Month: June 2023

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MongoDB (NASDAQ:MDB – Get Rating) had its target price increased by stock analysts at The Goldman Sachs Group from $420.00 to $440.00 in a research note issued on Friday, The Fly reports. The Goldman Sachs Group’s price objective points to a potential upside of 12.82% from the company’s current price.

MDB has been the subject of several other reports. Oppenheimer boosted their price objective on shares of MongoDB from $270.00 to $430.00 in a report on Friday, June 2nd. KeyCorp boosted their price objective on shares of MongoDB from $229.00 to $264.00 and gave the company an “overweight” rating in a report on Thursday, April 20th. Tigress Financial reissued a “buy” rating and set a $365.00 price objective on shares of MongoDB in a report on Thursday, April 20th. Morgan Stanley boosted their price objective on shares of MongoDB from $270.00 to $440.00 in a report on Friday. Finally, Piper Sandler boosted their price objective on shares of MongoDB from $270.00 to $400.00 in a report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, MongoDB presently has a consensus rating of “Moderate Buy” and a consensus price target of $349.87.

MongoDB Price Performance

Shares of MongoDB stock opened at $389.99 on Friday. The firm has a market cap of $27.31 billion, a PE ratio of -83.51 and a beta of 1.04. MongoDB has a 12-month low of $135.15 and a 12-month high of $398.89. The company has a quick ratio of 4.19, a current ratio of 4.19 and a debt-to-equity ratio of 1.44. The company’s fifty day simple moving average is $295.63 and its two-hundred day simple moving average is $238.15.

MongoDB (NASDAQ:MDB – Get Rating) last issued its quarterly earnings results on Thursday, June 1st. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.38. MongoDB had a negative net margin of 23.58% and a negative return on equity of 43.25%. The company had revenue of $368.28 million during the quarter, compared to analysts’ expectations of $347.77 million. During the same period last year, the company posted ($1.15) EPS. MongoDB’s revenue was up 29.0% on a year-over-year basis. As a group, equities analysts expect that MongoDB will post -2.85 EPS for the current year.

Insider Activity at MongoDB

In other MongoDB news, CAO Thomas Bull sold 605 shares of the business’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $228.34, for a total transaction of $138,145.70. Following the sale, the chief accounting officer now directly owns 17,706 shares in the company, valued at $4,042,988.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CRO Cedric Pech sold 720 shares of the business’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $228.33, for a total transaction of $164,397.60. Following the completion of the transaction, the executive now directly owns 53,050 shares of the company’s stock, valued at $12,112,906.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Thomas Bull sold 605 shares of the company’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $228.34, for a total value of $138,145.70. Following the completion of the transaction, the chief accounting officer now directly owns 17,706 shares of the company’s stock, valued at $4,042,988.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 108,856 shares of company stock worth $27,327,511. Company insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On MongoDB

Large investors have recently modified their holdings of the company. Bessemer Group Inc. acquired a new stake in shares of MongoDB in the fourth quarter valued at approximately $29,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of MongoDB during the fourth quarter worth $30,000. Global Retirement Partners LLC lifted its holdings in shares of MongoDB by 346.7% during the first quarter. Global Retirement Partners LLC now owns 134 shares of the company’s stock worth $30,000 after purchasing an additional 104 shares during the period. Lindbrook Capital LLC lifted its holdings in shares of MongoDB by 350.0% during the fourth quarter. Lindbrook Capital LLC now owns 171 shares of the company’s stock worth $34,000 after purchasing an additional 133 shares during the period. Finally, Y.D. More Investments Ltd acquired a new stake in shares of MongoDB during the fourth quarter worth $36,000. 89.22% of the stock is owned by institutional investors and hedge funds.

MongoDB Company Profile

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MongoDB, Inc provides general purpose database platform worldwide. The company offers 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-premise, 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.

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MongoDB (NASDAQ:MDB – Get Rating) had its price target boosted by Truist Financial from $365.00 to $420.00 in a report published on Friday, The Fly reports.

Several other research firms also recently commented on MDB. JMP Securities boosted their target price on MongoDB from $245.00 to $370.00 in a report on Friday, June 2nd. Stifel Nicolaus boosted their target price on MongoDB from $375.00 to $420.00 in a report on Friday. Oppenheimer boosted their target price on MongoDB from $270.00 to $430.00 in a report on Friday, June 2nd. Morgan Stanley boosted their target price on MongoDB from $270.00 to $440.00 in a report on Friday. Finally, Credit Suisse Group dropped their target price on MongoDB from $305.00 to $250.00 and set an outperform rating on the stock in a report on Friday, March 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $349.87.

MongoDB Trading Up 0.4 %

NASDAQ MDB opened at $389.99 on Friday. The company has a quick ratio of 4.19, a current ratio of 4.19 and a debt-to-equity ratio of 1.44. MongoDB has a twelve month low of $135.15 and a twelve month high of $398.89. The firm has a market capitalization of $27.31 billion, a PE ratio of -83.51 and a beta of 1.04. The stock’s 50 day moving average is $295.63 and its 200 day moving average is $238.15.

MongoDB (NASDAQ:MDB – Get Rating) last released its quarterly earnings results on Thursday, June 1st. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.38. MongoDB had a negative return on equity of 43.25% and a negative net margin of 23.58%. The company had revenue of $368.28 million for the quarter, compared to analyst estimates of $347.77 million. During the same period in the previous year, the company posted ($1.15) earnings per share. The firm’s revenue was up 29.0% on a year-over-year basis. Research analysts forecast that MongoDB will post -2.85 earnings per share for the current fiscal year.

Insider Activity at MongoDB

In other MongoDB news, CEO Dev Ittycheria sold 49,249 shares of the company’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $227.55, for a total value of $11,206,609.95. Following the completion of the sale, the chief executive officer now owns 222,311 shares in the company, valued at $50,586,868.05. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other MongoDB news, CEO Dev Ittycheria sold 49,249 shares of the company’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $227.55, for a total value of $11,206,609.95. Following the completion of the sale, the chief executive officer now owns 222,311 shares in the company, valued at $50,586,868.05. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Mark Porter sold 2,669 shares of the company’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $381.12, for a total value of $1,017,209.28. Following the completion of the sale, the chief technology officer now owns 37,667 shares of the company’s stock, valued at approximately $14,355,647.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 108,856 shares of company stock worth $27,327,511. 4.80% of the stock is owned by insiders.

Institutional Trading of MongoDB

Several institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its position in shares of MongoDB by 13.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,593,996 shares of the company’s stock worth $1,770,313,000 after purchasing an additional 897,911 shares in the last quarter. Vanguard Group Inc. grew its position in shares of MongoDB by 1.0% during the third quarter. Vanguard Group Inc. now owns 6,127,231 shares of the company’s stock worth $1,216,623,000 after purchasing an additional 62,303 shares in the last quarter. Franklin Resources Inc. boosted its stake in MongoDB by 6.4% during the fourth quarter. Franklin Resources Inc. now owns 1,962,574 shares of the company’s stock valued at $386,313,000 after buying an additional 118,055 shares during the last quarter. State Street Corp boosted its stake in MongoDB by 1.8% during the first quarter. State Street Corp now owns 1,386,773 shares of the company’s stock valued at $323,280,000 after buying an additional 24,595 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in MongoDB by 3,283,771.0% during the fourth quarter. 1832 Asset Management L.P. now owns 1,018,000 shares of the company’s stock valued at $200,383,000 after buying an additional 1,017,969 shares during the last quarter. Hedge funds and other institutional investors own 89.22% of the company’s stock.

About MongoDB

(Get Rating)

MongoDB, Inc provides general purpose database platform worldwide. The company offers 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-premise, 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.

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MongoDB (NASDAQ:MDB – Get Rating) had its price objective increased by Mizuho from $220.00 to $240.00 in a research note published on Friday, The Fly reports.

A number of other analysts have also weighed in on MDB. JMP Securities raised their target price on shares of MongoDB from $245.00 to $370.00 in a research report on Friday, June 2nd. Tigress Financial reiterated a buy rating and set a $365.00 price target on shares of MongoDB in a report on Thursday, April 20th. KeyCorp lifted their price target on shares of MongoDB from $229.00 to $264.00 and gave the stock an overweight rating in a report on Thursday, April 20th. Stifel Nicolaus lifted their price target on shares of MongoDB from $240.00 to $375.00 in a report on Friday, June 2nd. Finally, Sanford C. Bernstein lifted their price target on shares of MongoDB from $257.00 to $424.00 in a report on Monday, June 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $349.87.

MongoDB Stock Performance

Shares of MongoDB stock opened at $389.99 on Friday. MongoDB has a fifty-two week low of $135.15 and a fifty-two week high of $398.89. The company has a debt-to-equity ratio of 1.44, a current ratio of 4.19 and a quick ratio of 4.19. The firm has a market capitalization of $27.31 billion, a P/E ratio of -83.51 and a beta of 1.04. The company’s 50 day moving average price is $295.63 and its two-hundred day moving average price is $238.15.

MongoDB (NASDAQ:MDB – Get Rating) last issued its earnings results on Thursday, June 1st. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.38. MongoDB had a negative net margin of 23.58% and a negative return on equity of 43.25%. The firm had revenue of $368.28 million for the quarter, compared to analyst estimates of $347.77 million. During the same quarter last year, the business posted ($1.15) earnings per share. The company’s quarterly revenue was up 29.0% on a year-over-year basis. On average, equities analysts forecast that MongoDB will post -2.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other MongoDB news, CTO Mark Porter sold 1,900 shares of the business’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $226.17, for a total transaction of $429,723.00. Following the completion of the sale, the chief technology officer now owns 43,009 shares in the company, valued at approximately $9,727,345.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Thomas Bull sold 605 shares of MongoDB stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $228.34, for a total transaction of $138,145.70. Following the transaction, the chief accounting officer now owns 17,706 shares of the company’s stock, valued at $4,042,988.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Mark Porter sold 1,900 shares of the company’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $226.17, for a total value of $429,723.00. Following the sale, the chief technology officer now owns 43,009 shares of the company’s stock, valued at approximately $9,727,345.53. The disclosure for this sale can be found here. Insiders have sold a total of 108,856 shares of company stock worth $27,327,511 in the last ninety days. Corporate insiders own 4.80% of the company’s stock.

Institutional Trading of MongoDB

Several institutional investors have recently made changes to their positions in MDB. Price T Rowe Associates Inc. MD raised its holdings in shares of MongoDB by 13.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,593,996 shares of the company’s stock valued at $1,770,313,000 after purchasing an additional 897,911 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of MongoDB by 1.0% in the third quarter. Vanguard Group Inc. now owns 6,127,231 shares of the company’s stock valued at $1,216,623,000 after purchasing an additional 62,303 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of MongoDB by 6.4% in the fourth quarter. Franklin Resources Inc. now owns 1,962,574 shares of the company’s stock valued at $386,313,000 after purchasing an additional 118,055 shares during the last quarter. State Street Corp raised its holdings in shares of MongoDB by 1.8% in the first quarter. State Street Corp now owns 1,386,773 shares of the company’s stock valued at $323,280,000 after purchasing an additional 24,595 shares during the last quarter. Finally, 1832 Asset Management L.P. increased its holdings in MongoDB by 3,283,771.0% during the fourth quarter. 1832 Asset Management L.P. now owns 1,018,000 shares of the company’s stock worth $200,383,000 after buying an additional 1,017,969 shares during the last quarter. Institutional investors own 89.22% of the company’s stock.

About MongoDB

(Get Rating)

MongoDB, Inc provides general purpose database platform worldwide. The company offers 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-premise, 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.

Further Reading

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GitLab has recently announced version 16, which introduces several enhancements. These include Value Streams Dashboards, generative Artificial intelligence (AI)-powered code suggestions, and workflow features with remote development workspaces (in beta).

Kai Armstrong, Senior Product Manager at GitLab summarised the updates in a blog post. GitLab 16 introduces Value Stream Dashboards, which enable continuous improvement of software delivery workflows by measuring value stream lifecycle and vulnerability metrics. The value stream lifecycle metrics utilize value stream analytics, incorporating the four DevOps Research and Assessment (DORA) metrics as part of the package. The Value Streams Dashboard is a highly customizable interface that enhances visibility by displaying trends, patterns, and opportunities for digital transformation improvements.

Value streams are gaining increased traction within organizations as they also align with the shift in mindset from project management and waterfall approaches to product management.

To amplify efficiency and productivity across various GitLab features, updates have been made to GitLab Duo, a suite of AI capabilities, that leverage the power of generative AI. Included in GitLab Ultimate, GitLab Duo provides various features, such as Summarising Merge Requests, Suggest Reviewers, Explain This Vulnerability, and more, to assist in the software development lifecycle. Improvements are made to Code Suggestions, with support for 13 programming languages. Code Suggestions is currently available in VS Code via the GitLab Workflow Extension.

AI and ML systems help organizations discover new opportunities and products. According to Zorina Alliata, senior software managers should understand the basics of AI and ML. Although roles like data scientist, data engineer, and ML engineer may not exist in current software engineering teams, leaders should be prepared to hire and train for these positions.

In addition to various other enhancements, GitLab 16 introduced a beta release of Remote Development Workspaces, which are ephemeral development environments in the cloud. Based on the AMD64 architecture, each workspace is equipped with its unique set of dependencies, libraries, and tools.

Omnibus GitLab, a method of packaging the necessary services and tools for running GitLab, has received updates to simplify the installation process for most users, eliminating the need for complex configurations. This update has garnered attention, as highlighted in a Reddit post by the original poster omenosdev, who mentioned in the comments, “…but I know some people have been waiting a long while to be able to deploy GitLab on RHEL 9…”

Armstrong thanked the wider GitLab community for the 304 contributions they provided to GitLab 16 and has asked the readers to take note of upcoming releases via the Product Kickoff Review page. The updates are made to the page on the 22nd of each month. As of this writing, GitLab 16.1 is released.

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Microsoft recently announced the public preview of bi-directional communication via MQTT version 5 and MQTT version 3.1.1 protocols for its Azure Event Grid service.

Azure Event Grid is Microsoft’s cloud-based event-routing service that enables customers to create, manage, and route events from various sources to different destinations or subscribers. It allows them to build data pipelines with device data, integrate applications, and build event-driven serverless architectures.

Microsoft has expanded the Event Grid capabilities to enhance system interoperability by introducing support for MQTT v3.1.1 and v5.0 protocols. This allows customers to publish and subscribe to messages for Internet of Things (IoT) solutions. This new support, currently available in public preview, complements the existing support for CloudEvents 1.0.

Ashita Rastogi, a Product Manager at Microsoft, explains in a tech community blog post:

With this public preview release, customers can securely connect MQTT clients to Azure Event Grid, get fine-grained access control to permit pub-sub on hierarchical topics, and route MQTT messages to other Azure services or 3rd party applications via Event Grid subscriptions. Key features supported in this release include MQTT over Websockets, persistent sessions, user properties, message expiry interval, topic aliases, and request-response.

Source: https://learn.microsoft.com/en-us/azure/event-grid/overview

In a YouTube Video on the new MQTT broker functionality in Azure Event Grid, George Guirguis, a Product Manager of Azure Messaging at Microsoft, mentioned what users can do with the MQTT messages:

This will enable you to leverage your messages for data analysis storage or visualization, among other use cases.

Furthermore, Microsoft has responded to customer demands for processing events in highly secure environments by introducing additional “pull” capabilities (also in public preview) to the service. Alongside the MQTT support, these capabilities eliminate the need for configuring a public endpoint and provide customers with enhanced control over message consumption rates, volume, and throughput.

Customers can leverage the new capabilities of MQTT support and pull delivery through the introduction of a resource called Event Grid Namespace. This Namespace simplifies resource management and provides an HTTP and an MQTT endpoint. In addition, this release explicitly supports pull delivery for topics within the Namespace resource. Additionally, the Namespace encompasses MQTT-related resources such as clients, certificates, client groups, and permission bindings.

AWS EventBridge and Google Eventarc offer similar capabilities to Azure Event Grid, allowing companies to build event-driven architectures and enable communication and coordination between different components of your applications or services. In addition, they offer other messaging services like AWS SNS, AWS SQS, and Google Pub/Sub.

Clemens Vasters, a Principal Architect of Messaging Services and Standards at Microsoft, commented in a LinkedIn post:

Azure Messaging supports OASIS AMQP 1.0 as its primary messaging protocol across the fleet, we support the open protocol of Apache Kafka, we support HTTP and WebSockets, and we now pick up OASIS MQTT 5.0/3.1.1 with a full implementation. We literally have no proprietary protocol in active use.

Currently, the public preview of the new capabilities of MQTT support and pull delivery is available in East US, Central US, South Central US, West US 2, East Asia, Southeast Asia, North Europe, West Europe, and UAE North Azure regions.

Lastly, Azure Event Grid uses a pay-per-event pricing model; its pricing details are available on the pricing page.

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On June 23, 2023, Truist Securities analyst Miller Jump restated a Buy rating for MongoDB, Inc. (NASDAQ:MDB) shares, increasing the price target from $365 to $420. Jump believes that the rollout of Atlas Stream Processing and Vector Search will expand the company’s monetizable opportunities in the mid-term. The recent Atlas Stream Processing launch at the NYC local user conference will expand MongoDB’s TAM into more real-time use cases. Additionally, Jump is confident that MongoDB’s strong foothold in the AI ecosystem will support “durable growth” through the remainder of the decade. The analyst commends MongoDB’s sales productivity, which continues to increase per rep as the sales force matures, while also gaining leverage from technical and sales partnerships. Jump predicts that MDB’s margin performance will exceed current Street expectations, serving as a “tailwind for shares.” On their most recent earnings call, MongoDB continued its momentum into FY24 with an impressive beat and raise on both the top and bottom lines driven by consumption levels that exceeded their outlook.

According to TipRanks, the average price target for MDB is $367.37, with a high forecast of $430.00 and a low forecast of $290.00. CNNMoney.com reports that the 21 analysts offering 12-month price forecasts for MongoDB Inc have a median target of $400.00, with a high estimate of $430.00 and a low estimate of $190.00. WallStreetZen predicts that the 12-month price target for MDB is $357.74, with a high estimate of $430.00 and a low estimate of $210.00. Simply Wall St. reports that the current share price of MDB is $275.18, with a 52-week high of $390.84 and a 52-week low of $135.15.

MDB Stock Performance and Analysis on June 23, 2023: Earnings Growth, Overvalued Ratios, and Comparison to Other Tech Companies

On June 23, 2023, MDB stocks opened at 386.78, slightly lower than the previous day’s close of 387.97. Throughout the day, the stock experienced a range of 380.55 to 395.92, with a volume of 128,104 shares traded.

MDB’s market cap is $26.8B. The company’s earnings growth last year was -5.89%, but this year, it grew by 89.49%. The projected earnings growth for the next five years is 8.00%, while the revenue growth for the past year was 46.95%.

MDB’s P/E ratio is not available (NM), but its price/sales ratio is 11.45, and its price/book ratio is 35.89. These ratios suggest that the stock may be overvalued.

In comparison to other technology companies, ANSSANSYS Inc experienced a decrease of 1.83%, while HUBSHubSpot Inc decreased by 0.42%. On the other hand, TTWOTake-Two Interactive increased by 0.29%.

MDB’s last reporting date is not available, but the EPS forecast for this quarter is $0.46. The company’s annual revenue for the past year was $1.3B, while the annual profit was -$345.4M. The net profit margin for MDB is -26.90%, which indicates that the company is not currently profitable.

MDB operates in the packaged software industry, and its corporate headquarters are located in New York, New York. There are no executives listed for the company.

Overall, MDB’s stock performance on June 23, 2023, was relatively stable, with a slight decrease in the opening price and a range of prices throughout the day. While the company’s earnings growth this year is impressive, its lack of profitability and overvalued ratios may give investors pause.

MongoDB Inc. (MDB): A Strong Investment Opportunity with Optimistic Forecasts

MongoDB Inc. (MDB) is a leading provider of modern, general-purpose database platforms. According to data from CNN Money, the 21 analysts who offer 12-month price forecasts for MDB have a median target of $420.00, with a high estimate of $445.00 and a low estimate of $210.00. The current consensus among 26 polled investment analysts is to buy stock in MongoDB Inc. This rating has held steady since June, when it was unchanged from a buy rating. Looking at the current quarter, MDB reported earnings per share of $0.46, and sales of $393.9 million. The company’s strong financial performance, combined with the optimistic forecasts of investment analysts, suggests that it is a good investment opportunity. Investors should conduct their own research and analysis, and seek advice from a financial professional before making any investment decisions.

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AWS recently announces support for dead-letter queue redrive in SQS using the AWS SDK or the Command Line Interface. The new capability allows developers to move unconsumed messages out of an existing dead-letter queue and back to their source queue.

When errors occur, SQS moves the unconsumed message to a dead-letter queue (DLQ), allowing developers to inspect messages that are not consumed successfully and debug their application failures. Sébastien Stormacq, principal developer advocate at AWS, explains:

Each time a consumer application picks up a message for processing, the message receive count is incremented by 1. When ReceiveCount > maxReceiveCount, Amazon SQS moves the message to your designated DLQ for human analysis and debugging. You generally associate alarms with the DLQ to send notifications when such events happen.

Once the failed message has been debugged or the consumer application is available to consume it, the new redrive capability moves the messages back to the source queue, programmatically managing the lifecycle of the unconsumed messages at scale in distributed systems.

In the past, it was only possible to handle messages manually in the console, with Jeremy Daly, CEO and Founder of Ampt, writing at the time:

It’s not a feature, it’s not an API, it’s an “experience” only available in the AWS Console. Do I want it? Yes! Do I want to log in to the AWS Console to use it? Absolutely not.

To reprocess DLQ messages, developers can use the following tasks: StartMessageMoveTask, to start a new message movement task from the dead-letter queue, CancelMessageMoveTask, to cancel the message movement task, and ListMessageMoveTasks, to get the most recent message movement tasks (up to 10) for a specified source queue.

The feature has been well received by the community with Tiago Barbosa, head of cloud and platforms at MUSIC Tribe, commenting:

This is a nice improvement. One of the things I never liked about using DLQs was the need to build the mechanism to re-process the items that ended up there.

Benjamen Pyle, CTO at Curantis Solutions, wrote an article on how to redrive messages with Golang and Step Functions.

In the configuration of a DLQ, it is possible to specify if the messages should be sent back to their source queue or another queue, using an ARN for the custom destination option. Luc van Donkersgoed, lead engineer at PostNL and AWS Serverless Hero, tweets:

Just redrive to the original queue would have been nice. This is EXTRA nice because it allows us to specify any destination queue. That’s a whole class of Lambda Functions… POOF, gone.

The documentation highlights a few limitations: SQS supports dead-letter queue redrive only for standard queues and does not support filtering and modifying messages while reprocessing them. Furthermore, a DLQ redrive task can run for a maximum of 36 hours, with a maximum of 100 active redrive tasks per account. Some developers question instead the lack of support in Step Functions.

SQS does not create a DLQ automatically, the queue must be created and configured before receiving unconsumed messages.

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As of June 23, 2023, Truist Securities analyst Miller Jump has given MongoDB (NASDAQ:MDB) a Buy rating and increased the price target from $365 to $420. This indicates that Truist Securities has a positive outlook on the stock and foresees a potential increase in its value to $420. The new price target surpasses the previous one of $365, suggesting even greater potential for growth.

MDB Stock Performance on June 23, 2023: Stable but Overvalued with Strong Earnings Growth

On June 23, 2023, MDB stock opened at 386.78, slightly lower than the previous day’s close of 387.97. Throughout the day, the stock experienced a range of 380.55 to 391.74, with a total volume of 77,915 shares traded.

MDB is a technology services company that specializes in packaged software. The company’s market cap is $26.8B, and it reported annual revenue of $1.3B in the previous year.

MDB’s earnings growth has been strong, with a current earnings growth rate of +89.49%. Over the next five years, MDB is expected to maintain a steady earnings growth rate of +8.00%. Additionally, the company’s revenue growth in the previous year was +46.95%, indicating strong sales performance.

MDB’s P/E ratio is currently not available (NM), but its price/sales ratio is 11.45 and its price/book ratio is 35.89. These ratios indicate that the stock may be overvalued.

On June 23, 2023, MDB’s stock performance was mixed compared to other technology services companies in the industry. ANSS (ANSYS Inc) experienced a -1.18% change, while HUBS (HubSpot Inc) saw a +0.23% change and TTWO (Take-Two Interactive) had a +0.30% change.

Overall, MDB’s stock performance on June 23, 2023, was relatively stable, with a slight decrease in the opening price and a range of fluctuations throughout the day. The company’s strong earnings and revenue growth indicate potential for future growth, but its negative net profit margin and high valuation ratios may cause concern for some investors.

MongoDB Inc (MDB) Stock Forecast: Analysts Predict +7.45% Increase by June 2023

On June 23, 2023, MongoDB Inc (MDB) stock had a median target of 420.00, with a high estimate of 445.00 and a low estimate of 210.00 according to 21 analysts offering 12-month price forecasts. The median estimate represented a +7.45% increase from the last price of 390.87.

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Data affects everything today, while artificial intelligence and foundation platforms give enterprises more and more developer experiences. In that context, insurance has emerged as one of the hot areas in the space.

That’s where MongoDB Inc. and Databricks Inc. hope to offer their expertise, with one of its most prominent use cases being attempting to help customers modernize away from the constraints of legacy systems.  

“Fundamentally, insurance is a data processing organization, has been forever,” said Jeff Needham (pictured, right), principal of industry solutions at MongoDB. “For an organization to be able to process data more efficiently, more effectively with less hands on keyboards is tremendously compelling, obviously, to the industry.”

Needham and Marcela Granados (left), global insurance leader with Databricks, spoke with theCUBE industry analyst John Furrier at the MongoDB .local NYC event, during an exclusive broadcast on theCUBE, SiliconANGLE Media’s livestreaming studio. They discussed the importance of real-time data, the role of AI and the key steps insurers should consider in all of this. (* Disclosure below.)

Telematics comes into view

It’s also important to consider the concept of real-time data, which is vital in insurance, according to Granados.

“Oftentimes, insurance companies care about the reports, like, ‘Hey, if all I need to do is financial report, regulatory reporting, I can do it on a monthly basis, I can do it on a quarterly basis. What real-time data?’” Granados said.

That’s where the concept of telematics comes into focus, which is no longer a dream, according to Granados. Lots of insurance companies know that with prohibiting the use of credit score behavioral data, telematics is key.

“If you don’t have that real-time view of how people are driving and how it would affect not only pricing, but also claims, it’s absolutely critical,” she said.

When it comes to telematics, the partnership between MongoDB and Databricks involves a solution accelerator built together around usage-based insurance. But the concept of semi-structured data on telematics can go beyond the personal auto market, and commercial auto is now heavily based in telematics, according to Granados.

“In our view, I think every single line of business and insurance can be affected by semi-structured and unstructured data as well,” she said.

Here’s the complete video interview with Marcela Granados and Jeff Needham, part of SiliconANGLE’s and theCUBE’s coverage of the MongoDB .local NYC event:

(* Disclosure: TheCUBE is a paid media partner for the MongoDB .local NYC event. Neither MongoDB Inc., the sponsor of theCUBE’s event coverage, nor other sponsors have editorial control over content on theCUBE or SiliconANGLE.)

Photo: SiliconANGLE

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On June 23, 2023, Robert W. Baird investment analysts raised the price objective of MongoDB (NASDAQ:MDB) from $390.00 to $430.00 in a research note report. This indicates a potential upside of 10.72% from the stock’s current price, according to The Fly.

MongoDB reported its quarterly earnings data on June 1st of the same year, where they announced an EPS (earnings per share) of $0.56 for the quarter, beating the consensus estimate by $0.38 with a negative net margin of 23.58%. Additionally, it had a negative return on equity of 43.25% while generating revenue of $368.28 million – surpassing analyst estimates that predicted only $347.77 million for the same timeframe.

The company provides general purpose database platforms all over the world, including MongoDB Atlas – a multi-cloud database-as-a-service solution hosted by MongoDB – as well as Enterprise Advanced and Community Server versions for enterprise and open-source customers respectively.

This news came as no surprise to market analysts who had been following development in MongoDB closely given their track record in innovation and customer service in recent years. The company has been expanding its reach through multiple partnerships and strategic acquisitions such as mLab acquisition earlier this year which further consolidates its position as an industry leader within cloud databases.

In conclusion, investors can look forward to promising gains ahead with favorable estimates projected for MongoDB this year despite challenges posed by the global economy amid pandemic recovery efforts.

MongoDB Expected to Soar with Upbeat Analyst Ratings and Favorable Insider Trading Activity

MongoDB Stock Set to Rise on Solid Analyst Ratings and Positive Insider Trading Activity

On June 23, 2023, shares of MongoDB (MDB) stock opened at $388.36. With a market cap of $27.20 billion, this leading database platform provider seems poised for future growth.

Several new analyst ratings suggest that the stock is on the rise. Oppenheimer raised their target price on MDB shares from $270.00 to $430.00, while KeyCorp raised their target price on the shares from $229.00 to $264.00 and gave the company an “overweight” rating in a report issued on April 20th.

Royal Bank of Canada also raised their target price on MDB shares from $235.00 to $400.00 in a report released on June 2nd, while Mizuho increased their price objective from $220.00 to $240.00 in a report issued the same day.

Moreover, recent insider trading activity has been positive for MDB shareholders as well with CEO Dev Ittycheria selling 49,249 shares of the firm’s stock for a total value of $11,206,609.95 and Chief Accounting Officer Thomas Bull selling 605 shares in early April for a total value of nearly $140k.

These actions echo strong performance seen by select funds in regards to modifying holdings; Raymond James & Associates was amongst them increasing its stake in MongoDB by over 30% earlier this year.

As we can see from this data and reports compiled by Bloomberg, investors would do well to consider purchasing MongoDB stock now before it experiences further market-wide attention and gains over time as they continue redefining industry standards through multi-cloud technology solutions as well as enhanced enterprise databases currently available across numerous platforms globally..

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