has a 12-month low of $182.43 and a 12-month high of $444.72. The firm has a market cap of $26.17 billion, a P/E ratio of -370.09 and a beta of 1.48. The company’s fifty day simple moving average is $271.03 and its 200 day simple moving average is $333.98.

Insider Transactions at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 6,000 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $314.98, for a total value of $1,889,880.00. Following the transaction, the director directly owned 470,896 shares of the company’s stock, valued at $148,322,822.08. This trade represents a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hope F. Cochran sold 1,566 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $249.33, for a total value of $390,450.78. Following the transaction, the director owned 24,093 shares in the company, valued at approximately $6,007,107.69. This represents a 6.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 31,566 shares of company stock valued at $8,744,791 in the last quarter. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

Several hedge funds and other institutional investors have recently bought and sold shares of MDB. Geneos Wealth Management Inc. lifted its position in shares of MongoDB by 79.7% during the second quarter. Geneos Wealth Management Inc. now owns 221 shares of the company’s stock worth $46,000 after purchasing an additional 98 shares in the last quarter. Mcguire Capital Advisors Inc. acquired a new stake in MongoDB during the 4th quarter valued at $84,000. Hollencrest Capital Management grew its holdings in MongoDB by 129.2% during the 4th quarter. Hollencrest Capital Management now owns 275 shares of the company’s stock valued at $115,000 after purchasing an additional 155 shares in the last quarter. State of Wyoming increased its stake in MongoDB by 82.1% during the 2nd quarter. State of Wyoming now owns 641 shares of the company’s stock worth $135,000 after buying an additional 289 shares during the period. Finally, Quadrant Capital Group LLC acquired a new position in MongoDB in the 3rd quarter worth $156,000. 89.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on MDB shares. Wedbush dropped their price target on MongoDB from $440.00 to $380.00 and set an “outperform” rating for the company in a research report on Tuesday, March 3rd. Zacks Research upgraded MongoDB from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Canaccord Genuity Group lifted their price objective on MongoDB from $375.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday. Needham & Company LLC cut their price objective on shares of MongoDB from $500.00 to $300.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Finally, DA Davidson reduced their price objective on shares of MongoDB from $465.00 to $385.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. Twenty-six equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $374.13.

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.