Month: January 2024
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MongoDB, Inc. is a developer data platform company. Its developer data platform is an integrated set of databases and related services that allow development teams to address the growing variety of modern application requirements. Its core offerings are MongoDB Atlas and MongoDB Enterprise Advanced. MongoDB Atlas is its managed multi-cloud database-as-a-service offering that includes an integrated set of database and related services. MongoDB Atlas provides customers with a managed offering that includes automated provisioning and healing, comprehensive system monitoring, managed backup and restore, default security and other features. MongoDB Enterprise Advanced is its self-managed commercial offering for enterprise customers that can run in the cloud, on-premises or in a hybrid environment. It provides professional services to its customers, including consulting and training. It has over 40,800 customers spanning a range of industries in more than 100 countries around the world.
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MongoDB (NASDAQ:MDB – Get Free Report)‘s stock had its “neutral” rating reiterated by investment analysts at UBS Group in a report issued on Thursday, Benzinga reports. They presently have a $410.00 target price on the stock, down from their previous target price of $475.00. UBS Group’s price target would suggest a potential upside of 9.93% from the company’s previous close.
A number of other equities research analysts have also issued reports on MDB. Stifel Nicolaus restated a “buy” rating and set a $450.00 price target on shares of MongoDB in a report on Monday, December 4th. Scotiabank started coverage on shares of MongoDB in a report on Tuesday, October 10th. They set a “sector perform” rating and a $335.00 price target on the stock. Royal Bank of Canada boosted their price target on shares of MongoDB from $445.00 to $475.00 and gave the company an “outperform” rating in a report on Wednesday, December 6th. Tigress Financial boosted their price target on shares of MongoDB from $490.00 to $495.00 and gave the company a “buy” rating in a report on Friday, October 6th. Finally, Needham & Company LLC boosted their price objective on shares of MongoDB from $445.00 to $495.00 and gave the company a “buy” rating in a research report on Wednesday, December 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $430.41.
Read Our Latest Analysis on MDB
MongoDB Stock Down 2.8 %
NASDAQ MDB opened at $372.98 on Thursday. The company has a debt-to-equity ratio of 1.18, a current ratio of 4.74 and a quick ratio of 4.74. The company’s 50 day simple moving average is $391.07 and its 200 day simple moving average is $381.05. MongoDB has a 12 month low of $164.59 and a 12 month high of $442.84. The company has a market capitalization of $26.92 billion, a P/E ratio of -141.28 and a beta of 1.23.
MongoDB (NASDAQ:MDB – Get Free Report) last released its earnings results on Tuesday, December 5th. The company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.45. MongoDB had a negative net margin of 11.70% and a negative return on equity of 20.64%. The business had revenue of $432.94 million for the quarter, compared to the consensus estimate of $406.33 million. During the same period in the previous year, the firm earned ($1.23) EPS. The business’s revenue for the quarter was up 29.8% on a year-over-year basis. Equities research analysts expect that MongoDB will post -1.64 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, CEO Dev Ittycheria sold 100,500 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $375.00, for a total transaction of $37,687,500.00. Following the completion of the sale, the chief executive officer now directly owns 214,177 shares of the company’s stock, valued at approximately $80,316,375. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CRO Cedric Pech sold 1,212 shares of the stock in a transaction on Friday, October 6th. The shares were sold at an average price of $350.00, for a total value of $424,200.00. Following the completion of the transaction, the executive now owns 31,018 shares in the company, valued at approximately $10,856,300. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Dev Ittycheria sold 100,500 shares of the company’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $375.00, for a total transaction of $37,687,500.00. Following the completion of the sale, the chief executive officer now directly owns 214,177 shares in the company, valued at approximately $80,316,375. The disclosure for this sale can be found here. In the last three months, insiders sold 149,882 shares of company stock valued at $57,313,539. Company insiders own 4.80% of the company’s stock.
Institutional Investors Weigh In On MongoDB
Several large investors have recently made changes to their positions in MDB. Jennison Associates LLC grew its holdings in shares of MongoDB by 101,056.3% in the 2nd quarter. Jennison Associates LLC now owns 1,988,733 shares of the company’s stock worth $817,350,000 after purchasing an additional 1,986,767 shares during the last quarter. 1832 Asset Management L.P. grew its holdings in MongoDB by 3,283,771.0% during the 4th quarter. 1832 Asset Management L.P. now owns 1,018,000 shares of the company’s stock worth $200,383,000 after acquiring an additional 1,017,969 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in MongoDB by 13.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,593,996 shares of the company’s stock worth $1,770,313,000 after acquiring an additional 897,911 shares during the last quarter. Norges Bank bought a new stake in MongoDB during the 4th quarter worth about $147,735,000. Finally, T. Rowe Price Investment Management Inc. grew its holdings in MongoDB by 77.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 568,803 shares of the company’s stock worth $111,964,000 after acquiring an additional 248,133 shares during the last quarter. Institutional investors own 88.89% of the company’s stock.
About MongoDB
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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Before you consider MongoDB, you’ll want to hear this.
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While MongoDB currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Click the link below and we’ll send you MarketBeat’s guide to investing in 5G and which 5G stocks show the most promise.
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Zweig DiMenna Associates LLC raised its position in shares of MongoDB, Inc. (NASDAQ:MDB – Free Report) by 112.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,250 shares of the company’s stock after buying an additional 7,550 shares during the quarter. Zweig DiMenna Associates LLC’s holdings in MongoDB were worth $4,929,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. AtonRa Partners bought a new position in shares of MongoDB during the third quarter valued at $237,000. Pursue Wealth Partners LLC increased its holdings in shares of MongoDB by 5.1% during the third quarter. Pursue Wealth Partners LLC now owns 19,246 shares of the company’s stock valued at $6,656,000 after acquiring an additional 942 shares in the last quarter. Moody Lynn & Lieberson LLC increased its holdings in shares of MongoDB by 1.5% during the third quarter. Moody Lynn & Lieberson LLC now owns 31,769 shares of the company’s stock valued at $10,988,000 after acquiring an additional 459 shares in the last quarter. Raymond James & Associates increased its holdings in shares of MongoDB by 34.8% during the third quarter. Raymond James & Associates now owns 53,047 shares of the company’s stock valued at $18,347,000 after acquiring an additional 13,686 shares in the last quarter. Finally, Xponance Inc. increased its holdings in shares of MongoDB by 2.0% during the third quarter. Xponance Inc. now owns 9,405 shares of the company’s stock valued at $3,253,000 after acquiring an additional 187 shares in the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.
MongoDB Price Performance
MDB stock traded down $8.10 during trading on Thursday, hitting $364.88. 1,561,160 shares of the company’s stock traded hands, compared to its average volume of 1,651,053. The company has a debt-to-equity ratio of 1.18, a quick ratio of 4.74 and a current ratio of 4.74. The stock has a market capitalization of $26.34 billion, a price-to-earnings ratio of -138.58 and a beta of 1.23. The business has a fifty day simple moving average of $391.07 and a 200 day simple moving average of $381.05. MongoDB, Inc. has a 52 week low of $164.59 and a 52 week high of $442.84.
MongoDB (NASDAQ:MDB – Get Free Report) last posted its earnings results on Tuesday, December 5th. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.45. The business had revenue of $432.94 million for the quarter, compared to the consensus estimate of $406.33 million. MongoDB had a negative net margin of 11.70% and a negative return on equity of 20.64%. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same quarter last year, the firm posted ($1.23) EPS. As a group, research analysts expect that MongoDB, Inc. will post -1.64 EPS for the current fiscal year.
Insider Transactions at MongoDB
In other news, CEO Dev Ittycheria sold 100,500 shares of MongoDB stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $375.00, for a total value of $37,687,500.00. Following the transaction, the chief executive officer now owns 214,177 shares of the company’s stock, valued at approximately $80,316,375. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other MongoDB news, CFO Michael Lawrence Gordon sold 21,496 shares of MongoDB stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $410.32, for a total transaction of $8,820,238.72. Following the completion of the sale, the chief financial officer now directly owns 89,027 shares in the company, valued at approximately $36,529,558.64. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Dev Ittycheria sold 100,500 shares of MongoDB stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $375.00, for a total transaction of $37,687,500.00. Following the sale, the chief executive officer now owns 214,177 shares of the company’s stock, valued at $80,316,375. The disclosure for this sale can be found here. Insiders have sold a total of 149,882 shares of company stock valued at $57,313,539 in the last 90 days. Insiders own 4.80% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on the company. Truist Financial reiterated a “buy” rating and issued a $430.00 price objective on shares of MongoDB in a report on Monday, November 13th. Stifel Nicolaus reiterated a “buy” rating and issued a $450.00 price objective on shares of MongoDB in a report on Monday, December 4th. Piper Sandler lifted their price objective on MongoDB from $425.00 to $500.00 and gave the stock an “overweight” rating in a report on Wednesday, December 6th. TheStreet upgraded MongoDB from a “d+” rating to a “c-” rating in a report on Friday, December 1st. Finally, Scotiabank began coverage on MongoDB in a research report on Tuesday, October 10th. They issued a “sector perform” rating and a $335.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat, MongoDB has an average rating of “Moderate Buy” and an average price target of $430.41.
Check Out Our Latest Stock Report on MongoDB
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.
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Before you consider MongoDB, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and MongoDB wasn’t on the list.
While MongoDB currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Which stocks are likely to thrive in today’s challenging market? Click the link below and we’ll send you MarketBeat’s list of ten stocks that will drive in any economic environment.
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To help detect and remove content that violates their standard policies, LinkedIn has been using its AutoML framework, which trains classifiers and experiments with multiple model architectures in parallel, explain LinkedIn engineers Shubham Agarwal and Rishi Gupta.
We use AutoML to continuously re-train our existing models, decreasing the time required from months to a matter of days, and to reduce the time needed to develop new baseline models. This enables us to take a proactive stance against emerging and adversarial threats.
One of the key points about content moderation is it needs to be enforced and tuned up continuously to address new strategies devised to circumvent it. Additionally, it must adapt to contextual changes. Those include data drift, i.e., inherent changes in content posted on the platform as conversations progress; global events, which tend to surface in discussions and trigger diverse viewpoints, frequently riddled with misinformation; and adversarial threats, which include fraudulent and deceptive practices like creating fake profiles, running scams, and so on.
To address all of those challenges, LinkedIn uses an approach aimed at “proactive detection”, which requires a process of continuously adapting and evolving its ML models and systems. AutoML, short for Automated Machine Learning, is a tool LinkedIn created internally to improve machine learning performance by continuously retraining models on new data, correcting them including false negatives and false positives, and fine-tuning their parameters.
Leveraging AutoML, we transformed what used to be a lengthy and intricate process into one which is both streamlined and efficient. […] After implementing AutoML, we saw the average time required for developing new baseline models and continuously re-training existing ones shrink from two months to less than a week.
Using AutoML, LinkedIn engineers automated the process of data preparation and feature transformation, including noise reduction, dimensionality reduction, and feature engineering, aiming at creating a high-quality training dataset for classifier training.
In a second phase, AutoML experiments with different classifier architectures by searching over a range of hyperparameters and optimization approaches and comparing the performance of the resulting models based on a set of specified evaluation metrics.
Finally, AutoML automates the deployment process by making the newly trained model available to production servers.
According to Agarwal and Gupta, there are still a few areas where their tool needs to mature, specifically to improve speed and efficiency and enable its adoption on a larger scale, which will eventually increase the requirements of computing power. Another promising area, they say, is using generative AI to improve the quality of datasets, both to reduce labeling noise as well as to generate synthetic data for model training.
While not all organizations operate at LinkedIn scale and have the resources to create their own ML automation tools, still the approach described by Agarwal and Gupta may be replicated at a smaller scale to relieve machine learning engineers from the most repetitive tasks associated with retraining existing models.
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Throughout the last three months, 13 analysts have evaluated MongoDB MDB, offering a diverse set of opinions from bullish to bearish.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 4 | 6 | 3 | 0 | 0 |
| Last 30D | 0 | 0 | 1 | 0 | 0 |
| 1M Ago | 1 | 3 | 1 | 0 | 0 |
| 2M Ago | 2 | 2 | 0 | 0 | 0 |
| 3M Ago | 1 | 1 | 1 | 0 | 0 |
Analysts have set 12-month price targets for MongoDB, revealing an average target of $446.92, a high estimate of $500.00, and a low estimate of $335.00. Observing a 1.41% increase, the current average has risen from the previous average price target of $440.71.
Analyzing Analyst Ratings: A Detailed Breakdown
The standing of MongoDB among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Karl Keirstead | UBS | Lowers | Neutral | $410.00 | $475.00 |
| Matthew Broome | Mizuho | Raises | Neutral | $420.00 | $330.00 |
| Rishi Jaluria | RBC Capital | Raises | Outperform | $475.00 | $445.00 |
| Raimo Lenschow | Barclays | Raises | Overweight | $478.00 | $470.00 |
| Mike Cikos | Needham | Raises | Buy | $495.00 | $445.00 |
| Brent Bracelin | Piper Sandler | Raises | Overweight | $500.00 | $425.00 |
| Brad Reback | Stifel | Maintains | Buy | $450.00 | – |
| Andrew Nowinski | Wells Fargo | Announces | Overweight | $500.00 | – |
| Miller Jump | Truist Securities | Maintains | Buy | $430.00 | – |
| Connor Murphy | Capital One | Announces | Overweight | $427.00 | – |
| Michael Turits | Keybanc | Lowers | Overweight | $440.00 | $495.00 |
| Bradley Sills | B of A Securities | Announces | Buy | $450.00 | – |
| Patrick Colville | Scotiabank | Announces | Sector Perform | $335.00 | – |
Key Insights:
- Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they ‘Maintain’, ‘Raise’, or ‘Lower’ their stance, it signifies their response to recent developments related to MongoDB. This offers insight into analysts’ perspectives on the current state of the company.
- Rating: Analysts unravel qualitative evaluations for stocks, ranging from ‘Outperform’ to ‘Underperform’. These ratings offer insights into expectations for the relative performance of MongoDB compared to the broader market.
- Price Targets: Gaining insights, analysts provide estimates for the future value of MongoDB’s stock. This comparison reveals trends in analysts’ expectations over time.
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into MongoDB’s market standing. Stay informed and make well-considered decisions with our Ratings Table.
Stay up to date on MongoDB analyst ratings.
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.
Understanding the Numbers: MongoDB’s Finances
Market Capitalization Analysis: With a profound presence, the company’s market capitalization is above industry averages. This reflects substantial size and strong market recognition.
Revenue Growth: Over the 3 months period, MongoDB showcased positive performance, achieving a revenue growth rate of 29.77% as of 31 October, 2023. This reflects a substantial increase in the company’s top-line earnings. When compared to others in the Information Technology sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: MongoDB’s net margin is impressive, surpassing industry averages. With a net margin of -6.77%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): The company’s ROE is a standout performer, exceeding industry averages. With an impressive ROE of -3.16%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): MongoDB’s ROA stands out, surpassing industry averages. With an impressive ROA of -1.1%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: MongoDB’s debt-to-equity ratio is below the industry average. With a ratio of 1.22, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
What Are Analyst Ratings?
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish “analyst ratings” for stocks. Analysts typically assess and rate each stock once per quarter.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
This article was generated by Benzinga’s automated content engine and reviewed by an editor.
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** Shares of data research firm MongoDB MDB.O fall 2% to $365.46 after UBS downgrades stock to “neutral” from “buy”
** UBS slashes PT on stock to $410 from $475, an upside of 9% to co’s last close
** UBS says MDB’s total revenue growth likely to decelerate in Q4, compared to a potential acceleration in peers like Snowflake SNOW.N and Datadog DDOG.O
** Brokerage sees benefits from MDB’s new features, if adopted – accruing only in the second half of FY 24
** Of 29 analysts covering stock, 24 say “buy” or higher and five say “hold”; median PT at $476.50 – LSEG data
** Stock had more than doubled in 2023
Reporting by Purvi Agarwal in Bengaluru
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The rating adjustment comes after a 108% stock rally in 2023, which placed MDB as the second-best-performing growth software stock.
“[W]ith the stock now matching the peak forward revs multiple of ~16x revs (on street estimates) over the last two years, it seems an appropriate time to take our foot off the accelerator and move our rating from a Buy to a Neutral,” the analysts said.
While UBS remains favorable towards the robust long-term growth narrative of around 30%, it anticipates a pause in the stock’s re-rating unless there is a substantial pull-through of revenue from AI workloads in 2024.
“[W]hile we’re enthusiastic about an AI-driven database growth catalyst, we’re not picking up material evidence that this is playing out yet – it may prove to be a 2025 catalyst, 2H24 at the earliest.”
“This is consistent with our recent AI Enterprise survey pointing to only modest AI spend in 2024,” they said.
MongoDB shares are already down 11.5% this year.
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MDB Stock: Wall Street AI Favorite MongoDB Hit By Downgrade – Investor’s Business Daily
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Shares of MongoDB (MDB) fell on Thursday after a Wall Street analyst downgraded its view of the database software company from a buy rating to neutral. UBS analysts said it’s time to “take our foot off the accelerator” after MDB stock racked up impressive gains last year.
MongoDB emerged as a favorite artificial intelligence pick on Wall Street last year. Shares gained 108% in 2023. The bullish case for the company argued that its database software will be a go-to for enterprises migrating to the cloud and building data-heavy generative AI applications.
But that will take some more time, UBS analysts said in the client note.
“While we’re enthusiastic about an AI-driven database growth catalyst, we’re not picking up material evidence that this is playing out yet — it may prove to be a 2025 catalyst, (second-half) 2024 at the earliest,” wrote UBS analyst Karl Keirstead.
On the stock market today, MDB stock slipped 1.6% 367.
Still ‘Early Days’ For AI Spend
Further, the big gains last year have put MDB stock on the expensive side. UBS noted that shares are trading at a market value roughly 14-times the analysts’ 2024 revenue estimates. Similar high-growth software stocks trade at a median of about 11-times projected sales, according to UBS.
“While we’re attracted by the potential for database pull-through from AI spend, given MongoDB’s current valuation multiple, we’re concerned the potential AI lift might prove to be too modest and timing too far out for the stock to materially outperform in 2024,” Keirstead wrote.
More broadly, UBS found that companies aren’t ready to spend big on AI just yet. A poll of enterprise software buyers released by UBS in December found that just 6% of respondents are in production phase for a generative AI product That’s despite 100% of organizations saying they are investigating uses for AI.
“We are still in the very early days of AI-related enterprise spend,” Keirstead added.
MDB Stock: Recent Slide After Earnings Report
Still, MongoDB’s products have been growing rapidly. The firm’s $1.2 billion in revenue for the nine-month period ending in October is up 32% from the same time frame in 2022.
But MDB stock is down about 15% since MongoDB’s fiscal third-quarter earnings report published late Dec. 4. The company topped expectations for earnings and overall revenue. But sales growth for its main Atlas database product was slightly lower than expected.
MDB stock fell below its 50-day moving average at the start of trading this year, Jan. 3. Shares are also now significantly below a former buy point of 412.67, according to IBD MarketSmith.
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