MongoDB, Inc. (NASDAQ:MDB) Given Average Rating of “Moderate Buy” by Brokerages

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Shares of MongoDB, Inc. (NASDAQ:MDBGet Free Report) have been assigned an average recommendation of “Moderate Buy” from the twenty-four brokerages that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $366.59.

Several brokerages have recently commented on MDB. Piper Sandler increased their price objective on MongoDB from $270.00 to $400.00 in a research report on Friday, June 2nd. Oppenheimer boosted their target price on MongoDB from $270.00 to $430.00 in a research note on Friday, June 2nd. Royal Bank of Canada boosted their target price on MongoDB from $400.00 to $445.00 in a research note on Friday, June 23rd. Citigroup lifted their price target on MongoDB from $363.00 to $430.00 in a research report on Friday, June 2nd. Finally, William Blair restated an “outperform” rating on shares of MongoDB in a research report on Friday, June 2nd.

MongoDB Stock Up 1.2 %

Shares of NASDAQ:MDB opened at $431.21 on Thursday. MongoDB has a 1 year low of $135.15 and a 1 year high of $439.00. 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 business has a fifty day moving average price of $356.64 and a two-hundred day moving average price of $264.70. The company has a market capitalization of $30.44 billion, a PE ratio of -92.34 and a beta of 1.13.

MongoDB (NASDAQ:MDBGet Free Report) last issued its quarterly earnings results on Thursday, June 1st. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $368.28 million for the quarter, compared to analysts’ expectations of $347.77 million. During the same quarter in the prior year, the firm earned ($1.15) EPS. The business’s revenue for the quarter was up 29.0% compared to the same quarter last year. Analysts forecast that MongoDB will post -2.8 earnings per share for the current year.

Insider Buying and Selling at MongoDB

In other news, Director Dwight A. Merriman sold 2,000 shares of the firm’s stock in a transaction on Wednesday, April 26th. The stock was sold at an average price of $240.00, for a total value of $480,000.00. Following the completion of the sale, the director now owns 1,225,954 shares of the company’s stock, valued at approximately $294,228,960. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other MongoDB news, Director Dwight A. Merriman sold 2,000 shares of MongoDB stock in a transaction dated Wednesday, April 26th. The stock was sold at an average price of $240.00, for a total transaction of $480,000.00. Following the completion of the transaction, the director now owns 1,225,954 shares in the company, valued at approximately $294,228,960. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Cedric Pech sold 15,534 shares of MongoDB stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $250.00, for a total value of $3,883,500.00. Following the completion of the transaction, the executive now owns 37,516 shares of the company’s stock, valued at approximately $9,379,000. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 117,427 shares of company stock valued at $41,364,961. 4.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. GPS Wealth Strategies Group LLC acquired a new position in shares of MongoDB in the 2nd quarter valued at $26,000. Global Retirement Partners LLC boosted its holdings in 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 buying an additional 104 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in MongoDB by 174.5% during the second quarter. Pacer Advisors Inc. now owns 140 shares of the company’s stock worth $58,000 after buying an additional 89 shares in the last quarter. Bessemer Group Inc. bought a new stake in MongoDB during the fourth quarter worth approximately $29,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of MongoDB in the 4th quarter valued at approximately $30,000. 89.22% of the stock is owned by hedge funds and other institutional investors.

About MongoDB

(Get Free Report

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, Inc. (NASDAQ:MDB) Given Average Rating of “Moderate Buy” by Brokerages

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Shares of MongoDB, Inc. (NASDAQ:MDBGet Free Report) have been assigned an average recommendation of “Moderate Buy” from the twenty-four brokerages that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $366.59.

Several brokerages have recently commented on MDB. Piper Sandler increased their price objective on MongoDB from $270.00 to $400.00 in a research report on Friday, June 2nd. Oppenheimer boosted their target price on MongoDB from $270.00 to $430.00 in a research note on Friday, June 2nd. Royal Bank of Canada boosted their target price on MongoDB from $400.00 to $445.00 in a research note on Friday, June 23rd. Citigroup lifted their price target on MongoDB from $363.00 to $430.00 in a research report on Friday, June 2nd. Finally, William Blair restated an “outperform” rating on shares of MongoDB in a research report on Friday, June 2nd.

MongoDB Stock Up 1.2 %

Shares of NASDAQ:MDB opened at $431.21 on Thursday. MongoDB has a 1 year low of $135.15 and a 1 year high of $439.00. 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 business has a fifty day moving average price of $356.64 and a two-hundred day moving average price of $264.70. The company has a market capitalization of $30.44 billion, a PE ratio of -92.34 and a beta of 1.13.

MongoDB (NASDAQ:MDBGet Free Report) last issued its quarterly earnings results on Thursday, June 1st. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $368.28 million for the quarter, compared to analysts’ expectations of $347.77 million. During the same quarter in the prior year, the firm earned ($1.15) EPS. The business’s revenue for the quarter was up 29.0% compared to the same quarter last year. Analysts forecast that MongoDB will post -2.8 earnings per share for the current year.

Insider Buying and Selling at MongoDB

In other news, Director Dwight A. Merriman sold 2,000 shares of the firm’s stock in a transaction on Wednesday, April 26th. The stock was sold at an average price of $240.00, for a total value of $480,000.00. Following the completion of the sale, the director now owns 1,225,954 shares of the company’s stock, valued at approximately $294,228,960. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other MongoDB news, Director Dwight A. Merriman sold 2,000 shares of MongoDB stock in a transaction dated Wednesday, April 26th. The stock was sold at an average price of $240.00, for a total transaction of $480,000.00. Following the completion of the transaction, the director now owns 1,225,954 shares in the company, valued at approximately $294,228,960. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Cedric Pech sold 15,534 shares of MongoDB stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $250.00, for a total value of $3,883,500.00. Following the completion of the transaction, the executive now owns 37,516 shares of the company’s stock, valued at approximately $9,379,000. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 117,427 shares of company stock valued at $41,364,961. 4.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. GPS Wealth Strategies Group LLC acquired a new position in shares of MongoDB in the 2nd quarter valued at $26,000. Global Retirement Partners LLC boosted its holdings in 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 buying an additional 104 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in MongoDB by 174.5% during the second quarter. Pacer Advisors Inc. now owns 140 shares of the company’s stock worth $58,000 after buying an additional 89 shares in the last quarter. Bessemer Group Inc. bought a new stake in MongoDB during the fourth quarter worth approximately $29,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of MongoDB in the 4th quarter valued at approximately $30,000. 89.22% of the stock is owned by hedge funds and other institutional investors.

About MongoDB

(Get Free Report

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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Analyst Recommendations for MongoDB (NASDAQ:MDB)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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Senior Software Engineer- NoSQL Infrastructure | eFinancialCareers

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The Team:
Bloomberg’s NoSQL Infrastructure team offers Apache Cassandra as a hosted service. We have visibility across the organization as we’re providing a pathway for scalable data storage. We support a wide array of critical and highly-visible applications such as archival data stores, ultra low-latency market data caches and trade event stores. We manage thousands of Cassandra nodes storing petabytes of data and billions of requests per day.

We focus on fostering Cassandra adoption by improving its usability within Bloomberg. The team has developed automation workflows for managing the lifecycle of clusters, keyspace deployment and schema management. We’ve implemented client libraries for service discovery that we are looking to enhance with custom load balancing and retry policies. We also provide solutions engineering for application teams, helping them with data modeling and architecture. Currently, we are focused on improving our core automation and monitoring of Cassandra, developing a feature-rich self service console for managing Cassandra databases, and developing a proxy service to simplify data access to Cassandra. Underpinning all of this is an eye towards open source, adopting wherever possible industry standard solutions used by the open source community and contributing back patches.

We’ll trust you to:

  • Help application teams looking to use Cassandra with workload characterization, performance tuning and failure analysis.
  • Improve the operability of the solution developing infrastructure such as cluster auto-healing, containerization, and automated upgrades.
  • Improve the usability of the solution by building tooling such as our proxy service that does workload management for multi-tenant deployments and our database copy system.
  • Identify feature gaps in the technologies and work with the open source community to co-design and co-develop features and bug fixes.
  • You’ll need to have:

  • 4+ years of programming experience with an object-oriented programming language (Python, Go, Java, C++, or JavaScript).
  • A degree in Computer Science, Engineering or similar field of study or equivalent work experience.
  • Experience with modern development methodologies and tools (Jira, Jenkins, Git, etc).
  • Experience with object-oriented design.
  • Solid understanding of data structures and algorithms.
  • Strong problem solving and communication skills.

We’d love to see:

  • Upstream, accepted contributions to open source projects.
  • A strong understanding of distributed systems.
  • Production experience with NoSQL databases or other distributed storage technologies in a platform/infrastructure software engineering role.

If you’d like to know more about the work we do, check out Bloomberg’s Github: https://github.com/bloomberg , our talk at Datastax Accelerate: https://www.youtube.com/watch?v=RjypMRrit9U , and a recent talk we gave on improving the snapshot subsystem in Cassandra: https://www.youtube.com/watch?v=P-aAeUH5drY&t=1428 .

Interviewing with us:
We believe interviewing is a two way street. It’s a way for us to get to know you and your skills, and also a way for you to learn more about the team, our technical challenges, and what you’d be working on. The content of each interview round will be tailored to the role and your background, but the general framework can be found here: https://www.bloomberg.com/careers/technology/engineering/software-engineering-experienced-hire

We want to ensure you can put your best foot forward throughout the process, so if you have any questions or need any accommodations to be successful, please let us know!

We have a lot of opportunities to choose from in Engineering, and it is important to us that your skills and experience aligns best with the team you are interviewing with. To help ensure you are placed on the right team, your application will be considered for all of our current vacancies in Engineering at the first stage of the interview process.

Bloomberg is an equal opportunity employer, and we value diversity at our company. We do not discriminate on the basis of age, ancestry, color, gender identity or expression, genetic predisposition or carrier status, marital status, national or ethnic origin, race, religion or belief, sex, sexual orientation, sexual and other reproductive health decisions, parental or caring status, physical or mental disability, pregnancy or parental leave, protected veteran status, status as a victim of domestic violence, or any other classification protected by applicable law.

Bloomberg is a disability inclusive employer. Please let us know if you require any reasonable adjustments to be made for the recruitment process. If you would prefer to discuss this confidentially, please email amer_recruit@bloomberg.net

Salary Range: 160,000 – 240,000 USD Annually + Benefits + Bonus
The referenced salary range is based on the Company’s good faith belief at the time of posting. Actual compensation may vary based on factors such as geographic location, work experience, market conditions, education/training and skill level.
We offer one of the most comprehensive and generous benefits plans available and offer a range of total rewards that may include merit increases, incentive compensation [Exempt roles only], paid holidays, paid time off, medical, dental, vision, short and long term disability benefits, 401(k) +match, life insurance, and various wellness programs, among others. The Company does not provide benefits directly to contingent workers/contractors and interns.

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Handelsbanken Fonder AB Increases Stake in MongoDB, Inc. and Optimistic Outlook for …

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Handelsbanken Fonder AB, a prominent investment company, has recently increased its stake in MongoDB, Inc. by 6.3% during the first quarter of the fiscal year 2023. As per their recent filing with the Securities and Exchange Commission (SEC), the fund now owns 44,404 shares of MongoDB’s stock after purchasing an additional 2,638 shares within this period. This enhanced ownership by Handelsbanken Fonder AB amounts to approximately 0.06% of MongoDB’s total worth, valued at $10,351,000 based on their most recent SEC filing.

MongoDB (NASDAQ: MDB) recently announced its quarterly earnings data on June 1st, which unveiled positive results for the company. In this report, MongoDB disclosed earnings per share (EPS) of $0.56 for the quarter, surpassing market expectations by an impressive $0.38 per share. In contrast to the estimated revenue of $347.77 million projected by analysts, MongoDB reported revenue amounting to $368.28 million for the same quarter.

Moreover, this revenue growth signifies a notable increase of 29% when compared to the previous year’s corresponding quarter. However, it is essential to note that during this same period last year, MongoDB faced a challenging situation when it posted negative earnings per share at ($1.15). The company’s current return on equity stands negatively at 43.25%, along with a net margin of -23.58%.

Amid such contrasting figures and volatile market conditions across industries due to various factors such as economic fluctuations and technological advancements, investors remain perplexed regarding their investment decisions concerning MongoDB and other companies.

MongoDB Inc., being a globally recognized provider of a general-purpose database platform that caters to users worldwide, has gained considerable attention from investors looking for significant exposure in the tech industry.

The company offers several products and services designed to meet specific market requirements. MongoDB Atlas, for instance, stands out as a hosted multi-cloud database-as-a-service solution that enables users to access and manage their data efficiently. It provides a seamless experience for organizations seeking flexible and scalable databases across different cloud platforms.

Another flagship offering by MongoDB is the MongoDB Enterprise Advanced, which caters specifically to enterprise customers. This commercial database server is designed to be utilized in various environments ranging from on-premise setups to hybrid cloud configurations. As businesses increasingly rely on cloud infrastructure, MongoDB’s Enterprise Advanced aims to provide robust and secure solutions tailored to specific enterprise needs.

Furthermore, MongoDB also presents its Community Server as a free-to-download version of its database software. This offering appeals primarily to developers who require the essential functionality required for initiating and experimenting with MongoDB capabilities.

In conclusion, Handelsbanken Fonder AB’s increased stake in MongoDB Inc., along with their substantial investment amounting to $10,351,000 according to their recent SEC filing, reflects their confidence in the company’s growth potential. MongoDB’s positive quarterly earnings report showcases its ability to exceed market expectations and maintain notable revenue growth.

As we progress further into the fiscal year 2023, investors remain eager to see if MongoDB can sustain this positive momentum amidst the dynamically evolving technology landscape. While the company continues to offer innovative products such as the MongoDB Atlas and Enterprise Advanced solutions tailored for diverse customer needs, investors should closely monitor their performance as they navigate through this complex market environment.

MongoDB, Inc.

MDB

Buy

Updated on: 19/07/2023

Price Target

Current $431.21

Concensus $388.06


Low $180.00

Median $406.50

High $630.00

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Social Sentiments

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Analyst Ratings

Analyst / firm Rating
Miller Jump
Truist Financial
Sell
Mike Cikos
Needham
Sell
Rishi Jaluria
RBC Capital
Sell
Ittai Kidron
Oppenheimer
Sell
Matthew Broome
Mizuho Securities
Sell

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MongoDB’s Growing Investor Confidence and Market Position


MongoDB: A Leading Database Platform Empowered by Investor Confidence

Date: July 19, 2023

———————————————————————

In recent months, several prominent investors have made significant changes to their holdings in MongoDB (NASDAQ: MDB), highlighting the growing confidence in the company and its potential for long-term success. The increased stakes held by key players such as Raymond James & Associates, PNC Financial Services Group Inc., MetLife Investment Management LLC, Panagora Asset Management Inc., and Vontobel Holding Ltd. signify a strong belief in MongoDB’s future prospects.

Raymond James & Associates raised its stake in MongoDB by an impressive 32.0% during the first quarter of this year. With an additional 1,192 shares acquired during this period, Raymond James & Associates now owns a total of 4,922 shares valued at $2,183,000. Similarly, PNC Financial Services Group Inc. increased its stake by 19.1%, adding 206 additional shares worth $569,000 to its portfolio.

MetLife Investment Management LLC demonstrated their confidence in the company with a new stake purchased during the first quarter amounting to $1,823,000. This move reflects MetLife’s commitment to being part of MongoDB’s growth journey and its promising potential.

Panagora Asset Management Inc., known for sound investment choices, raised its stake in MongoDB by 9.8% during the same period. This increase demonstrates Panagora’s recognition of MongoDB’s value proposition and their willingness to maximize returns for their clients.

Finally, Vontobel Holding Ltd.’s outstanding move to raise its stake in MongoDB by an extraordinary 100.3% showcases their conviction in the company’s ability to generate substantial returns on investment. Adding an additional 1,439 shares worth $1,236,000 during the first quarter is a testament to their unwavering trust in MongoDB.

It is noteworthy that institutional investors and hedge funds collectively own a significant 89.22% of MongoDB’s stock, indicating the broader market’s recognition of the company’s potential for growth and profitability.

On July 19, 2023, MongoDB opened at $426.02 on NASDAQ. The stock has shown remarkable performance with a 50-day simple moving average of $353.25 and a 200-day simple moving average of $263.53. These figures highlight the stock’s upward trend and suggest a positive outlook for investors.

MongoDB, Inc., with its worldwide presence, offers a general-purpose database platform to businesses seeking efficient data management solutions. The company provides various products, including MongoDB Atlas—a reliable multi-cloud database-as-a-service solution—and MongoDB Enterprise Advanced—an enterprise-grade commercial database server suitable for cloud, on-premise, or hybrid environments. Moreover, developers can access Community Server—a free-to-download version offering essential functionality to harness the power of MongoDB.

In terms of analyst opinions, research firms have been optimistic about MongoDB’s trajectory. Royal Bank of Canada raised their price target from $400.00 to $445.00 in June 2023, demonstrating their confidence in the company’s future market value. VNET Group also maintained their positive rating on shares of MongoDB in June 2023. KeyCorp increased their price objective from $229.00 to $264.00 while assigning an “overweight” rating to the stock during April 2023.

Overall, analysts have predominantly assigned buy ratings to MongoDB stock compared to hold and sell ratings for one research analyst each in recent reviews published by Bloomberg. The consensus rating stands at “Moderate Buy,” with a consensus price target of $366.59 calculated from multiple sources.

In recent news related to insider trading, CRO Cedric Pech sold 15,534 shares of MongoDB stock at an average price of $250 per share in May 2023. The transaction totaled $3,883,500. Following this sale, Pech has retained 37,516 shares valued at $9,379,000. Additionally, Director Dwight A. Merriman sold 606 shares in July 2023 at an average price of $382.41 per share, resulting in a total value of $231,740.

The transactions by corporate insiders indicate their continued involvement and belief in MongoDB’s growth potential. It is important to note that over the last three months, insiders have collectively sold 117,427 shares valued at $41,364,961. Despite these sales, insiders still hold a considerable stake in the company—4.80% as of the reference date—underscoring their confidence in MongoDB’s future.

The collective actions of investors and insiders alike serve as a strong validation of MongoDB’s market position and growth prospects ahead. With a solid foundation supported by increased holdings from esteemed investors and positive analyst ratings highlighting its upward trajectory, MongoDB asserts itself as a leader within the database platform landscape.

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MongoDB Offers More Digital Data Tools to Public Agencies – Government Technology

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New York-based data platform MongoDB says it has launched a fresh public-sector push that could help agencies build and operate better digital and data-based tools.

The new MongoDB Atlas for Public Sector will help “government agencies and public sector organizations accelerate their pace of innovation and better serve end users with modern, data-driven applications,” according to a statement.

MongoDB Atlas — which earlier this year gained FedRAMP Moderate authorization — will also give public agencies access to experts who can guide architectural design reviews and custom training programs for teams within those organizations, among other services.

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MongoDB (MDB) and Microsoft Sign Global Strategic Partnership – Yahoo Finance

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MongoDB MDB announced a substantial expansion of its strategic partnership agreement with Microsoft MSFT. The two companies are collaborating to facilitate customers’ cloud adoption journeys, with initiatives like improved accessibility to MongoDB Atlas through the Microsoft commercial marketplace. This partnership will enable millions of developers using the Azure portal to easily discover and utilize MongoDB Atlas.

Under the agreement, MongoDB and Microsoft will collaborate to improve the customer experience of MongoDB Atlas on Azure, delivering go-to-market initiatives, developer enablement programs and training programs. Moreover, the two companies will strengthen the technology integrations to enhance the services it offers to its shared customers.

This strategic partnership builds upon previous collaborations between MDB and MSFT, including the introduction of a pay-as-you-go MongoDB Atlas offering. Currently, MongoDB Atlas seamlessly integrates with various Microsoft services, such as Azure Synapse Analytics, Azure Event Hub, Microsoft Power BI, Microsoft Purview, Azure Logic Apps and Microsoft Power Automate.

The emergence of generative artificial intelligence (AI) technology, such as Large Language Model, has unfolded exciting possibilities for transforming user interactions with applications. Developers are eager to harness the potential of generative AI to fuel their creativity and develop innovative applications.

MongoDB, Inc. Price and Consensus

MongoDB, Inc. Price and ConsensusMongoDB, Inc. Price and Consensus

MongoDB, Inc. Price and Consensus

MongoDB, Inc. price-consensus-chart | MongoDB, Inc. Quote

 

MongoDB’s Other Partnerships to Aid Customer Growth

MongoDB has entered into some notable partnerships recently. These partnerships are expected to boost the company’s customer growth, thereby driving subscription revenues in the upcoming quarters.

The Zacks Consensus Estimate for MDB’s second-quarter fiscal 2024 customers is pegged at 44,533, indicating year-over-year growth of 20.35%. The Zacks Consensus Estimate for subscription revenues is pegged at $371.3 million, indicating year-over-year growth of 27.32%.

Shares of this Zacks Rank #2 (Buy) company have gained 116.4% year to date compared with the Zacks Computer and Technology sector’s rise of 41.6% in the same time frame.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

MongoDB has been witnessing growth in the number of customers in the last few quarters. This trend is expected to continue in the second quarter of fiscal 2024.

Some of the notable partnerships driving customer growth include giant companies like Alphabet GOOGL and Alibaba BABA.

MDB recently announced a partnership with Google Cloud to promote generative AI adoption and app development. MongoDB Atlas, a multi-cloud data platform, simplifies building and scaling generative AI-powered applications. Integration with Google Cloud’s Vertex AI large language models enables faster software development. Quick-start architecture reviews with MongoDB and Google Cloud professional services to accelerate software development. The collaboration aims to foster innovation in AI-driven applications.

MongoDB and Alibaba Cloud have extended its strategic global partnership for four more years. The partnership allows customers to access MongoDB-as-a-service, ApsaraDB for MongoDB, from Alibaba Cloud’s data centers worldwide. This enables customers to efficiently build large-scale modern applications. The collaboration aims to integrate MongoDB and Alibaba Cloud services to cater to customers in various industries, including gaming, automotive and content development, on a global scale.

The company introduced MongoDB Atlas for Public Sector, which is aimed at aiding government agencies and public organizations in driving innovation and delivering data-driven applications. Additionally, public sector organizations can access architectural design reviews, tailored technology partnerships and customized technology training through knowledge accelerators to enhance their capabilities.

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MongoDB expands its global partnership with Microsoft – Express Computer

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MongoDB announced a significant expansion of a multiyear strategic partnership agreement with Microsoft. MongoDB and Microsoft are committing to a broad range of initiatives to make it easier for customers to advance their cloud adoption journeys, including easier access to MongoDB Atlas within the Microsoft commercial marketplace. Millions of developers who access the Azure portal will be able to discover and use MongoDB Atlas.

As part of the agreement, MongoDB will work with Microsoft to enhance how customers experience MongoDB Atlas running on Azure by delivering go-to-market initiatives and creating developer enablement and training programs. Additionally, MongoDB will deepen their technology integrations with Microsoft to better serve their mutual customers.

The strategic partnership agreement follows recent collaborations between the two companies announced at Microsoft Ignite, which included a pay-as-you-go MongoDB Atlas offering. MongoDB Atlas currently integrates with first-party Microsoft services such as Azure Synapse Analytics, Azure Event Hub, Microsoft Power BI, Microsoft Purview, Azure Logic Apps, and Microsoft Power Automate.

With today’s announcement, other integrations under development will include Microsoft data, AI and analytics, and low-code services. MongoDB has also partnered with Microsoft for Startups to provide free MongoDB Atlas credits, and other benefits as a featured offer in Founders Hub. Together, MongoDB and Microsoft offer startups the speed, unlimited scale, and security they need to move from ideation to growth.

Used by 95 of the Fortune 100, Mural—a leading collaborative intelligence company that helps its customers to power ideation, team building, education, and alignment—migrated its platform to MongoDB Atlas on Azure in 2019. Since that time, MongoDB Atlas has enabled Mural to keep up with the massive growth the company has experienced, particularly in the last two years, without adding headcount.

“Looking at the software landscape today, everyone wants to stitch together all of their different software solutions with whatever platforms they’re on. When a really rich partner ecosystem exists, and brings value by integrating foundational services, it enables organizations like ours to deliver powerful new services to our customers,” said Rebecca Campbell, Vice President of Engineering at Mural. “Working with MongoDB on Azure has enabled us to build and ship faster, and ultimately to provide more value to our customers.”

“As more products and services come together on the Microsoft commercial marketplace, customers get a better experience by being able to streamline their billing and procurement process,” said Alan Chhabra, Executive Vice President, Worldwide Partners and Asia at MongoDB. “Many of our customers want to run MongoDB Atlas on Azure, but have lacked the proper incentives and a smooth deployment experience. Through this expanded collaboration with Microsoft, we’re making it easier for our customers to seamlessly integrate MongoDB Atlas into their Azure infrastructure to power the next generation of applications.”

“Developers are the key to creating the innovations that drive enhanced customer experiences,” said Arun Ulagaratchagan, CVP, Azure Data at Microsoft. “MongoDB is loved by developers all over the world, and in order to better serve our customers, we’re expanding our business and technical partnership in order to provide a best-in-class MongoDB experience with MongoDB Atlas on Azure”

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Is Aehr Test Systems (AEHR) Outperforming Other Computer and Technology Stocks This Year?

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Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Aehr Test Systems (AEHR) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let’s take a closer look at the stock’s year-to-date performance to find out.

Aehr Test Systems is a member of our Computer and Technology group, which includes 636 different companies and currently sits at #6 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Aehr Test Systems is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for AEHR’s full-year earnings has moved 4.4% higher. This means that analyst sentiment is stronger and the stock’s earnings outlook is improving.

Our latest available data shows that AEHR has returned about 151.6% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 43%. As we can see, Aehr Test Systems is performing better than its sector in the calendar year.

MongoDB (MDB) is another Computer and Technology stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 116.4%.

For MongoDB, the consensus EPS estimate for the current year has increased 30.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

To break things down more, Aehr Test Systems belongs to the Electronics – Measuring Instruments industry, a group that includes 5 individual companies and currently sits at #45 in the Zacks Industry Rank. Stocks in this group have gained about 4.8% so far this year, so AEHR is performing better this group in terms of year-to-date returns.

On the other hand, MongoDB belongs to the Internet – Software industry. This 147-stock industry is currently ranked #73. The industry has moved +60.2% year to date.

Investors with an interest in Computer and Technology stocks should continue to track Aehr Test Systems and MongoDB. These stocks will be looking to continue their solid performance.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Aehr Test Systems (AEHR) : Free Stock Analysis Report

MongoDB, Inc. (MDB) : Free Stock Analysis Report

To read this article on Zacks.com click here.

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MongoDB Unusual Options Activity For July 19 – Benzinga

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A whale with a lot of money to spend has taken a noticeably bullish stance on MongoDB.

Looking at options history for MongoDB MDB we detected 12 strange trades.

If we consider the specifics of each trade, it is accurate to state that 58% of the investors opened trades with bullish expectations and 41% with bearish.

From the overall spotted trades, 7 are puts, for a total amount of $289,602 and 5, calls, for a total amount of $434,824.

What’s The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $250.0 to $440.0 for MongoDB over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for MongoDB’s options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of MongoDB’s whale trades within a strike price range from $250.0 to $440.0 in the last 30 days.

MongoDB Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
MDB CALL SWEEP BULLISH 08/18/23 $400.00 $168.0K 445 9
MDB CALL SWEEP NEUTRAL 07/21/23 $300.00 $129.1K 114 1
MDB CALL TRADE BULLISH 08/18/23 $440.00 $70.6K 216 57
MDB PUT SWEEP BULLISH 02/16/24 $250.00 $53.9K 6 264
MDB PUT SWEEP BULLISH 02/16/24 $250.00 $49.8K 6 177

Where Is MongoDB Standing Right Now?

  • With a volume of 724,121, the price of MDB is up 1.27% at $431.44.
  • RSI indicators hint that the underlying stock may be overbought.
  • Next earnings are expected to be released in 42 days.

What The Experts Say On MongoDB:

  • Capital One downgraded its action to Equal-Weight with a price target of $396
  • Piper Sandler downgraded its action to Overweight with a price target of $400
  • Truist Securities has decided to maintain their Buy rating on MongoDB, which currently sits at a price target of $420.
  • Needham downgraded its action to Buy with a price target of $430
  • Wedbush downgraded its action to Outperform with a price target of $410

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for MongoDB, Benzinga Pro gives you real-time options trades alerts.

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What Is a Real Vector Database? – The New Stack

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What Is a Real Vector Database? – The New Stack

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2023-07-19 06:16:53

What Is a Real Vector Database?

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What sets vector databases apart and how to select the right one for your project.


Jul 19th, 2023 6:16am by


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This is the second in a three-part series. 

The emergence of ChatGPT signals the start of a fresh era of artificial intelligence (AI). AI is revolutionizing everything, with vector databases becoming an essential infrastructure in the new era. This trend is not surprising, given the increasing demand for AI-powered applications.

In the first post of our three-part series, we introduced unstructured data and its processing, analysis and querying. This post will delve into vector databases, their distinctions from traditional vector retrieval methods and how to select the optimal vector database for your project.

What Is a Vector Database?

Traditional relational databases store and process data with pre-defined formats in tables and usually perform accurate searches.

By contrast, vector databases store and retrieve unstructured data such as images, audio, videos and text through high dimensional values called embeddings. Vector databases are frequently used for similarity searches using the Approximate Nearest Neighbor (ANN) algorithm. This algorithm organizes data based on spatial relationships and enables finding the nearest neighbor of a given query point in a large dataset of points.

With the rise of ChatGPT, vector databases have become even more essential for addressing issues facing large language models (LLMs).

Vector Databases vs. Vector Search Libraries

Specialized vector databases are not the only stack for similarity searches. Before the advent of vector databases, there were many vector searching libraries, such as FAISS, ScaNN and HNSW, for vector retrieval. Both stacks can query vectors, but what are the differences?

Vector search libraries have limited functionality. They can only handle a small amount of data and struggle to scale with larger datasets and higher user demand. They don’t allow any modifications to their index data and cannot be queried during data import.

By contrast, vector databases are a more optimal solution for unstructured data storage and retrieval. They can store and query millions or even billions of vectors while providing real-time responses simultaneously; they’re highly scalable to meet users’ growing business needs.

Specialized vector databases also offer many user-friendly features, including CRUD (create, read, update and delete) support, disaster recovery, role-based access control and multitenancy. Many vector database providers, such as Zilliz, offer fully managed cloud services to help users eliminate the burden of maintenance work and concentrate on their business.

Moreover, vector databases operate on a different abstraction layer than vector search libraries, serving as full-fledged services rather than components for integration. To illustrate the significance of this abstraction, let’s examine the process of adding an unstructured data element to a vector database such as Milvus.

As you can see, inserting unstructured data into Milvus is super easy with just three lines of code. However, it’s complicated when using libraries like FAISS or ScaNN. These libraries require manually recreating the entire index at checkpoints.

Vector Databases vs. Vector Search Plugins

As vector databases gain attention, many conventional databases and search systems such as Clickhouse, Elasticsearch, MongoDB and Databricks are rushing to integrate built-in vector search plugins. Elasticsearch 8.0, for example, has updated features such as vector insertion and ANN search that can be accessed through RESTful API endpoints.

However, it is important to note that vector search plugins do not offer a comprehensive approach to embedding management and vector search. They are merely add-ons to existing systems, which can limit their performance in terms of latency, capacity and throughput. Trying to build unstructured data applications on top of a traditional database is like fitting lithium batteries and electric motors inside a gas-powered car, which is not a great idea.

Vector Databases Are Essential for LLM Augmentation

With LLMs and AI applications thriving, vector databases are becoming a vital infrastructure for AI-related tech stacks.

Although LLMs are impressive in content generation, they have many limitations. For instance, they are susceptible to hallucinations due to the lack of up-to-date and domain-specific knowledge. What’s worse, LLMs’ token limit prevents you from adding extensive contextual information to prompts when making queries.

A vector database can serve as LLMs’ long-term memory and expand LLMs’ knowledge bases. It stores private data or domain-specific information outside the LLM as embeddings. When a user asks a question, the vector database searches for the top results most relevant to that question. Then, the results are combined with the original query to create a prompt that provides a comprehensive context for the LLM to generate more accurate answers. This solution is also known as a CVP stack (ChatGPT/LLMs + vector database + prompt-as-code).

LLMs charge for every token in queries. So if users ask similar or repetitive questions, they would be charged multiple times, resulting in high costs. During peak hours, responses can be very slow. To save time and effort, developers can integrate a vector database with GPTCache, an open source semantic cache that stores LLM responses. That way, when the user asks a question the LLM answered before, the vector database retrieves the answers from GPTCache and quickly returns them to users without calling the LLM.

The architecture of OSS Chat that leverages Zilliz Cloud and GPTCache.

In addition to LLM augmentation, vector databases are valuable for many use cases, including recommender systems, image/audio/video/text similarity searches, anomaly detection, question-answering systems and molecular similarity searches.

How to Choose the Most Suitable Vector Database for Your Project?

Are you struggling to choose a suitable vector database for your projects? With numerous options available, it can be overwhelming. Luckily, there’s a solution to help you make an informed decision.

VectorDBBench is an open-source benchmarking tool for vector databases. It evaluates various vector database systems regarding QPS, latency, capacity and other metrics. It is written in Python and licensed under the MIT open-source license, so anyone can freely use, modify and distribute it.

With VectorDBBench, you can select the best vector database based on actual performance rather than marketing claims. To get started, see this tutorial.

Summary

This post provides an overview of vector databases, explaining how they differ from vector retrieval libraries and vector searching plugins on top of traditional relational databases. Most importantly, we introduce VectorDBBench, an open-source benchmarking tool to help users make informed choices.

In the following post, we will introduce Milvus, the world’s first and most widely used open-source vector database and walk you through how to get started with Milvus.

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