MongoDB (NASDAQ:MDB) Announces Earnings Results, Beats Estimates By $0.48 EPS

MongoDB (NASDAQ:MDB) posted its quarterly earnings data on Monday. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.48, Briefing.com reports. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. The firm had revenue of $529.40 million for the quarter, compared to the consensus estimate of $497.39 million. During the same quarter in the previous year, the company earned $0.96 EPS. The business’s revenue for the quarter was up 22.3% compared to the same quarter last year.

MongoDB Trading Down 16.9 %

NASDAQ:MDB opened at $290.90 on Wednesday. The firm has a market cap of $21.49 billion, a price-to-earnings ratio of -96.32 and a beta of 1.17. MongoDB has a 12 month low of $212.74 and a 12 month high of $509.62. The company has a quick ratio of 5.03, a current ratio of 5.03 and a debt-to-equity ratio of 0.84. The company’s 50 day moving average is $291.56 and its 200-day moving average is $268.79.

Insiders Place Their Bets

In other news, Director Dwight A. Merriman sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $349.17, for a total transaction of $698,340.00. Following the sale, the director now directly owns 1,124,006 shares in the company, valued at approximately $392,469,175.02. The trade was a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CRO Cedric Pech sold 302 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total transaction of $77,387.50. Following the transaction, the executive now directly owns 33,440 shares of the company’s stock, valued at $8,569,000. The trade was a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,600 shares of company stock valued at $7,255,929 in the last quarter. Insiders own 3.60% of the company’s stock.

Analyst Ratings Changes

MDB has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price target on shares of MongoDB from $340.00 to $350.00 and gave the company an “overweight” rating in a report on Tuesday. Scotiabank increased their target price on MongoDB from $295.00 to $350.00 and gave the company a “sector perform” rating in a report on Tuesday. Oppenheimer lifted their price target on MongoDB from $350.00 to $400.00 and gave the company an “outperform” rating in a report on Tuesday. Bank of America increased their price objective on MongoDB from $300.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $425.00 target price on shares of MongoDB in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $370.48.

MongoDB Company Profile

MongoDB, Inc, together with its subsidiaries, provides general purpose database platform worldwide. The company provides MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premises, or in a hybrid environment; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.