Month: September 2023
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New Delhi: As cybersecurity threats continue to rise, every organization is looking at ways to combat the menace. In an interview, Lena Smart, chief information security officer (CISO) at database firm MongoDB, said while it is important to invest in technologies for safety and security within the company, the need of the hour is to build a culture of cyber trust and a strong cybersecurity policy to ensure the entire organization moves in the right direction. Smart, who is also a founding partner of cybersecurity at MIT Sloan (CAMS), talks about the CISO’s changing role in response to the increasing threats, bringing more women in cybersecurity and more. Edited excerpts:
What are the emerging areas you see in cybersecurity today?
The top three evolving areas in cybersecurity according to me are—the use of AI, increasing regulations, and continuous monitoring. Generative AI is clearly big and has the potential to revolutionize many aspects of our lives. However, it also poses some security risks, such as data security, model security, bias and privacy. Organizations can mitigate these risks by following the best practices to ensure that generative AI is used in a safe and responsible manner.
Secondly, for securing critical infrastructure, global regulations and standards around cybersecurity should be prioritized. In the US, we’ve got new rules from the Securities and Exchange Commission (SEC) on cybersecurity governance and disclosure. The Indian government recently passed the Digital Personal Data Protection Act (DPDP). All these initiatives aim to protect data principles and restrict the activities of data fiduciaries. We can expect more regulations to come in the coming months, which means that we have to be almost continuously monitoring our security posture. By ‘continuously monitoring’ an organization’s network and systems, I mean, detecting cyber threats and proactively responding to minimize damage from a data breach or other security incidents.
What percentage of the overall tech budget goes to cybersecurity in your organization?
Cybersecurity is something we absolutely prioritize and it forms around 10-15% of our overall tech budget. The MongoDB leadership understands the need for investing in a strong security posture and in technologies that can help us stay secure in a changing world. With the role of the CISO carrying enormous responsibility, the management has realized that cybersecurity has a seat at the table, and we’re meeting frequently with leadership to ensure we have the appropriate investments to help keep our products, employees, and customers safe and secure.
Technologies like cloud and network security as well as generative AI require a lot of skilling, and re-skilling. Given the huge skills gap in cybersecurity, how are you addressing this challenge?
So, rather than try and find rare experts from outside, we look internally to fill some of those gaps in skills. We have a Security Champions programme here with over 120 members globally, including India. And we give training to people to become a cybersecurity professional. The best part is, they need not be part of the cybersecurity team. We help them understand and give them training in areas like phishing exercises, penetration testing of AI models to see if they can do things like prompt injection attacks to get the model to behave in unintended or unsafe ways. We conduct monthly training classes for all employees on things like how to secure your home Wi-Fi and obviously we’re doing a lot of training on AI now, too. Just building that culture of trust has been super important to us and we now have a completion level of over 98% for our training, for our security training, which is almost unheard of. So definitely there’s a good culture of security here.
How has the CISO’s role evolved or changed in response to the increasing threat, especially in the last 2-3 years?
One area that has changed in the last few years is that the CISO’s role has become more outward-facing. You don’t just invest in a technology, you need to build relationships, and that makes purchasing software so much easier. When it comes to security risks, the key questions the CISO should pose are—what are you trying to protect, how, and why and not just invest in a software that is trending. Also in our organization, we prioritised bringing the entire security system under one umbrella over the past three years. And no matter where you are working, it is important to build a broader culture of security. So, the role has definitely evolved from being focused only on guardrails, policy, and risk management to being more of an outward-facing role to help change how people think about and prioritize security. As a service provider, for example, you need to give more freedom and flexibility to customers. Like, our MongoDB Atlas has best in class security, and we give our customers many choices when it comes to securing their applications. Finally, not just the security teams, but the top management at MongoDB believes in continuously learning and encouraging new ways to protect revenues, reputation and regulatory compliance—which in turn helps security get a seat in the boardroom.
As someone championing the cause of diversity in cybersecurity, how do you get more women leaders in the field?
We have many focus groups in MongoDB that work on getting more women in leadership positions. We help them stay up to date with the latest trends, technologies and processes through our workshops and training programmes. We also have a strong ‘returnship’ programme for women especially, and we make sure that they’ve got the support that they need to fit into the team when back. We have a very good and transparent policy regarding working from home. Given our global workforce, MongoDB has excelled at enabling our employees to work in both remote and hybrid environments while prioritizing employee communications to make sure everyone feels safe and supported. Just under 50% of my team are female and we make sure we are actively and proactively recruiting underrepresented groups for roles above a certain level.
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Updated: 25 Sep 2023, 10:41 PM IST
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MMS • Sergio De Simone
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When it comes to deploying Large Language Models (LLMs) in production, the two major challenges originate from the huge amount of parameters they require and the necessity of handling very long input sequences to represent contextual information. Hugging Face has documented a list of techniques to tackle those hurdles based on their experience serving such models.
The three techniques Hugging Face researches Patrick von Platen describes in his article are operating at a reduced numerical precision, using a variation of the attention algorithm known as Flash Attention, and using specialized architectures for inference.
LLMs require huge quantity of VRAM to be loaded, ranging from dozens (bigcode/starcoder) to hundreds of gigabytes (Llama, Bloom, GPT3). A first optimization is possible by switching from float32`` to bfloat16“ precision:
Almost all models are trained in bfloat16 nowadays, there is no reason to run the model in full float32 precision if your GPU supports bfloat16. Float32 won’t give better inference results than the precision that was used to train the model.
This enables halving the overall memory consumption but, unfortunately, required memory could still be too much in many cases. A more aggressive approach consists then in quantizing model weights to 8-bit or 4-bits, which has been shown not to cause a significant performance loss.
Quantization works especially well for text generation since all we care about is choosing the set of most likely next tokens and don’t really care about the exact values of the next token logit distribution.
This will enable further reducing required memory, which makes it possible to run the smaller models on off-the-shelf GPUs with just 16GB of VRAM, albeit at the cost of slightly longer inference time.
Using Flash Attention, a novel algorithm for the self-attention layers LLMs apply to understand the contextual relationships between input tokens, is another key optimization, says von Platen, since it makes it possible to break the quadratic growth of the layers with the number of input tokens.
The algorithm is too complex to summarize here, but it suffices to say that using softmax normalization statistics and some smart mathematics, it provides identical outputs while only requiring memory that grows linearly with input tokens. Inference performance is also benefited thanks to the algorithm using faster SRAM instead of the slower GPU VRAM.
In practice, there is currently absolutely no reason to not use Flash Attention if available. The algorithm gives mathematically the same outputs, and is both faster and more memory-efficient.
The third area where LLMs can be optimized in production is choosing the right architecture for them to be able to handle long text inputs effectively and efficiently. Here recent research can help to make the right choice with two components that quickly become bottlenecks, says von Platen, positional embeddings and the key-value cache.
Positional embeddings provide a cue for an LLM to understand sequence order by encoding the position of each token into a numerical presentation. For LLMs intended to solve tasks requiring handling large text inputs, relative positional embeddings such as RoPE and ALiBi should be used for training.
Both RoPE and ALiBi position encodings can extrapolate to input lengths not seen during training whereas it has been shown that extrapolation works much better out-of-the-box for ALiBi as compared to RoPE.
Both algorithms are already available in a number of current LLMs.
The key-value chat can be used as a means to encode the context of a conversation. The key-value cache grows by one element at each new interaction, which is much more effective than the alternative approach of encoding/decoding the context with each request. von Platen goes into the details of two classes of key-value caches, namely Multi-Query-Attention (MQA) and Grouped-Query-Attention (GQA) to show the advantages they bring.
von Platen’s article cover much more ground than can be summarized here and provides hands-on examples to demonstrate his points, so do not miss his article for the full picture.
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HB Wealth Management LLC purchased a new stake in shares of MongoDB, Inc. (NASDAQ:MDB – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 580 shares of the company’s stock, valued at approximately $238,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its position in 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 worth $1,770,313,000 after buying an additional 897,911 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of MongoDB by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 5,970,224 shares of the company’s stock worth $2,648,332,000 after purchasing an additional 121,201 shares during the period. State Street Corp grew its holdings in MongoDB by 1.8% during the 1st 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. 1832 Asset Management L.P. raised its position in MongoDB by 3,283,771.0% in the 4th quarter. 1832 Asset Management L.P. now owns 1,018,000 shares of the company’s stock worth $200,383,000 after purchasing an additional 1,017,969 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of MongoDB by 3.8% during the first quarter. Geode Capital Management LLC now owns 967,289 shares of the company’s stock valued at $225,174,000 after buying an additional 35,541 shares during the period. 88.89% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at MongoDB
In other MongoDB news, CEO Dev Ittycheria sold 50,000 shares of the business’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $407.07, for a total transaction of $20,353,500.00. Following the sale, the chief executive officer now owns 218,085 shares in the company, valued at approximately $88,775,860.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Dev Ittycheria sold 50,000 shares of the stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $407.07, for a total value of $20,353,500.00. Following the sale, the chief executive officer now owns 218,085 shares in the company, valued at $88,775,860.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Mark Porter sold 2,734 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $412.33, for a total transaction of $1,127,310.22. Following the transaction, the chief technology officer now owns 35,056 shares of the company’s stock, valued at $14,454,640.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 104,694 shares of company stock worth $41,820,161. Company insiders own 4.80% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on the company. Macquarie raised their price target on MongoDB from $434.00 to $456.00 in a research note on Friday, September 1st. William Blair reissued an “outperform” rating on shares of MongoDB in a research note on Friday, June 2nd. Needham & Company LLC raised their price target on shares of MongoDB from $430.00 to $445.00 and gave the stock a “buy” rating in a research note on Friday, September 1st. Argus upped their target price on shares of MongoDB from $435.00 to $484.00 and gave the stock a “buy” rating in a research note on Tuesday, September 5th. Finally, The Goldman Sachs Group lifted their price target on shares of MongoDB from $420.00 to $440.00 in a research note on Friday, June 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $418.08.
Get Our Latest Stock Analysis on MongoDB
MongoDB Trading Up 0.6 %
Shares of NASDAQ:MDB opened at $335.76 on Monday. The business’s 50-day moving average is $380.77 and its 200 day moving average is $321.41. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.48 and a quick ratio of 4.48. MongoDB, Inc. has a 1 year low of $135.15 and a 1 year high of $439.00. The firm has a market capitalization of $23.95 billion, a P/E ratio of -97.04 and a beta of 1.11.
MongoDB (NASDAQ:MDB – Get Free Report) last posted its quarterly earnings data on Thursday, August 31st. The company reported ($0.63) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.70) by $0.07. The firm had revenue of $423.79 million for the quarter, compared to the consensus estimate of $389.93 million. MongoDB had a negative net margin of 16.21% and a negative return on equity of 29.69%. On average, research analysts predict that MongoDB, Inc. will post -2.17 earnings per share for the current fiscal year.
MongoDB Profile
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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Amazon DocumentDB (with MongoDB compatibility) supports in-place major version upgrade
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Amazon DocumentDB (with MongoDB compatibility) supports in-place major version upgrade.
Amazon DocumentDB (with MongoDB compatibility) now supports an in-place major version upgrade (MVU) from Amazon DocumentDB versions 3.6 and 4.0 to version 5.0. Instead of backing up and restoring the database to the new version or relying on database migration tools, you can perform an in-place major version upgrade with a few clicks using the AWS console, the latest AWS Software Development Kit (SDK), or Command Line Interface (CLI). With in-place MVU, no new clusters are created in the process and you can continue using the existing cluster endpoints for your applications.
Amazon DocumentDB 5.0 offers compatibility with MongoDB 5.0 API and several enhancements over earlier Amazon DocumentDB versions including support for document compression, faster indexing with index build status, client-side Field Level Encryption (FLE), index scans with $elemMatch operator, and new aggregate operators. Visit Amazon DocumentDB 5.0 documentation for a full list of features.
To perform an in-place major version upgrade for Amazon DocumentDB 5.0, select the ‘Modify’ option on the AWS Management Console that corresponds with the cluster you want to upgrade, choose version 5.0 and the required parameter group, and proceed with your upgrade. You can choose to apply the upgrade immediately or during your next maintenance window. Your Amazon DocumentDB cluster will be unavailable during the upgrade. Please review in-place MVU documentation to learn more.
In-place MVU is available in all AWS Regions where Amazon DocumentDB 5.0 is available, except in AWS GovCloud (US) region. There are no additional costs to upgrade.
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DNB Asset Management AS grew its holdings in shares of MongoDB, Inc. (NASDAQ:MDB – Free Report) by 5.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 10,680 shares of the company’s stock after purchasing an additional 522 shares during the period. DNB Asset Management AS’s holdings in MongoDB were worth $4,389,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. abrdn plc lifted its holdings in shares of MongoDB by 79.7% during the first quarter. abrdn plc now owns 12,019 shares of the company’s stock valued at $2,802,000 after purchasing an additional 5,331 shares during the last quarter. Clarius Group LLC lifted its holdings in shares of MongoDB by 7.7% during the first quarter. Clarius Group LLC now owns 1,362 shares of the company’s stock valued at $318,000 after purchasing an additional 97 shares during the last quarter. Moody Lynn & Lieberson LLC bought a new stake in shares of MongoDB during the first quarter valued at approximately $7,433,000. Empower Advisory Group LLC bought a new stake in shares of MongoDB during the first quarter valued at approximately $7,302,000. Finally, Daiwa Securities Group Inc. increased its position in shares of MongoDB by 3.5% during the first quarter. Daiwa Securities Group Inc. now owns 5,461 shares of the company’s stock valued at $1,273,000 after acquiring an additional 186 shares in the last quarter. 88.89% of the stock is currently owned by hedge funds and other institutional investors.
MongoDB Stock Up 0.6 %
Shares of MDB stock opened at $335.76 on Monday. The stock has a market cap of $23.95 billion, a P/E ratio of -97.04 and a beta of 1.11. MongoDB, Inc. has a 52 week low of $135.15 and a 52 week high of $439.00. The company has a quick ratio of 4.48, a current ratio of 4.48 and a debt-to-equity ratio of 1.29. The company’s fifty day simple moving average is $380.77 and its two-hundred day simple moving average is $321.41.
MongoDB (NASDAQ:MDB – Get Free Report) last announced its quarterly earnings results on Thursday, August 31st. The company reported ($0.63) EPS for the quarter, topping the consensus estimate of ($0.70) by $0.07. The business had revenue of $423.79 million for the quarter, compared to analysts’ expectations of $389.93 million. MongoDB had a negative net margin of 16.21% and a negative return on equity of 29.69%. Analysts predict that MongoDB, Inc. will post -2.17 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on the stock. Robert W. Baird raised their price target on shares of MongoDB from $390.00 to $430.00 in a research report on Friday, June 23rd. Morgan Stanley raised their price target on shares of MongoDB from $440.00 to $480.00 and gave the company an “overweight” rating in a research report on Friday, September 1st. Capital One Financial began coverage on shares of MongoDB in a research report on Monday, June 26th. They set an “equal weight” rating and a $396.00 price target for the company. Oppenheimer lifted their target price on shares of MongoDB from $430.00 to $480.00 and gave the stock an “outperform” rating in a research report on Friday, September 1st. Finally, UBS Group lifted their target price on shares of MongoDB from $425.00 to $465.00 and gave the stock a “buy” rating in a research report on Friday, September 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat.com, MongoDB presently has an average rating of “Moderate Buy” and an average target price of $418.08.
Read Our Latest Stock Analysis on MongoDB
Insiders Place Their Bets
In other MongoDB news, CRO Cedric Pech sold 360 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $406.79, for a total value of $146,444.40. Following the sale, the executive now owns 37,156 shares in the company, valued at approximately $15,114,689.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CRO Cedric Pech sold 360 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $406.79, for a total transaction of $146,444.40. Following the sale, the executive now directly owns 37,156 shares in the company, valued at approximately $15,114,689.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Hope F. Cochran sold 2,174 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $361.31, for a total transaction of $785,487.94. Following the sale, the director now owns 9,722 shares in the company, valued at $3,512,655.82. The disclosure for this sale can be found here. Insiders have sold a total of 104,694 shares of company stock worth $41,820,161 in the last 90 days. 4.80% of the stock is currently owned by corporate insiders.
MongoDB Profile
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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MMS • RSS
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MongoDB‘s (MDB 0.64%) stock has rallied nearly 70% so far this year as the software company impressed investors with its robust growth in a tough macro environment. But even after that run, it remains about 40% below its all-time high set in November 2021.
Should investors still buy MongoDB today, or will it run out of steam again before it revisits its record highs? Let’s review its business model, growth rates, and valuation to decide.
Image source: Getty Images.
What does MongoDB do?
MongoDB’s namesake product is a database management system that allows organizations to store large amounts of unstructured data more efficiently. Doing so makes it easier for a company to scale up its operations.
MongoDB serves a wide range of small to medium-sized businesses, as well as large enterprise customers across the tech, finance, retail, and healthcare sectors. Its cloud-based service, MongoDB Atlas, locks in those customers with sticky subscriptions. It can be easily integrated into leading cloud infrastructure platforms like Amazon Web Services (AWS), Microsoft Azure, and Alphabet‘s Google Cloud Platform (GCP) — but all three of those platforms also provide their own competing first-party database services.
MongoDB generated 96% of its revenue from subscriptions in the first half of fiscal 2024 (which started this February), while its services provided the remaining 4%. MongoDB Atlas accounted for 63% of its top line in the second quarter.
How fast is MongoDB growing?
MongoDB went public in October 2017. Between fiscal 2018 and fiscal 2023, its revenue increased at a compound annual growth rate (CAGR) of 53%, its adjusted gross margin expanded from 73% to 75%, and its adjusted operating margin improved from negative 49% to positive 5%.
Like many other software companies, MongoDB experienced a slowdown over the past year as macro headwinds drove many companies to scrutinize their spending. Yet its adjusted gross and operating margins continued to expand, and its revenue growth actually accelerated again in the second quarter of fiscal 2024.
|
Metric |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
|---|---|---|---|---|---|
|
Revenue growth (YOY) |
53% |
47% |
36% |
29% |
40% |
|
Adjusted gross margin |
73% |
74% |
78% |
76% |
78% |
|
Adjusted operating margin |
(4%) |
6% |
10% |
(12%) |
19% |
Data source: MongoDB. YOY = year over year.
It attributed that acceleration to higher-than-expected consumption rates on MongoDB Atlas, which offset its slower growth in non-Atlas revenue. Its gross margin was boosted by a temporary influx of higher-margin licensing revenue, while its improving economies of scale, slower hiring, and other cost-cutting measures boosted its operating margin.
Does MongoDB’s stock still have room to run?
For the full year, MongoDB expects its revenue to rise 24%-25%, which would represent a significant slowdown from its 47% growth in fiscal 2023. However, it sees its adjusted operating margin more than doubling to a midpoint of positive 12%, and it projects adjusted earnings per share (EPS) will surge 180%-190%.
Looking further ahead, MongoDB expects the ongoing expansion of Atlas into the automotive and manufacturing industries to drive its long-term growth. It also believes the burgeoning artificial intelligence (AI) market will generate tailwinds for its business as its clients accumulate more data for AI services.
But MongoDB still isn’t profitable on a generally accepted accounting principles (GAAP) basis, mainly due to the stock-based compensation expenses that consumed 27% of its revenue in the first half of fiscal 2024. It also has a high debt-to-equity ratio of 2.0. That red ink and high leverage could limit its near-term gains as long as interest rates stay high.
Finally, MongoDB’s stock isn’t cheap at 185 times forward earnings and 15 times this year’s sales. By comparison, the cloud-based customer relationship management (CRM) and marketing software provider HubSpot — which is expected to generate 23% revenue growth and 90% earnings growth this year — trades at 75 times forward earnings and 11 times this year’s sales.
Is it too late to buy MongoDB’s stock?
MongoDB was undervalued relative to its growth at the beginning of the year, but I believe it’s now fairly valued. It’s not too late to buy MongoDB’s stock as a long-term investment, but I’d only nibble at these frothy levels.
Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Leo Sun has positions in Alphabet and Amazon.com. The Motley Fool recommends Alphabet, Amazon.com, HubSpot, Microsoft, and MongoDB. The Motley Fool has a disclosure policy.
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DNB Asset Management AS Has $4.39 Million Stock Holdings in MongoDB, Inc. (NASDAQ:MDB)
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DNB Asset Management AS grew its position in MongoDB, Inc. (NASDAQ:MDB – Free Report) by 5.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,680 shares of the company’s stock after purchasing an additional 522 shares during the period. DNB Asset Management AS’s holdings in MongoDB were worth $4,389,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. Moody National Bank Trust Division raised its holdings in MongoDB by 2.9% in the second quarter. Moody National Bank Trust Division now owns 1,346 shares of the company’s stock worth $553,000 after purchasing an additional 38 shares during the period. Nordea Investment Management AB raised its holdings in shares of MongoDB by 4.9% during the second quarter. Nordea Investment Management AB now owns 4,377 shares of the company’s stock worth $1,815,000 after acquiring an additional 203 shares during the period. Fulton Bank N.A. raised its holdings in shares of MongoDB by 7.8% during the second quarter. Fulton Bank N.A. now owns 1,183 shares of the company’s stock worth $486,000 after acquiring an additional 86 shares during the period. Empower Advisory Group LLC acquired a new stake in shares of MongoDB during the first quarter worth $7,302,000. Finally, Toroso Investments LLC raised its holdings in shares of MongoDB by 5.4% during the first quarter. Toroso Investments LLC now owns 2,827 shares of the company’s stock worth $659,000 after acquiring an additional 144 shares during the period. 88.89% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities research analysts recently commented on the stock. Barclays raised their price objective on shares of MongoDB from $421.00 to $450.00 and gave the stock an “overweight” rating in a report on Friday, September 1st. William Blair restated an “outperform” rating on shares of MongoDB in a report on Friday, June 2nd. Tigress Financial lifted their price target on shares of MongoDB from $365.00 to $490.00 in a research note on Wednesday, June 28th. Canaccord Genuity Group lifted their price target on shares of MongoDB from $410.00 to $450.00 and gave the company a “buy” rating in a research note on Tuesday, September 5th. Finally, Sanford C. Bernstein lifted their price target on shares of MongoDB from $424.00 to $471.00 in a research note on Sunday, September 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $418.08.
Read Our Latest Research Report on MDB
Insider Buying and Selling at MongoDB
In other MongoDB news, CEO Dev Ittycheria sold 50,000 shares of the business’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $407.07, for a total value of $20,353,500.00. Following the completion of the sale, the chief executive officer now owns 218,085 shares of the company’s stock, valued at approximately $88,775,860.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Hope F. Cochran sold 2,174 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $361.31, for a total value of $785,487.94. Following the completion of the transaction, the director now directly owns 9,722 shares in the company, valued at approximately $3,512,655.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Dev Ittycheria sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $407.07, for a total transaction of $20,353,500.00. Following the transaction, the chief executive officer now owns 218,085 shares of the company’s stock, valued at $88,775,860.95. The disclosure for this sale can be found here. Insiders sold 104,694 shares of company stock valued at $41,820,161 in the last quarter. Company insiders own 4.80% of the company’s stock.
MongoDB Stock Performance
Shares of MDB stock opened at $335.76 on Monday. The company has a market capitalization of $23.95 billion, a price-to-earnings ratio of -97.04 and a beta of 1.11. The company has a debt-to-equity ratio of 1.29, a quick ratio of 4.48 and a current ratio of 4.48. The company has a 50-day simple moving average of $380.77 and a 200 day simple moving average of $321.41. MongoDB, Inc. has a 52 week low of $135.15 and a 52 week high of $439.00.
MongoDB (NASDAQ:MDB – Get Free Report) last announced its earnings results on Thursday, August 31st. The company reported ($0.63) EPS for the quarter, topping the consensus estimate of ($0.70) by $0.07. The business had revenue of $423.79 million during the quarter, compared to the consensus estimate of $389.93 million. MongoDB had a negative net margin of 16.21% and a negative return on equity of 29.69%. On average, sell-side analysts predict that MongoDB, Inc. will post -2.17 earnings per share for the current year.
MongoDB Company Profile
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.
See Also
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Article originally posted on mongodb google news. Visit mongodb google news
MMS • Johan Janssen
Article originally posted on InfoQ. Visit InfoQ
AtomicJar has introduced the freely available Testcontainers Desktop, a new application that supports Testcontainers, an open source framework which allows the use of real dependencies in unit tests. Testcontainers Desktop supports several features that aren’t available in the Testcontainers framework and offers better support for investigations and debugging with fixed ports for containers and the option to freeze and reuse containers. Lastly the application supports switching easily between container runtimes.
In November 2021, AtomicJar launched a new product, Testcontainers Cloud, in public beta which allowe teams to run containers on a range of different environments and configurations. It required a desktop application, which resulted in Testcontainers Cloud Desktop. Now the TestContainers Cloud Desktop tool is donated to the community as the free Testcontainers Desktop application.
Testcontainers Desktop allows setting fixed ports instead of the default random ports used by Testcontainers. Containers with fixed ports are easier when debugging from, for example, IntelliJ. Freeze containers prevents the shutdown of a container and makes the test run forever. This makes it easier to investigate and debug. The freeze button may be unchecked after the analyses, to resume the test execution and default cleanup logic of Testcontainers. The application also allows switching the container runtime and supports solutions such as OrbStack, Colima, Rancher Desktop and Podman.
The Testcontainers framework makes it possible to write tests with JUnit that use databases, message brokers and any other service in a Docker container.
First the testcontainers BOM should be configured in the pom.xml:
org.testcontainers
testcontainers-bom
1.19.0
pom
import
After that, the dependencies may be used without specifying the version, for example for MySQL:
org.testcontainers
mysql
test
Alternatively, Gradle may be used to manage the dependencies:
implementation platform('org.testcontainers:testcontainers-bom:1.19.0') testImplementation('org.testcontainers:mysql')
Now the Docker container may be injected into JUnit tests. For example by injecting the MySQL container with the defaults value test for the database, username and password:
@Container
private static final MySQLContainer mySQLContainer = new MySQLContainer("mysql:8.1.0");
Alternatively, the default values may be overwritten with custom values:
@Container
private static final MySQLContainer mySQLContainer = new MySQLContainer("mysql:8.1.0")
.withDatabaseName("myDatabase")
.withUsername("myUsername")
.withPassword("myPassword");
Testcontainers provide various modules which facilitate the integration of those Docker containers. Alternatively, any Docker container may be used by using the GenericContainer class:
@Container
private static final GenericContainer myContainer = new GenericContainer("redis:7.2.1")
.withExposedPorts(42);
Finally, the container may be used inside the unit test to create a connection to the service and execute the unit test logic.
The documentation provides more information about Testcontainers for Java.
AtomicJar released a short demo video introducing Testcontainers Desktop. Testcontainers Desktop binaries are available for installation on Mac, Windows and Linux operating systems.
The Simple local development with Testcontainers Desktop guide provides more information. Next to that, Oleg Selajev, lead developer advocate at AtomicJar and Sergei Egorov, co-founder and CEO at AtomicJar, discussed and demonstrated Testcontainers Desktop on YouTube.
MMS • RSS
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Cornerstone Wealth Management LLC bought a new stake in MongoDB, Inc. (NASDAQ:MDB – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 706 shares of the company’s stock, valued at approximately $290,000.
Several other hedge funds also recently modified their holdings of MDB. Bessemer Group Inc. bought a new position in MongoDB during the 4th quarter worth approximately $29,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in MongoDB during the 4th quarter worth approximately $30,000. Global Retirement Partners LLC boosted its stake in MongoDB by 346.7% during the 1st quarter. Global Retirement Partners LLC now owns 134 shares of the company’s stock worth $30,000 after acquiring an additional 104 shares during the last quarter. Manchester Capital Management LLC bought a new position in MongoDB during the 1st quarter worth approximately $36,000. Finally, Clearstead Advisors LLC bought a new position in MongoDB during the 1st quarter worth approximately $36,000. Institutional investors own 88.89% of the company’s stock.
Insiders Place Their Bets
In other MongoDB news, Director Dwight A. Merriman sold 4,000 shares of MongoDB stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $407.11, for a total transaction of $1,628,440.00. Following the completion of the transaction, the director now directly owns 1,214,765 shares of the company’s stock, valued at $494,542,979.15. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Dwight A. Merriman sold 4,000 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $407.11, for a total value of $1,628,440.00. Following the completion of the sale, the director now owns 1,214,765 shares of the company’s stock, valued at $494,542,979.15. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Dwight A. Merriman sold 1,000 shares of the business’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $420.00, for a total transaction of $420,000.00. Following the completion of the sale, the director now directly owns 1,213,159 shares of the company’s stock, valued at approximately $509,526,780. The disclosure for this sale can be found here. Insiders sold a total of 104,694 shares of company stock valued at $41,820,161 over the last ninety days. 4.80% of the stock is currently owned by company insiders.
MongoDB Price Performance
Shares of MDB opened at $335.76 on Monday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 4.48 and a current ratio of 4.48. The company’s fifty day simple moving average is $380.77 and its 200 day simple moving average is $321.41. MongoDB, Inc. has a 1-year low of $135.15 and a 1-year high of $439.00.
MongoDB (NASDAQ:MDB – Get Free Report) last released its quarterly earnings data on Thursday, August 31st. The company reported ($0.63) EPS for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.07. MongoDB had a negative net margin of 16.21% and a negative return on equity of 29.69%. The firm had revenue of $423.79 million during the quarter, compared to analysts’ expectations of $389.93 million. As a group, analysts expect that MongoDB, Inc. will post -2.17 EPS for the current fiscal year.
Wall Street Analyst Weigh In
MDB has been the topic of several research analyst reports. Capital One Financial initiated coverage on shares of MongoDB in a report on Monday, June 26th. They set an “equal weight” rating and a $396.00 target price on the stock. Oppenheimer raised their target price on shares of MongoDB from $430.00 to $480.00 and gave the stock an “outperform” rating in a report on Friday, September 1st. Robert W. Baird raised their target price on shares of MongoDB from $390.00 to $430.00 in a report on Friday, June 23rd. Truist Financial raised their target price on shares of MongoDB from $420.00 to $430.00 and gave the stock a “buy” rating in a report on Friday, September 1st. Finally, Morgan Stanley raised their target price on shares of MongoDB from $440.00 to $480.00 and gave the stock an “overweight” rating in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $418.08.
Check Out Our Latest Stock Report on MongoDB
MongoDB Profile
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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Article originally posted on mongodb google news. Visit mongodb google news
MMS • Nsikan Essien
Article originally posted on InfoQ. Visit InfoQ
AWS announced the general availability of the Rust procedural language handler, PL/Rust, for Amazon Relational Database Service (RDS) instances running versions 13 and 14 of PostgreSQL. This builds on the previous release in May 2023 that enabled the functionality only for instances running PostgreSQL version 15.
Amazon RDS is a managed database service provided by Amazon Web Services. It includes support for popular database engines such as MariaDB, MySQL, Microsoft SQL Server, Oracle and PostgreSQL.
PostgreSQL is an open source relational database system developed in C. It includes a system for the creation of user defined functions in languages other than SQL and C as Procedural Languages (PLs). The execution of a PL requires a handler able to interpret, and in some cases execute, its source text. A PL is normally referred to by the language its handler enables, prefixed with a ‘PL/’. The core PostgreSQL distribution includes four PLs as standard: PL/pgsql, PL/TCL, PL/Perl and PL/Python. PL/Rust is a new non-core handler within the PostgreSQL extension ecosystem.
With its first production release in April 2023, PL/Rust was created to provide comparable performance to PostgreSQL functions written in C. With the handler, PostgreSQL functions defined in Rust are compiled to native machine code and benefit from Rust’s memory safety guarantees. An example function defined in Rust is shown below:
psql> CREATE FUNCTION add_two_numbers(a NUMERIC, b NUMERIC) RETURNS NUMERIC STRICT LANGUAGE plrust AS $$
Ok(Some(a + b))
$$;
psql> SELECT add_two_numbers(2, 2);
add_two_numbers
-----------------
4
Enabling the PL/Rust extension is done by adding ‘plrust’ to the ‘shared_preload_libraries’ parameter in the RDS DB parameter group and running a create extension command within the instance. PL/Rust executes within Amazon RDS as a trusted language, which denies function authors from using any Rust features that would access file system operations, external modules or PostgreSQL server processes via the operating system. While the PL/Rust guide includes instructions for installing the extension in an untrusted mode, Amazon RDS does not permit this.
A performance test of PL/Rust on a large sample of random vectors showed significant reductions in runtime. For the same dataset, PL/pgsql and PL/v8 had run times of 14 and 54 seconds while PL/Rust took 3 seconds.
A major limitation of PL/Rust in the Amazon RDS ecosystem is that it is currently not available for users of Amazon Aurora, the fully managed offering on top of Amazon RDS. In addition, users on Amazon RDS must be granted access to PL/Rust by a holder of the RDS Superuser privilege, despite it being a trusted language extension.
Finally PL/Rust is available in all AWS regions and further information on its use can be found on the Amazon RDS User Guide.