Last week, Microsoft released the initial preview of its Unity extension for Visual Studio Code. This extension builds upon the existing C# Dev Kit and C# extensions, providing developers with a comprehensive toolkit for Unity development across Windows, macOS, and Linux. The integration aims to simplify the coding and debugging experience for Unity developers, regardless of the platform while using Visual Studio Code.
The Unity extension for Visual Studio Code brings advanced code editing capabilities, leveraging the power of Roslyn. With the newly updated open-source C# Extension, developers gain access to robust IntelliSense code completion, enhancing the coding experience. The integration of IntelliCode for C# Dev Kit extension further expands the process with AI-assisted features, such as whole-line completions and starred suggestions while coding. Unity Roslyn Analyzers project expands the extension by providing custom suggestions and targeted code fixes specifically for Unity development.
Furthermore, the extension offers debugging capabilities for Unity games. Developers can now debug their Unity games whether running within the Unity Editor or as standalone applications on various supported platforms. By pressing F5, developers can attach the debugger to their game running in the Unity Editor. Alternatively, developers can use the new Attach Unity Debugger command, which presents a list of Unity Editors and Unity Players available for debugging. The official release blog post provides detailed steps on how to start with this extension and it is highly recommended for developers to explore it.
Additionally, users are already praising the extension for its impressive speed and reliable performance compared to the previous Unity extension. On the Unity Forum, a community member wrote the following:
Just tested it and everything works as expected. It’s also pretty fast compared to the previous Unity extension. Huge thanks to the people who worked on this! Now we have an alternative to Rider for Linux…
The extension has also garnered appreciation for offering syntax colouration support for different files. While not providing full support yet, developers find it encouraging, as the same user commented:
It’s also cool that it offers syntax colouration for .asmdef, .shader, .uss, and .uxml files. Though it doesn’t offer full support, for example, using random variable names in shaders produces no errors. This is the start at least.
The community has expressed their desire for official support for common snippets, similar to the functionalities of this extension. While appreciating the extension’s convenience, a user suggested:
Can we also have official support for common snippets like this extension? Nothing wrong with it, just makes it very convenient to have all functionality in one extension.
In response to the community member’s comment, the author of the official post, Jb Evain, expressed gratitude for the positive feedback on the new Unity extension for Visual Studio Code. They acknowledged the suggestion regarding official support for common snippets, stating that the team had recently discussed addressing boilerplate code concerns. While no specific announcements were made, they reassured the community that user feedback is valued and will be taken into consideration for future improvements to the extension.
Lastly, regarding the licencing and usage of Unity extension for Visual Studio Code, the release’s official blog post states the following:
C# Dev Kit and the Unity extension for Visual Studio Code are built on the same foundations as Visual Studio, they are licensed under similar terms as Visual Studio. This means they are free for individuals, academia, and open-source development, just like the terms that apply to Visual Studio Community. For organizations, C# Dev Kit and its family of extensions are included with Visual Studio Professional and Enterprise subscriptions, as well as GitHub Codespaces. For additional details, please refer to the license terms.
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Almir Vuk
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The external fund manager backed by Berkshire Hathaway’s Charlie Munger, Li Lu, makes no bones about it when he says ‘The biggest investment risk is not the volatility of prices, but whether you will suffer a permanent loss of capital.’ So it seems the smart money knows that debt – which is usually involved in bankruptcies – is a very important factor, when you assess how risky a company is. We can see that MongoDB, Inc. (NASDAQ:MDB) does use debt in its business. But should shareholders be worried about its use of debt?
When Is Debt Dangerous?
Generally speaking, debt only becomes a real problem when a company can’t easily pay it off, either by raising capital or with its own cash flow. In the worst case scenario, a company can go bankrupt if it cannot pay its creditors. However, a more frequent (but still costly) occurrence is where a company must issue shares at bargain-basement prices, permanently diluting shareholders, just to shore up its balance sheet. Of course, the upside of debt is that it often represents cheap capital, especially when it replaces dilution in a company with the ability to reinvest at high rates of return. The first step when considering a company’s debt levels is to consider its cash and debt together.
The chart below, which you can click on for greater detail, shows that MongoDB had US$1.14b in debt in April 2023; about the same as the year before. However, its balance sheet shows it holds US$1.90b in cash, so it actually has US$762.7m net cash.
NasdaqGM:MDB Debt to Equity History August 6th 2023
How Healthy Is MongoDB’s Balance Sheet?
Zooming in on the latest balance sheet data, we can see that MongoDB had liabilities of US$532.6m due within 12 months and liabilities of US$1.26b due beyond that. Offsetting this, it had US$1.90b in cash and US$211.6m in receivables that were due within 12 months. So it actually has US$326.9m more liquid assets than total liabilities.
Having regard to MongoDB’s size, it seems that its liquid assets are well balanced with its total liabilities. So it’s very unlikely that the US$28.3b company is short on cash, but still worth keeping an eye on the balance sheet. Succinctly put, MongoDB boasts net cash, so it’s fair to say it does not have a heavy debt load! When analysing debt levels, the balance sheet is the obvious place to start. But ultimately the future profitability of the business will decide if MongoDB can strengthen its balance sheet over time. So if you want to see what the professionals think, you might find this free report on analyst profit forecasts to be interesting.
Over 12 months, MongoDB reported revenue of US$1.4b, which is a gain of 40%, although it did not report any earnings before interest and tax. With any luck the company will be able to grow its way to profitability.
So How Risky Is MongoDB?
Although MongoDB had an earnings before interest and tax (EBIT) loss over the last twelve months, it generated positive free cash flow of US$24m. So although it is loss-making, it doesn’t seem to have too much near-term balance sheet risk, keeping in mind the net cash. We think its revenue growth of 40% is a good sign. We’d see further strong growth as an optimistic indication. There’s no doubt that we learn most about debt from the balance sheet. But ultimately, every company can contain risks that exist outside of the balance sheet. Case in point: We’ve spotted 3 warning signs for MongoDB you should be aware of.
If, after all that, you’re more interested in a fast growing company with a rock-solid balance sheet, then check out our list of net cash growth stocks without delay.
What are the risks and opportunities for MongoDB?
MongoDB, Inc. provides general purpose database platform worldwide.
Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Tabnine has recently announced the beta of Tabnine Chat to interact with Tabnine’s AI models using natural language. The chat application works inside the IDE, allows organizations to train on permissive code only, and can run on isolated environment deployment.
The new chat functionality uses Tabnine’s large language models and expands the AI assistant beyond code generation, explaining existing code, searching code repositories, and generating new code according to natural language specifications.
According to Tabnite, the chat application supports strict security and compliance enterprise requirements, managing private codebases, permissible open-source code, and Stack Overflow questions and answers. Dror Weiss, founder and CEO at Tabnine, explains:
Tabnine Enterprise also allows isolated environment deployment using Virtual Private Cloud or on-premises deployment, ensuring total code privacy and security. In addition, Tabnine Chat was only trained on open-source code with permissive licenses, guaranteeing that our models aren’t trained on GPL or other copyleft code.
By connecting internal repositories to Tabnine Chat, organizations with a large set of internal APIs, libraries, services, and best practices can improve productivity. Weiss highlights how the new chat can help knowledge proliferation:
Large organizations can leverage Tabnine Chat to disseminate coding expertise, best practices, and lessons learned from the extensive codebase as well as data sources like Jira, Notion, documentation, etc. This makes knowledge more easily accessible to all developers and enables new team members to ramp up far more quickly.
The chat application can also help developers by providing insights into the code’s structure, intent, and performance. Other expected use cases are refactoring and extending code with more capabilities, for example, logging or generating documentation (docstrings) for specific sections of code. The team released a video to show some of the new chat features.
The frontend application is a React application embedded in a webview, currently available in VS Code and JetBrains IDEs, and supports all the popular programming languages. Amir Bilu, software engineer at Tabnine, shows instead in an article how to integrate Tabnine Chat for Neovim using Tauri.
Tabnine is a code completion assistant that utilizes generative AI to predict and suggest the next lines of code. In the last few months, the AI company introduced unit test generation, support for Eclipse, and Single Sign-On (SSO) for self-hosted deployments.
Tabnine Chat will be available to Tabnine Enterprise and Pro users only, with Pro plans currently starting at 12 USD per month per user. To join the waiting list for the private beta of Tabnine Chat, developers have to fill out a form.
Tabnine is not the only company offering an AI “pair programming” tool, with GitHub Copilot and Amazon CodeWhisperer other popular IDE-based options.
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Renato Losio
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Going from raw data to features to use to train ML models is a complex and time-consuming task, explains AirBnb engineer and Chronon creator Nikhil Simha, requiring engineers to extract data from AirBnb data warehouse and write complex ETL logic to convert them into features. An additional stumbling block comes from the need to ensure that the logic produces the same feature distribution for inference as for training.
Chronon attempts to address those issues, says Simha, by allowing ML engineers to define features and centralize data computation in a replicable way across training and inference.
As a user, you need to declare your computation only once, and Chronon will generate all the infrastructure needed to continuously turn raw data into features for both training and serving. ML practitioners at AirBnb no longer spend months trying to manually implement complex pipelines and feature indexes. They typically spend less than a week to generate new sets of features for their models.
A first component of Chronon enables ingesting data from a variety of sources, including event data sources, entity data sources, and cumulative event sources, each of which collects different types of data.
Once ingested, data can be transformed using SQL-like operations and aggregations, which produce low-latency endpoints to use for serving models online, and Hive tables to use for offline training. Under the hood, Chronon builds pipelines using Kafka, Spark/Spark Streaming, Hive, and Airflow. SQL-like operations include GroupBy, Join, and StagingQuery, which are Spark SQL queries computed offline once a day. Aggregations include windows, buckets, and time-based aggregations.
Finally, a Python API is also available, which provides SQL-like primitives and understands time-based aggregation and windowing as first-class concepts. For example, using the Python API, you can filter and transform the number of times an item is viewed by a user in the last five hours.
One important concept in Chronon is that of accuracy, i.e. how frequently feature values are updated, either in real-time or at fixed intervals. The correct accuracy to use depends on the specific use case, so Chronon allows its users to easily specify the accuracy of a computation as temporal or snapshot.
At the moment of this writing, it is not clear whether AirBnb will make Chronon available on GitHub, but you will find the discussion in the original article an interesting read if you want to set up your own feature engineering pipeline.
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Sergio De Simone
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August 4, 2023 – MongoDB, Inc. (NASDAQ:MDB) has caught the attention of investors and analysts as Ellevest Inc. significantly increased its holdings in the company during the first quarter of this year. According to a recent disclosure with the Securities and Exchange Commission, Ellevest Inc.’s holdings in MongoDB rose by an impressive 396.6%. The company now owns 437 shares of MongoDB, worth $102,000.
This development comes after MongoDB posted its quarterly earnings data on June 1st. The company surprised analysts by reporting earnings per share (EPS) of $0.56 for the quarter, surpassing their consensus estimate of $0.18 by a significant margin of $0.38. Additionally, MongoDB recorded revenue of $368.28 million, outperforming analyst estimates of $347.77 million.
It is noteworthy that MongoDB had a negative return on equity of 43.25% and a negative net margin of 23.58%. These figures demonstrate the challenges faced by the business but do not seem to have dampened investor enthusiasm or hindered Ellevest’s decision to increase its stake in the company.
Numerous analyst reports have offered insights into MDB’s prospects and performance, contributing to its current buzz among investors and analysts alike.
Needham & Company LLC issued a research report on June 2nd which raised their target price for MDB from $250 to $430 per share. Similarly, Piper Sandler increased their target price for MDB from $270 to $400 per share in another report published on the same day.
On May 25th, Guggenheim downgraded their rating on MDB from “neutral” to “sell.” However, they also increased their price target for the stock from $205 to $210 per share based on perceived valuation changes.
Royal Bank of Canada stood out with their substantial increase in MDB’s target price from $400 to $445 per share in their report on June 23rd. The substantial optimism expressed by analysts reflects a positive sentiment surrounding MongoDB’s future prospects.
Furthermore, according to Bloomberg.com data, twenty analysts have issued a buy rating for MDB, three have assigned a hold rating, and only one has given it a sell rating. Overall, there is an average target price of $378.09 per share, suggesting a potential upside from the current valuation.
In summary, Ellevest Inc.’s bold move to increase its holdings in MongoDB indicates confidence in the company’s future performance despite recent challenges. MongoDB’s strong quarterly earnings and improved revenue trajectory have captured the interest of analysts who are consistently raising their target prices for the stock. The consistent and positive analyst sentiment surrounding MDB further reinforces its status as a promising investment option in the market.
Institutional Investors Boost Confidence in MongoDB as Investments Surge
Investment in MongoDB Surges as Institutional Investors Show Confidence
August 4, 2023 – MongoDB, Inc. has experienced a significant increase in the stakes held by institutional investors, showcasing a growing wave of confidence in the company’s potential. One such investor, Raymond James & Associates, has raised its stake by an impressive 32.0% during the first quarter. This increase translates to 1,192 additional shares worth $2,183,000. PNC Financial Services Group Inc., another institutional investor, also demonstrated its faith in MongoDB by boosting its position in the company by 19.1% during the first quarter.
MetLife Investment Management LLC has seized an opportunity to invest in MongoDB and purchased a new stake amounting to approximately $1,823,000 during the same quarter. Panagora Asset Management Inc. followed suit and increased its position by buying an additional 176 shares valued at $877,000.
An extraordinary ascent can be observed from Vontobel Holding Ltd., which ramped up its investment with a remarkable 100.3% increase during the first quarter. With this surge, Vontobel Holding now possesses 2,873 shares of MongoDB worth $1,236,000.
The success story continues as data reveals that an astonishing 89.22% of MongoDB’s stock is currently owned by institutional investors and hedge funds alike. This remarkable level of ownership is testament to the trust placed in this technology leader.
In other significant news for shareholders and stakeholders alike, Chief Revenue Officer Cedric Pech recently sold a substantial number of shares on May 9th at an average price of $250 per share. The transaction saw Pech generating a total amount of $3,883,500 through selling off his share holdings.
Another notable transaction involved Director Dwight A. Merriman selling 3,000 shares of MongoDB’s stock on June 1st at an average price of $285.34, resulting in a transaction value of $856,020.
The Securities & Exchange Commission was duly informed about these transactions through legal filings. The details are available through hyperlinks accessed within the SEC website. These disclosures have been crucial to ensure transparency and reinforce trust among shareholders.
As regards recent stock market performance, MongoDB has been experiencing ongoing upward movement, with NASDAQ: MDB opening at $402.80 on August 4, 2023. Over the past year, the company’s stock reached both a high of $439.00 and a low of $135.15.
MongoDB maintains a strong financial position with a current ratio and quick ratio both standing at 4.19. Furthermore, the company boasts a debt-to-equity ratio of 1.44.
Market analysts note that MongoDB’s impressive fifty-day simple moving average stands at $386.16, while its two hundred-day simple moving average holds steady at $281.39.
These investments and recent developments serve as noteworthy indicators of MongoDB’s growth trajectory and market perception. As institutional investors display their confidence in the company’s potential and leadership team, MongoDB continues to captivate the tech industry with its robust offerings and visionary approach to data management.
Friday, August 04, 2023 12:02 PM | InvestorsObserver Analysts
Mentioned in this article
Mongodb Inc (MDB) is around the top of the Software – Infrastructure industry according to InvestorsObserver. MDB received an overall rating of 57, which means that it scores higher than 57 percent of all stocks. Mongodb Inc also achieved a score of 72 in the Software – Infrastructure industry, putting it above 72 percent of Software – Infrastructure stocks. Software – Infrastructure is ranked 65 out of the 148 industries.
MDB has an Overall Score of 57. Find out what this means to you and get the rest of the rankings on MDB!
What do These Ratings Mean?
Trying to find the best stocks can be a daunting task. There are a wide variety of ways to analyze stocks in order to determine which ones are performing the strongest. InvestorsObserver makes the entire process easier by using percentile rankings that allows you to easily find the stocks who have the strongest evaluations by analysts.
These scores are not only easy to understand, but it is easy to compare stocks to each other. You can find the best stock in an industry, or look for the sector that has the highest average score. The overall score is a combination of technical and fundamental factors that serves as a good starting point when analyzing a stock. Traders and investors with different goals may have different goals and will want to consider other factors than just the headline number before making any investment decisions.
What’s Happening With Mongodb Inc Stock Today?
Mongodb Inc (MDB) stock is trading at $411.40 as of 11:53 AM on Friday, Aug 4, an increase of $8.60, or 2.14% from the previous closing price of $402.80. The stock has traded between $405.49 and $423.95 so far today. Volume today is low. So far 853,853 shares have traded compared to average volume of 1,515,583 shares.
In the past three months, there has been a noticeable trend in the options history of MongoDB. Whales, or large investors, have consistently targeted a price range for the stock, ranging from $350.0 to $460.0. This indicates a deliberate strategy by these influential players.
Among the notable options trades, a bearish put trade stands out. This trade has an expiration date of 09/15/23 and a strike price of $440.00. The total trade price for this put trade is $38.5K, and it has attracted an open interest of 48. Additionally, a bearish call trade with an expiration date of 09/15/23 and a strike price of $420.00 has been observed. The total trade price for this call trade is $38.2K, and it has an open interest of 204.
As of August 4, 2023, the price of MDB has experienced a 4.5% increase, reaching $420.91. However, caution should be exercised as the RSI indicators suggest that the stock may be approaching overbought territory. This implies that the stock’s price may have risen too quickly and could potentially experience a correction.
It is important to emphasize that options trading carries inherent risks, and investors should conduct thorough research before making any investment decisions. The information provided here serves as a general observation and should not be solely relied upon for making financial choices.
Promising Stock Performance of MongoDB Inc. (MDB) on August 4, 2023: Strong Opening Price, Wide Trading Range, and Impressive Earnings Growth
On August 4, 2023, MongoDB Inc. (MDB) had a strong start to the trading day. The stock opened at $415.09, significantly higher than the previous day’s closing price of $402.80. Throughout the day, MDB’s stock price fluctuated between a low of $406.39 and a high of $423.50. The trading volume for the day was 18,315 shares. The market capitalization of MDB stands at $29.1 billion.
MDB has shown impressive earnings growth over the past year. While its earnings growth for the previous year was -5.89%, the company has experienced a substantial turnaround with a positive earnings growth of +92.12% for the current year. Looking ahead, analysts predict that MDB’s earnings will continue to grow at a steady rate of 8.00% over the next five years.
The company’s revenue growth for the previous year was a remarkable +46.95%. However, it is important to note that MDB’s price-to-earnings (P/E) ratio is not available (NM), which suggests that the company may not be currently profitable or that its earnings are not significant enough to calculate a meaningful ratio.
In terms of valuation, MDB’s price/sales ratio is 11.45, indicating that investors are willing to pay a premium for each dollar of the company’s sales. Additionally, the price/book ratio is 39.00, suggesting that the stock is trading at a significant premium to its book value.
When comparing MDB’s performance to other technology services companies on August 4, 2023, ANSYS Inc. (ANSS) saw a decrease of -4.07 (-1.33%), Veeva Systems Inc. (VEEV) had a slight decline of -0.16 (-0.08%), and Take-Two Interactive Software Inc. (TTWO) experienced a decrease of -2.69 (-1.85%).
Looking ahead, MDB’s next reporting date is scheduled for August 31, 2023. Analysts forecast an earnings per share (EPS) of $0.46 for the current quarter. In the previous year, MDB reported an annual revenue of $1.3 billion, but incurred a net loss of -$345.4 million. The company’s net profit margin stands at -26.90%, indicating that it is currently operating at a loss.
MDB operates in the technology services sector and is involved in the packaged software industry. The company is headquartered in New York, New York.
Overall, MDB showed promising stock performance on August 4, 2023, with a significant increase in the opening price and a wide trading range throughout the day. The company’s strong earnings growth for the current year and positive revenue growth for the previous year indicate its potential for future success. However, investors should consider the company’s negative net profit margin and the premium valuation ratios when making investment decisions.
MongoDB Inc (MDB) Stock: Positive Outlook and Potential for Growth in 2023
On August 4, 2023, MongoDB Inc (MDB) stock performed well, with analysts predicting a positive outlook for the company. The 22 analysts offering 12-month price forecasts for MDB had a median target of $424.50, indicating a potential increase of 3.98% from the previous closing price of $408.25. The highest estimate for the stock price was $462.00, while the lowest estimate stood at $210.00.
According to CNN Money, the current consensus among 28 polled investment analysts is to buy stock in MongoDB Inc. This rating has remained unchanged since July, indicating a consistent positive sentiment towards the company’s prospects.
MongoDB Inc, a leading provider of a general-purpose database platform, has been making significant strides in the industry. The company’s current quarter earnings per share stood at $0.46, reflecting a strong financial performance. Additionally, MongoDB reported sales of $393.7 million, further highlighting its robust performance in the market.
Investors can expect more insights into MongoDB’s financial performance as the company is scheduled to release its next earnings report on August 31, 2023. This will provide a clearer picture of the company’s growth trajectory and potential for future returns.
Overall, the outlook for MDB stock on August 4, 2023, appears positive. The median price target from analysts suggests a potential increase in the stock price, while the consensus among investment analysts is to buy the stock. Investors should keep an eye on the upcoming earnings report for further insights into MongoDB Inc’s performance and potential investment opportunities.
Janney Montgomery Scott LLC increased its position in MongoDB, Inc. (NASDAQ:MDB – Free Report) by 79.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,718 shares of the company’s stock after acquiring an additional 1,206 shares during the quarter. Janney Montgomery Scott LLC’s holdings in MongoDB were worth $634,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James & Associates increased its holdings in shares of MongoDB by 32.0% in the 1st quarter. Raymond James & Associates now owns 4,922 shares of the company’s stock worth $2,183,000 after buying an additional 1,192 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in MongoDB by 19.1% in the first quarter. PNC Financial Services Group Inc. now owns 1,282 shares of the company’s stock valued at $569,000 after acquiring an additional 206 shares during the last quarter. MetLife Investment Management LLC purchased a new stake in MongoDB during the first quarter valued at about $1,823,000. Panagora Asset Management Inc. lifted its stake in MongoDB by 9.8% during the first quarter. Panagora Asset Management Inc. now owns 1,977 shares of the company’s stock worth $877,000 after purchasing an additional 176 shares during the last quarter. Finally, Vontobel Holding Ltd. increased its position in shares of MongoDB by 100.3% during the 1st quarter. Vontobel Holding Ltd. now owns 2,873 shares of the company’s stock valued at $1,236,000 after purchasing an additional 1,439 shares during the last quarter. Institutional investors own 89.22% of the company’s stock.
Insider Activity
In other news, CRO Cedric Pech sold 15,534 shares of the stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $250.00, for a total transaction of $3,883,500.00. Following the sale, the executive now owns 37,516 shares in the company, valued at $9,379,000. The transaction was disclosed in a filing with the SEC, which is available at this link. In other MongoDB news, CAO Thomas Bull sold 516 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $406.78, for a total transaction of $209,898.48. Following the completion of the sale, the chief accounting officer now directly owns 17,190 shares in the company, valued at approximately $6,992,548.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CRO Cedric Pech sold 15,534 shares of the firm’s stock in a transaction on Tuesday, May 9th. The stock was 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 in the company, valued at $9,379,000. The disclosure for this sale can be found here. Insiders sold 114,427 shares of company stock worth $40,824,961 over the last three months. 4.80% of the stock is currently owned by corporate insiders.
MongoDB Stock Performance
Shares of MDB stock opened at $402.80 on Friday. The company has a current ratio of 4.19, a quick ratio of 4.19 and a debt-to-equity ratio of 1.44. The company’s fifty day moving average price is $386.16 and its 200-day moving average price is $281.39. The stock has a market cap of $28.43 billion, a PE ratio of -86.25 and a beta of 1.13. MongoDB, Inc. has a 12 month low of $135.15 and a 12 month high of $439.00.
MongoDB (NASDAQ:MDB – Get Free Report) last announced its quarterly earnings data on Thursday, June 1st. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.38. The business had revenue of $368.28 million for the quarter, compared to analysts’ expectations of $347.77 million. MongoDB had a negative net margin of 23.58% and a negative return on equity of 43.25%. The business’s revenue was up 29.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.15) earnings per share. On average, equities analysts expect that MongoDB, Inc. will post -2.8 EPS for the current fiscal year.
Analysts Set New Price Targets
MDB has been the subject of several research reports. Robert W. Baird upped their target price on MongoDB from $390.00 to $430.00 in a research note on Friday, June 23rd. Stifel Nicolaus increased their target price on shares of MongoDB from $375.00 to $420.00 in a report on Friday, June 23rd. Needham & Company LLC boosted their price target on shares of MongoDB from $250.00 to $430.00 in a research note on Friday, June 2nd. Truist Financial upped their price target on shares of MongoDB from $365.00 to $420.00 in a research report on Friday, June 23rd. Finally, Barclays lifted their price objective on MongoDB from $374.00 to $421.00 in a report on Monday, June 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, MongoDB presently has an average rating of “Moderate Buy” and a consensus target price of $378.09.
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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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, 6 are puts, for a total amount of $173,730 and 6, calls, for a total amount of $189,301.
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 $350.0 to $460.0 for MongoDB over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
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 activity within a strike price range from $350.0 to $460.0 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
PUT
TRADE
BEARISH
09/15/23
$440.00
$38.5K
48
14
MDB
CALL
TRADE
BEARISH
09/15/23
$420.00
$38.2K
204
19
MDB
CALL
TRADE
BULLISH
09/15/23
$410.00
$34.4K
99
12
MDB
CALL
TRADE
NEUTRAL
12/15/23
$350.00
$31.3K
13
1
MDB
CALL
TRADE
NEUTRAL
08/04/23
$387.50
$29.9K
23
10
Where Is MongoDB Standing Right Now?
With a volume of 283,325, the price of MDB is up 4.5% at $420.91.
RSI indicators hint that the underlying stock may be approaching overbought.
Next earnings are expected to be released in 26 days.
What The Experts Say On MongoDB:
JMP Securities has decided to maintain their Outperform rating on MongoDB, which currently sits at a price target of $425.
Keybanc has decided to maintain their Overweight rating on MongoDB, which currently sits at a price target of $462.
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MongoDB (NASDAQ:MDB) is a sell based on a DCF valuation analysis with assumptions such as 15-20 % growth rates, an 8 % discount rate, and a 35 terminal multiple. The company is facing lots of competition in its high-growth market.
Introduction to Company
MongoDB inc. is an American software company offering its namesake document database program, MongoDB. Founded in 2009, MongoDB provides solutions for storing and querying large amounts of unstructured data which started accumulating with the rise of many large web platforms. It was innovative in developing document-oriented database systems as an often-cheaper alternative to relational databases.
Market Trends, Innovation, and Strategy
In general, MongoDB’s products are priced such that the more their products are used, the more MongoDB demands in payment. As can be inferred from the pricing table below, their MongoDB Atlas developer platform’s cost is determined by the chosen server’s storage, memory and CPU power, meaning large, demanding applications built with MongoDB cost more than the immediate start-up.
MDB World 2022 Investor Session Presentation
And can be seen in the above picture, this is not a bad market to be in. As an ever-larger pool of applications will be built and the existing ones will generate ever more data, this means demand for good data management solutions will only increase.
As the most popular NoSQL database, the firm has based its strategy to win even more market share on 1) Making migration from other data management systems to MongoDB’s easier, 2) Optimizing data management products for other types of work such as Time Series, Search, and Analytics, and 3) Optimizing its data management products for other applications architectures such as Serverless and Edge. With this strategy, the company has had success in bringing in more customers as can be seen in the following table:
Q1 2024 MongoDB Press Release
Financials
In its latest fiscal Q1 2024 results, MongoDB has reported Total Revenue of 368,280 K USD, a 29 % increase from the Q3 2023 figure of 285,447 K USD which is great feat compared to Data Management Software Market’s growth from the year 2022 to 2023 of 12.9 %. This results in Q1 2024 gross profit of 270,831 K USD, 30.6 % larger than Q1 2023’s 207,232 K USD. While impressive sales growth, the company has also upped its total operating expenses, which are comprised by the items Sales and Marketing, Research and Development, and General and Administrative, by 20 % compared to Q1 2023. In Q1 2024, Total Operating Expenses were 339,378 K USD while Q1 2023 were at 283,172 K USD. Although the operating expenses have risen, the figures result in a less-negative Net Income in Q1 2024 of -54,246 K USD compared to Q1 2023’s Net Income of -77,294 K USD. This is a result of both increased sales but also a large income of 16,788 K USD recognized under the post Other Income, often used for income generated from other sources than the company’s main business lines.
In its balance sheet, the company’s Q1 2024 Total Assets 2,580,525 K USD didn’t change much from the Q1 2023 number 2,588,893. The company’s value of its short-term investments went from 1,380,804 K USD in Q1 2023 to 1,181,641 K USD in Q1 2024 while its Cash and Cash Equivalents went up from 455,826 to 721,787 K USD, meaning a large portion of its short-term investments has matured. On the liability side, its Total Liabilities decreased from Q1 2023 figure of 1,849,385 K USD to 1,788,096 with most of the change stemming from decreases in the Accrued Compensation and Benefits item and the Deferred Revenue item.
Regarding free cash flow, the company has had its best quarter ever with Free Cash Flow of 51,765 K USD resulting in Free Cash Flow per share of 0.73 USD which annualized is 2.92 USD.
Valuation
Valuing a company like MongoDB is tricky, both due to its history of negative earnings and cash flows and operating in a high-growth industry. Nonetheless, with the Q1 2024 Total Revenue 368,280 K USD and its market capitalization of 29 B USD, the price-to-sales ratio is 19.6, indicating strong overvaluation on its own.
Using the Free Cash Flow per share figure 2.92 USD, a growth rate of 20 % in the first 5 years and 15 % in the subsequent 5, a discount rate of 8 %, and a terminal multiple of 35, one can arrive at a per-share value of 262 USD:
Made in Excel with data from Q1 2024 Press Release
While a multiple of 35 seems demandable in a growth market like MongoDB’s, estimating the growth in the company’s financials is the tricky part as they are both operating in a growing market as well as taking market share. Assuming that the company’s strategy in taking over the market will be successful, one can assume even higher growth rates in its free cash flow of 30 % in the first 5 years and 20 in the 5-10 next years:
Made in Excel with data from Q1 2024 Press Release
Which amounts to a share price of 467 USD, only 13 % higher than the current market price of 413 USD, meaning this seems to be what the market is assuming will happen.
Risks
While a promising market, MongoDB faces substantial competition from other database providers such as IBM, Microsoft, Oracle, Amazon, and Google. Especially Oracle was a trailblazer in the 1970s, spreading the use of relational databases which stores data in rows and columns and not in so-called documents such as MongoDB’s. While Oracle was a pioneer back then, MongoDB’s offerings scale better with its horizontal scaling option than Oracle’s traditional databases, making them cheaper for today’s needs.
Oracle MongoDB Comparison
With winds blowing in favour of noSQL databases such as MongoDB’s, in 2011, Oracle released their first version of the non-relational database, 2 years after MongoDB released their offering. Although lots of non-relational database systems have entered the market, MongoDB was recently named a 2022 Leader in the cloud database management system market by consulting firm Gartner.
Another risk is a recession which would impact customers’ willingness to pay for IT services, thus lowering MongoDB revenue. Another considerable risk is that of technological innovation or, that other, more promising solutions might outcompete MongoDB’s offerings. This can work both ways for MongoDB.
Conclusion
While MongoDB’s financials and market position indicate an exciting investment, it is advisable for conservative investors to wait for substantially lower prices before taking a position in this company unless one truly believes in MongoDB as the winner of the high-growth Data Management Software market. While the company has a record of increasing Total Revenue, it also has had many years of negative earnings and free cash flow. Other risks include fierce competition from other large IT companies and potential economic headwinds.
Janney Montgomery Scott LLC increased its position in MongoDB, Inc. (
