Month: December 2023

Posted on mongodb google news. Visit mongodb google news

In a recent cyberattack, the multi-chain trading platform Thunder Terminal fell victim to a hacker attack, revealing that a malicious actor exploited vulnerabilities to gain access to a MongoDB connection.

The breach, disclosed on December 27, highlighted the hacker’s successful acquisition of a MongoDB connection URL, which granted them access to session tokens and enabled unauthorized withdrawals on behalf of users.

Alarm bells are ringing loud! Here are all the details you must know.

Thunder Terminal in Action!

Thunder Terminal promptly responded to the security breach immediately. They took several steps to prevent further malicious withdrawals and future access to session tokens:

• Disconnected Previous URLs: All older connection points were deactivated.
• Revoked Session Tokens: Existing session tokens were invalidated.
• Enhanced Control: Thunder Terminal restricted access to connection URLs, ensuring they originated solely from their servers.

Thunder Terminal reassured its user base that private keys remained secure and desktop wallets were unharmed. However, a subset—less than 1%—of user wallets experienced unauthorized fund withdrawals, totaling a minimum of 114 affected wallets.

Read More: Crypto Hacking Losses Plunged by Nearly 50% in 2023; Here’s Why

Investigating the Breach

The precise source of the intrusion remains under investigation. Thunder Terminal hinted at a possible connection with a recent incident involving a New York-based MongoDB. This third-party provider had reported suspicious activities, later confirming a breach in their systems.

Blockchain analyst ZachXBT provided insights into the hacker’s activities. The illicit transactions led to Railgun, a privacy-focused protocol, where the hacker transferred 86.5 ETH (valued at $192,500) and 439 SOL (approximately $49,160).

Hacker Makes Demands

In a surprising turn, the hacker communicated via blockchain, accusing Thunder Terminal of deceit. They demanded a ransom of 50 ETH and threatened to disclose user data if not paid.

A (Harsh) Lesson for the Crypto Industry

Thunder Terminal’s experience underscores the importance of robust cybersecurity measures in the cryptocurrency ecosystem. The reliance on third-party services, while beneficial for data accumulation, introduces vulnerabilities. As the industry evolves, platforms must prioritize security, continuously enhancing defenses against sophisticated cyber threats.

Also Read: Top Crypto Hacks of 2023: Analyzing the Biggest Crypto Security Breaches – Research Report

Article originally posted on mongodb google news. Visit mongodb google news

Posted on mongodb google news. Visit mongodb google news

Thunder Terminal lost around $244,000 worth of crypto as hackers accessed a MongoDB connection URL. The decentralized exchange has promised users that the funds will be refunded. However, the hackers are demanding additional ransom.

Hackers are proactively looking for loopholes in crypto projects to exploit the funds. Projects with significant total value locked (TVL) can risk losing the funds due to the slightest technical mistake.

Hackers Claim That Thunder Terminal is Lying

In the first instance, Thunder Terminal declared that the hack had occurred because a third-party service that they were using was compromised. It also claimed that the funds were safe.

Later, Thunder Terminal wrote a detailed incident report clarifying that they had stopped the hack in less than nine minutes. It explained:

“A malicious actor got access to a MongoDB connection URL which they used to pull session tokens and execute withdrawals on behalf of users.

The MongoDB company was exploited 8-days ago and both data and customer account details were leaked as a result.”

MongoDB is a database service.

The Thunder Terminal team shared that the hackers stole around 86.56 Ethereum (ETH) and 439.12 Solana (SOL). As of writing, the approximate market value of these assets is around $244,000. The team also assured a refund. 

Sponsored
.divm, .divd {display: none;}
@media screen and (max-width: 768px) {.divm {display: block;}}@media screen and (min-width: 769px) {
.divd {display: block;}}

Sponsored

On the flip side, the hackers claim that the Thunder Terminal team is lying. Through an on-chain message, the hackers demanded a ransom of 50 ETH and wrote:

“All lies. Also we have all the user data. 50 ETH and we will delete the data.”

On Tuesday, BeInCrypto reported that the Decentralized Finance (DeFi) project Telcoin lost around $1.3 million to hackers. In 2023, the bad actors have stolen more than $1.7 billion.

However, global law enforcement agencies are ramping up efforts to tackle crypto crimes. They are being trained with the necessary tools for the succesful investigation of on-chain crimes.

Sponsored
#moneymade1{width:100%}

Sponsored

Do you have anything to say about Thunder Terminal hackers or anything else? Write to us or join the discussion on our Telegram channel. You can also catch us on TikTok, Facebook, or X (Twitter).

For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

Harsh started investing in crypto during the 2021 bull market. He took the opportunity of the market crash in May to learn more about Bitcoin and blockchain technology. Since then, he has helped metaverse projects build an engaging community and educate them on Web3.
He has also helped Web3 creators write educational blogs around crypto.

Harsh started investing in crypto during the 2021 bull market. He took the opportunity of the market crash in May to learn more about Bitcoin and blockchain technology. Since then, he has helped metaverse projects build an engaging community and educate them on Web3.
He has also helped Web3 creators write educational blogs around crypto.

READ FULL BIO

Sponsored

Sponsored

RELATED NEWS

38 mins ago

38 mins ago

46 mins ago

1 hour ago

1 hour ago

Article originally posted on mongodb google news. Visit mongodb google news

Posted on mongodb google news. Visit mongodb google news

On-chain trading platform Thunder Terminal recently faced a significant security incident, acknowledging a third-party compromise that resulted in a $240,000 exploit affecting 114 wallets. Despite Thunder’s assurance that user funds are now secure, the hacker responsible disputes the claim, asserting that it’s “all lies” and demanding an additional ransom for user data.

In the incident report released on December 27, Thunder Terminal disclosed that the exploit led to losses totaling 86.5 Ether and 439 Solana, transpiring over a brief nine-minute period. The attacker gained unauthorized access through a compromised “MongoDB connection URL,” exploiting a breach in Thunder’s data that occurred eight days prior when MongoDB was targeted.

Thunder Terminal emphasized that only 114 out of its 14,000 wallets were compromised, pledging full refunds to affected users along with 0% fees and $100,000 in platform credits. The platform asserted that private keys or wallets had not been compromised.

Contrary to Thunder’s reassurances, the attacker left a memo on Etherscan challenging the platform’s claims, calling them “all lies” and demanding a 50 ETH ($110,000) ransom for the allegedly affected data, stating, “We have all the user data. 50 ETH and we will delete the data.”

While Thunder expressed commitment to reinforcing security measures and being open to negotiations for the return of stolen funds, it did not directly address the hacker’s ultimatum. Thunder clarified that it lacks access to users’ private keys, refuting the possibility of the exploiter gaining such access.

Etherscan data revealed the hackers’ wallet address sending 86.3 ETH to the Railgun protocol, a service facilitating transaction anonymization. Thunder Terminal, launched in late 2022 by Eversify Labs, specializes in rapid trades across multiple blockchain networks, including Ethereum, Solana, Avalanche, and Arbitrum.

Article originally posted on mongodb google news. Visit mongodb google news

Article originally posted on InfoQ. Visit InfoQ

LinkedIn announced that it would be moving to gRPC with Protocol Buffers for the inter-service communication in its microservices platform, where previously an open-source Rest.li framework was used with JSON as a primary serialization format.

InfoQ spoke with Karthik Ramgopal, distinguished engineer at LinkedIn, and Min Chen, principal staff engineer at LinkedIn, to learn more about the decision and company motivations behind it.

InfoQ: What were the main reasons for choosing gRPC and Protocol Buffers over REST with JSON?

Karthik Ramgopal/Min Chen: We chose gRPC to replace the current REST framework Rest.li for the following reasons:

• Superior capabilities – gRPC is a highly capable framework we explain in detail with support for advanced features like bidirectional streaming, flow control, and deadlines, which Rest.ii does not support.
• Efficiency – gRPC is also a highly efficient framework with performance baked in its implementation, such as fully async non-blocking bindings and advanced threading models. We have also validated this via synthetic benchmarks as well as production ramps of gRPC and Rest.li services running side by side.
• Multi-language support – Rest.li is primarily implemented in Java, with patchy or non-existent support for other programming languages. gRPC has high-quality support for several programming languages, which was important when considering LinkedIn’s infra-support requirements.

Beyond all these, gRPC has the support of a large and vibrant OSS community and wide usage across the industry. Rest.li while open source is contributed to and used primarily by LinkedIn.

InfoQ: You previously adopted Protocol Buffers as a serialization format in the Rest.li framework. What have you learned from this experience, and what other serialization formats have you evaluated?

Karthik Ramgopal: While we do go in-depth in our blog post, the primary learning was that there are massive latency and throughput wins to be had at scale by switching from JSON to Protobuf. In addition to Protobuf, we evaluated CBOR, MessagePack, SMILE, Avro, Kryo, Flatbuffers, and Cap’n’Proto. We ultimately picked Protobuf since it offered the best trade-off between runtime performance (latency, payload size, throughput), developer experience (IDE authoring, schema validation, annotation support, etc.), and multi-language/environment support.

InfoQ: On the Rest.li GitHub page, you announced that the framework will no longer be developed and will be deprecated. What advice would you give to the current users of the framework?

Karthik Ramgopal/Min Chen: Consider moving off Rest.li to gRPC. Please contact us via LinkedIn if you want some pointers to speed up the migration via automation.

InfoQ: In the blog post, you stated you observed up to 60% latency improvement for some of the services. Can you provide further details about this?

Karthik Ramgopal: Most of the latency improvement comes from a smaller payload size and less CPU time spent in serialization/deserialization. The 60% number was for services with very large and complex payloads where these costs were the predominant contributors to latency. We also saw significant improvements to tail latency (p95/p99) in many services on account of a substantial reduction in GC when using Protobuf.

InfoQ: You also mentioned there were over 50,000 Rest.li endpoints currently in production at LinkedIn. This is an impressive number, so can you explain why there are so many?

Karthik Ramgopal: As one of the largest professional networks, we have a complex “economic graph” of entities. Included in this, our enterprise businesses (Recruiter, LinkedIn Learning, Sales Navigator etc.) which have their own entities. Additionally, we also have our internal applications, tooling systems, etc. Further, we typically use a 3-tier architecture with BFFs (Backend For Frontends), midtiers, and backends. We encourage CRUD-based modeling with normalized entities for standardized modeling and ease of discoveryFor the past 10 years, all of these use cases have been modeled using Rest.li, which accounts for the high number of endpoints.

InfoQ: What was the main goal/reason for the gRPC+Protobuf adoption project? Is LinkedIn working or planning to work on other initiatives supporting similar goals?

Karthik Ramgopal/Min Chen: The reasons for adoption are consistent with why we picked gRPC+Protobuf over REST+JSON.

We are working on migrating all our stateful storage and streaming systems to Protobuf from Avro. We are also moving some common infrastructure functionality (AuthZ, call tracing, logging, etc.) from Java libraries into sidecars, exposing a gRPC over UDS API to reduce the cost of multiple programming language support. We are also revamping our bespoke in-house service discovery and load balancer to adopt industrial standard xDS protocol to work with both gRPC xDS SDK, and the Envoy sidecar.

Posted on mongodb google news. Visit mongodb google news

Multi-chain trading platform Thunder Terminal has suffered a hacker attack, saying a malicious actor gained access to a MongoDB connection.

In an X post on Dec. 27, Thunder Terminal acknowledged the breach, stating that the hacker gained access to a MongoDB connection URL.

This access allowed the intruder to retrieve session tokens and execute withdrawals on behalf of users.

The attack concluded at 12:20 AM UTC, Dec 27, after all session tokens and transaction signing access were revoked for security reasons, Thunder Terminal said.

While Thunder Terminal assured users that no private keys or wallets were compromised, the team admitted that “less than 1% of wallets” were affected. The attack reportedly resulted in funds being stolen from at least 114 wallets.

“The exploit happened through withdrawal requests our server considered as authorized because of leaked session tokens. We do not store any private keys, so the attacker does not have access to any wallets. Desktop wallets were not affected.”

Thunder Terminal

As of press time, it is unclear, how exactly the hacker got access to the project’s database. Thunder Terminal suggests that the hack may be related to an incident involving New York-based MongoDB. In mid-December, MongoDB detected “suspicious activity” on its network, later confirming that hackers had infiltrated its systems “for some period of time before discovery.”

According to blockchain sleuth ZachXBT, the attack transferred 86.5 ETH (worth around $192,500) to Railgun, a privacy-aimed protocol that enables users to anonymously swap cryptocurrencies and make private transactions. The project also revealed that the hacker stole over 439 SOL (around $49,160).

Initially, Thunder Terminal said the attack was related to a compromise of its third-party provider. The team also said “funds are safe,” adding that “refunds will be handled shortly.”

However, shortly after this post, the hacker issued a blockchain-based statement, accusing the Thunder Team of lying and threatening to disclose all user data unless the project pays them 50 ETH in ransom.

Launched in late 2022, Thunder Terminal is a multi-chain trading platform with support for Ethereum, Solana, Avalanche, and other networks.

Follow Us on Google News

Article originally posted on mongodb google news. Visit mongodb google news

Posted on mongodb google news. Visit mongodb google news

Article originally posted on mongodb google news. Visit mongodb google news

Posted on mongodb google news. Visit mongodb google news

On-chain trading platform Thunder Terminal suffered an exploit resulting in at least $100,000 worth of stolen Ethereum and Solana. The breach enabled bad actors to hijack user session tokens and initiate unauthorized withdrawals.

• Hackers access Thunder MongoDB and steal session tokens.
• Fake ETH and SOL withdrawals initiated; $100K+ lost.
• Promises refunds, 2FA, and legal action against perpetrators.
• The team believes the hack is linked to the recent MongoDB provider compromise.

Based on a Twitter incident report, the first illicit transfers happened around midnight UTC Thursday morning around 12:11:47 AM. Following the incident, Thunder revoked all session tokens and transaction signing abilities to halt further hemorrhaging.

Read more: TEL Token Dips 30% Following $1.3M Exploit; Telcoin Commits To Wallet Restoration

Over 86 ETH and 439 SOL were confirmed drained, though the losses only impacted less than 1% of platform wallets not utilizing cold storage security. No private keys or other user data were accessed in the attack, according to the report.

Thunder ruled out Inside Job 

Thunder pinned the exploit vector on a recent security breach at MongoDB, a database provider it relies on for authentication services. Hackers leaked MongoDB credentials eight days ago in a separate server infiltration, enabling access to Thunder’s systems.

An internal compromise was ruled out. The speedy response and transparency proved wise as news spread rapidly on crypto channels. On-chain sleuth ZachXBT highlighted the suspicious activity on his Telegram channel while the attack played out.

Read more: Tim Draper Predicts When Bitcoin Will Hit $250,000

In response, Thunder said it revoked all legacy tokens and connection URLs while restricting future database access solely from its servers. User funds will be restored in full, accompanied by trading fee waivers and account credits.

Plans are already underway to bolster security moving forward, including:

• Mandatory 2FA for withdrawals
• Legal pursuit of the hackers with authorities
• Technical audits across infrastructure

The exploiter referred to Thunder’s X posts as “all lies,” as highlighted in an on-chain note by ZachXBT. The address associated with the attacker claimed to possess all user data and suggested that the data could be deleted for a payment of 50 ETH.

Article originally posted on mongodb google news. Visit mongodb google news

Posted on mongodb google news. Visit mongodb google news

Developing scalable web applications for various industries using various technologies is possible using any number of approaches, and as market demands change, so does the technology spectrum.

– Advertising –

A scalable and flexible custom web app development process is necessary for a continually shifting business landscape – what better solution exists than MERN stack development services or MEAN stack development services? Compare Development Services Based on Your Requirements and Scope

Business owners may find selecting the appropriate technology for their web app development project challenging, particularly if they lack tech stack experience. Consult the best web app development company,hire MERN Stack Developers,  or accelerate it based on launch preferences to help navigate this decision-making process more smoothly.

Web development frameworks are constantly adapting to meet user and business demands. The MERN stack is an efficient technology stack that combines MongoDB, Express.js, and React.js as an all-inclusive solution for building robust, scalable web apps that offer unparalleled efficiency.

In this article, we’ll look at this promising solution and its many advantages.

Mongodb, A Document-Oriented

NoSQL data store forms the cornerstone of the MERN stack. Its flexible schema lets developers quickly store, retrieve, and manipulate JSON documents.

MongoDB offers high scalability and performance characteristics, making it a popular choice for large data volumes. In contrast, its high reliability integrates easily with MERN.

Ex.js: An Extremely Flexible Backend Framework

Express.js is a minimalistic web framework that simplifies building reliable and scalable server-side apps, offering features and middleware to simplify creating APIs, routing requests, and managing them more efficiently.

– Advertising –

Express also makes creating server-side components seamless integrations with MERN stack layers such as front-end or database components easier for developers.

React.Js Is An Open-Source Front-End Framework

React.js is a JavaScript library created by Facebook, widely renowned for creating interactive user interfaces. React.js allows front-end developers to build modular interfaces by creating reusable UI elements; its virtual DOM and efficient rendering capabilities ensure complex data-driven applications run optimally; its component-based architecture encourages code reuse for quicker project development teams.

Node.Js Is An Event-Driven Runtime Environment

Node.js is a JavaScript-based runtime environment that enables developers to run code outside of browsers on servers, providing high performance and scalability for server-side processing of code. Node’s event-driven architecture and non-blocking I/O operations offer high scalability and performance while making Node an ideal choice candidate for creating end-to-end applications thanks to the seamless integration of client and server-side code into a single language.

Benefits of MERN Stack Development Services

• Full-Stack JavaScript: One of the primary advantages of MERN is its use of Full-Stack JavaScript, as it eliminates switching between languages, streamlining development workflow and increasing productivity.
• Rapid Development: React.js is known for its modularity and reusability; when combined with Express.js, it allows for swift development. MERN stack developers can rapidly develop feature-rich web apps with reduced time-to-market.
• JavaScript: Powers both the front-end and back-end of the MERN stack, enabling developers to seamlessly share code between clients and servers – thus eliminating duplication, increasing maintainability, and speeding up iterations throughout development cycles.
• Scalability and Performance: Applications built using the MERN stack are inherently scalable due to Node.js’ non-blocking capabilities and MongoDB’s horizontal scaling abilities; as a result, applications built on this stack can handle increased user load without impacting performance negatively.
• Supporting Community: The MERN stack is supported by an active developer community, offering open-source frameworks, libraries, and resources to promote collaboration, knowledge sharing, and continuous improvement.

What is the MERN Stack?

A stack amalgamates multiple technologies, such as programming languages, frameworks, libraries, and tools, to develop web and mobile apps. MERN stands for MongoDB Express.js, React.js, and Node.js; its construction represents a process.

• MongoDB: A document-oriented NoSQL (non-structured SQL) database that can offer flexibility to web applications and maximum scalability.
• Express.js is a node.js framework with flexible yet minimal capabilities designed for web and mobile apps. It offers robust features to build RESTful APIs and backends that are reasonably complex websites and mobile applications. Web developers use Express to develop backends, websites with reasonable complexity, and mobile apps using it as a backend.
• React.js: It is an open-source library created in JavaScript designed to create beautiful user interfaces through components. With React, apps run faster, perform better, and significantly reduce development time – all while being beautiful. This fantastic tool can make all your designs interactive.
• Node.js is an open-source server-side environment for developing real-time, fast, scalable networking applications. Node.js can open, read, and write files while opening new ones and closing old ones on its server backend, making web app development services quicker and loading them quicker than any other web development cost framework available today.

Why use MERN Stack When Developing Web Apps?

Benefits of 3-tier Architecture

MERN Stack allows web developers to use its three-tier architecture platform for building web apps that utilize front-end components, backend components, and database elements – creating the perfect combination of powerful technologies like JavaScript, JSON, and others to form this structure.

MERN Stack allows web developers to design 3-tier architectures for web apps that feature front-end components, backend components, and document database elements. Combining JavaScript, JSON, and other powerful technologies is perfect for success.

Front-end (React.js)

React.js is an open-source JavaScript Framework to develop HTML applications with rich user interfaces. React makes complex interfaces accessible through simple components in its library that connect backend servers.

Backend (Express.js & Node.js)

Express.js is designed to work seamlessly with Node.js Servers, using modules that efficiently match incoming URLs with server functions to manage HTTP requests and responses more efficiently.MERN developers often utilize Express.js functions by sending HTTP XML requests or receiving React POSTs from React.js apps. Express.js also utilizes Node’s MongoDB drives through callback calls to access and update information stored within MongoDB databases more quickly and efficiently than Node directly.

Database (MongoDB)

When React.js, Express.js, and Node.js come together, they need an easily manageable and flexible database solution. MongoDB offers the perfect way to store and manage customer, order, inventory, and event information efficiently and reliably.

Express.js handles processing JSON documents created by React before being stored in MongoDB for safekeeping.

Woot. MERN is a Source

With MERN being open-sourced, no license restrictions are limiting its technology stack. Thus, companies of any level or size can use this open-source software stack to build excellent software applications without licensing issues.

Many top software development speed firms utilize open-source MERN as it frees their coding remote teams from this legal hassle. MERN Stack is an open-source software stack offering developers exclusive content, tutorials, and updates.

Versatile Coding via Codesharing

React.js is an elegant JS library that gives the community of developers all the tools to develop front-end apps quickly and efficiently and can even leverage UI components within web apps. MERN developers can utilize React.js codes across browsers and servers, with codesharing being possible between each dedicated team member.

MERN Stack makes creating pages on the server much simpler for developers and saves them both time and effort – not to mention increased flexibility.

Full-Stack Development = Decreased Costs

MERN Stack is open-source and, therefore, more cost-effective than expected due to community support, an easier learning curve, and faster setup for web application development – meaning MERN developers won’t need to look further than JSON and JavaScript when creating web apps with MERN.

Hiring MERN Stack developers can be an excellent way to reduce overall costs when hiring for MERN Stack applications development project requirements, eliminating the need for multiple software engineers with expertise in different technologies. MERN Stack is also an excellent digital solution for developing business web apps.

When Should We Use MERN Stack?

Our comparison between MEAN and MERN may have provided you with enough insight. Here, let us list when MEN should be considered the superior technology stack option – here are a few scenarios where MERN could be beneficial.

• Rapid iterations are expected: Regardless of whether your business is an enterprise, SME, or startup, its ecosystem must be ready to test and launch products quickly. MERN provides web app testing and development services which enable companies to launch products faster.
• Deadlines Are of Utmost Importance: MERN offers an easy-to-use React.js front-end library that quickly allows developers to execute code while supporting an MVC architecture. Furthermore, its development followed industry standards – making MERN an excellent business choice.

Takeaways from the Final Session

MERN stack offers many advantages for web application development projects, depending on your business requirements and scope. Bytes Technolab’s web development experts are here to assist as needed.

Before designing their architecture, business owners should consult experts to understand the pros, cons, and future repercussions of selecting a specific technology stack.

MERN stack development services offer budget-conscious web app creators an excellent choice when seeking maximum performance and user interface rendering; react.js rendering speeds will ensure faster user experiences, while MEAN stack is often chosen for web applications with heavy loads to handle.

News From

Cyber Infrastructure INC
Category: Software Developers Profile: CIS Established in 2003, Cyber Infrastructure INC. or CIS is a leading IT and custom software development company in Central India. Since 2003, CIS has been providing highly optimized technology solutions and services for SMEs and large-scale enterprises across the world. CIS has worked with 5000+ clients in more than 100 countries. Their expertise and experience ranges across a wide range of industry domains like education, finance, travel and hospitality, retail and e-commerce, manufacturing, …

For more information:

Article originally posted on mongodb google news. Visit mongodb google news

Posted on mongodb google news. Visit mongodb google news

Cwm LLC lifted its position in shares of MongoDB, Inc. (NASDAQ:MDB – Free Report) by 8.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,591 shares of the company’s stock after buying an additional 196 shares during the quarter. Cwm LLC’s holdings in MongoDB were worth $896,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MDB. GPS Wealth Strategies Group LLC purchased a new stake in MongoDB during the 2nd quarter worth about $26,000. KB Financial Partners LLC purchased a new stake in MongoDB during the 2nd quarter worth about $27,000. Capital Advisors Ltd. LLC increased its position in MongoDB by 131.0% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 67 shares of the company’s stock worth $28,000 after purchasing an additional 38 shares in the last quarter. Bessemer Group Inc. purchased a new stake in MongoDB during the 4th quarter worth about $29,000. Finally, Parkside Financial Bank & Trust grew its holdings in MongoDB by 176.5% in the 2nd quarter. Parkside Financial Bank & Trust now owns 94 shares of the company’s stock valued at $39,000 after buying an additional 60 shares during the period. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on MDB. Bank of America began coverage on MongoDB in a report on Thursday, October 12th. They issued a “buy” rating and a $450.00 price target for the company. Argus lifted their price target on MongoDB from $435.00 to $484.00 and gave the company a “buy” rating in a report on Tuesday, September 5th. Truist Financial restated a “buy” rating and issued a $430.00 price target on shares of MongoDB in a report on Monday, November 13th. Tigress Financial lifted their price target on MongoDB from $490.00 to $495.00 and gave the company a “buy” rating in a report on Friday, October 6th. Finally, JMP Securities lifted their price target on MongoDB from $425.00 to $440.00 and gave the company a “market outperform” rating in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat, MongoDB currently has a consensus rating of “Moderate Buy” and a consensus target price of $432.44.

Check Out Our Latest Stock Report on MDB

MongoDB Stock Performance

Shares of MDB opened at $407.48 on Tuesday. The business’s 50 day moving average is $383.59 and its two-hundred day moving average is $379.88. MongoDB, Inc. has a 52-week low of $164.59 and a 52-week high of $442.84. The firm has a market cap of $29.41 billion, a price-to-earnings ratio of -154.35 and a beta of 1.19. The company has a quick ratio of 4.74, a current ratio of 4.74 and a debt-to-equity ratio of 1.18.

MongoDB (NASDAQ:MDB – Get Free Report) last announced its earnings results on Tuesday, December 5th. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.45. MongoDB had a negative return on equity of 20.64% and a negative net margin of 11.70%. The company had revenue of $432.94 million for the quarter, compared to analyst estimates of $406.33 million. During the same period in the prior year, the company posted ($1.23) EPS. MongoDB’s quarterly revenue was up 29.8% on a year-over-year basis. Analysts forecast that MongoDB, Inc. will post -1.64 EPS for the current fiscal year.

Insider Buying and Selling at MongoDB

In other MongoDB news, CRO Cedric Pech sold 308 shares of the company’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $326.27, for a total value of $100,491.16. Following the transaction, the executive now directly owns 34,110 shares of the company’s stock, valued at approximately $11,129,069.70. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CRO Cedric Pech sold 308 shares of the company’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $326.27, for a total transaction of $100,491.16. Following the sale, the executive now directly owns 34,110 shares of the company’s stock, valued at approximately $11,129,069.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Thomas Bull sold 518 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $342.41, for a total value of $177,368.38. Following the sale, the chief accounting officer now directly owns 16,672 shares in the company, valued at $5,708,659.52. The disclosure for this sale can be found here. Insiders have sold a total of 164,337 shares of company stock valued at $62,281,941 in the last three months. Corporate insiders own 4.80% of the company’s stock.

MongoDB Company Profile

(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.

See Also

Want to see what other hedge funds are holding MDB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MongoDB, Inc. (NASDAQ:MDB – Free Report).

Receive News & Ratings for MongoDB Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for MongoDB and related companies with MarketBeat.com’s FREE daily email newsletter.

Article originally posted on mongodb google news. Visit mongodb google news

Posted on mongodb google news. Visit mongodb google news

Deep-pocketed investors have adopted a bullish approach towards MongoDB MDB, and it’s something market players shouldn’t ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in MDB usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga’s options scanner highlighted 19 extraordinary options activities for MongoDB. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 57% leaning bullish and 42% bearish. Among these notable options, 9 are puts, totaling $924,485, and 10 are calls, amounting to $1,093,110.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $380.0 to $640.0 for MongoDB over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for MongoDB options trades today is 180.53 with a total volume of 473.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for MongoDB’s big money trades within a strike price range of $380.0 to $640.0 over the last 30 days.

MongoDB Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

About MongoDB

Founded in 2007, MongoDB is a document-oriented database with nearly 33,000 paying customers and well past 1.5 million free users. MongoDB provides both licenses as well as subscriptions as a service for its NoSQL database. MongoDB’s database is compatible with all major programming languages and is capable of being deployed for a variety of use cases.

Following our analysis of the options activities associated with MongoDB, we pivot to a closer look at the company’s own performance.

Present Market Standing of MongoDB

• With a trading volume of 418,397, the price of MDB is up by 1.02%, reaching $411.65.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 71 days from now.

What Analysts Are Saying About MongoDB

In the last month, 5 experts released ratings on this stock with an average target price of $464.6.

• Maintaining their stance, an analyst from Mizuho continues to hold a Neutral rating for MongoDB, targeting a price of $420.
• An analyst from Piper Sandler persists with their Overweight rating on MongoDB, maintaining a target price of $500.
• Maintaining their stance, an analyst from RBC Capital continues to hold a Outperform rating for MongoDB, targeting a price of $475.
• Reflecting concerns, an analyst from Stifel lowers its rating to Buy with a new price target of $450.
• An analyst from Barclays has decided to maintain their Overweight rating on MongoDB, which currently sits at a price target of $478.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for MongoDB with Benzinga Pro for real-time alerts.

Article originally posted on mongodb google news. Visit mongodb google news