Month: July 2024
Public Employees Retirement System of Ohio Reduces Position in MongoDB, Inc. (NASDAQ:MDB)
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Public Employees Retirement System of Ohio lessened its holdings in MongoDB, Inc. (NASDAQ:MDB – Free Report) by 7.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,916 shares of the company’s stock after selling 2,116 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in MongoDB were worth $9,295,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC acquired a new position in MongoDB in the fourth quarter worth $25,000. Blue Trust Inc. lifted its stake in MongoDB by 937.5% in the fourth quarter. Blue Trust Inc. now owns 83 shares of the company’s stock valued at $34,000 after buying an additional 75 shares during the last quarter. YHB Investment Advisors Inc. bought a new stake in MongoDB in the first quarter valued at $41,000. GAMMA Investing LLC bought a new stake in MongoDB in the fourth quarter valued at $50,000. Finally, Sunbelt Securities Inc. lifted its stake in MongoDB by 155.1% in the first quarter. Sunbelt Securities Inc. now owns 125 shares of the company’s stock valued at $45,000 after buying an additional 76 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.
Analyst Ratings Changes
MDB has been the topic of a number of recent research reports. KeyCorp cut their target price on MongoDB from $490.00 to $440.00 and set an “overweight” rating on the stock in a research note on Thursday, April 18th. Truist Financial cut their target price on MongoDB from $475.00 to $300.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Needham & Company LLC reiterated a “buy” rating and issued a $290.00 target price on shares of MongoDB in a research note on Thursday, June 13th. Stifel Nicolaus cut their price objective on shares of MongoDB from $435.00 to $300.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Finally, Loop Capital cut their price objective on shares of MongoDB from $415.00 to $315.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $355.74.
Check Out Our Latest Stock Report on MongoDB
MongoDB Trading Down 0.8 %
MDB traded down $1.99 during trading on Monday, reaching $251.51. The company had a trading volume of 785,177 shares, compared to its average volume of 1,526,075. The firm’s 50-day simple moving average is $258.94 and its 200 day simple moving average is $344.67. The company has a market cap of $18.45 billion, a price-to-earnings ratio of -89.51 and a beta of 1.13. MongoDB, Inc. has a 12-month low of $214.74 and a 12-month high of $509.62. The company has a debt-to-equity ratio of 0.90, a quick ratio of 4.93 and a current ratio of 4.93.
MongoDB (NASDAQ:MDB – Get Free Report) last issued its quarterly earnings results on Thursday, May 30th. The company reported ($0.80) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.80). The firm had revenue of $450.56 million for the quarter, compared to analysts’ expectations of $438.44 million. MongoDB had a negative return on equity of 14.88% and a negative net margin of 11.50%. Equities research analysts anticipate that MongoDB, Inc. will post -2.67 earnings per share for the current year.
Insider Buying and Selling at MongoDB
In other MongoDB news, Director Dwight A. Merriman sold 1,000 shares of MongoDB stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $379.15, for a total transaction of $379,150.00. Following the transaction, the director now owns 522,896 shares of the company’s stock, valued at approximately $198,256,018.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other MongoDB news, Director Dwight A. Merriman sold 1,000 shares of MongoDB stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $379.15, for a total transaction of $379,150.00. Following the transaction, the director now owns 522,896 shares of the company’s stock, valued at approximately $198,256,018.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Thomas Bull sold 138 shares of MongoDB stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $265.29, for a total value of $36,610.02. Following the transaction, the chief accounting officer now directly owns 17,222 shares in the company, valued at approximately $4,568,824.38. The disclosure for this sale can be found here. Insiders have sold a total of 35,179 shares of company stock valued at $9,535,839 in the last 90 days. 3.60% of the stock is currently owned by corporate insiders.
About MongoDB
MongoDB, Inc, together with its subsidiaries, provides general purpose database platform worldwide. The company provides 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-premises, 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.
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MongoDB(NASDAQ: MDB) has generated impressive gains since its IPO. The database management software maker went public at $24 a share in October 2017, and it now trades in the mid-$250s with a market cap of $19 billion.
It impressed investors with its rapid growth, rising gross margins, and exposure to the booming artificial intelligence (AI) market. But can it expand and evolve into a trillion-dollar company by 2050? Let’s review its business model to find out.
Image source: Getty Images.
A niche player in organizing databases
MongoDB’s database management platform helps its clients store large amounts of unstructured data more efficiently. Its cloud-based service, MongoDB Atlas, locks its customers into recurring subscriptions. It serves more than 49,000 customers across the world and works with over 1,000 tech and service partners.
MongoDB can be directly integrated into larger cloud infrastructure platforms like Amazon Web Services (AWS), MicrosoftAzure, and Alphabet‘s Google Cloud Platform (GCP). Those cloud platforms all provide their own database management services, but MongoDB is a more flexible option for companies that use multiple cloud platforms or don’t want to tether themselves to a single cloud infrastructure giant.
MongoDB only controls a low-single-digit slice of the global database market, which IDC expects to expand at a compound annual growth rate (CAGR) of 14% from 2023 to 2027. However, the secular growth of the generative AI market could accelerate that expansion and drive more companies to upgrade their database management services.
How fast is MongoDB growing?
From fiscal 2018 to fiscal 2024 (which ended this January), MongoDB’s revenue increased at a CAGR of 40%. Its adjusted gross margin rose from 75% to 77%, and its adjusted operating margin improved from negative 49% to positive 16%.
But like many other cloud-based software companies, MongoDB currently faces macro headwinds, which are driving many companies to rein in their spending. It expects its revenue to only rise 12% to 13% in fiscal 2025, while analysts expect its revenue to grow at a CAGR of 18% from fiscal 2024 to fiscal 2027.
That slowdown might be disappointing relative to its previous growth rates, but MongoDB could still expand at a faster rate than the global database market. Its stock also doesn’t seem terribly expensive at 10 times this year’s sales.
During its latest conference call in May, CEO Dev Ittycheria said its new generative AI database applications would “reduce the time, cost, and risk of modernizing legacy relational applications.” In a jab at older first-party databases, Ittycheria said the “flexibility required to handle a variety of different data structures is fundamentally at odds with legacy databases that rely on rigid schemes” — and that key difference “makes MongoDB’s document model such a good fit for these AI workloads.”
But could MongoDB become a trillion-dollar stock?
If we optimistically assume MongoDB can grow its top line at a CAGR of 15% from fiscal 2024 to fiscal 2050 as it benefits from the expansion of the database and generative AI markets, it would generate $55 billion in revenue by the final year. If it’s still trading at 10 times sales by then, it would be worth $550 billion.
That would represent a gain of nearly 2,800% from its current price, but it would be slightly past the halfway point toward joining the four-comma club. So instead of wondering if MongoDB will ever become a trillion-dollar tech giant, investors should focus on its ability to use its flexibility to capitalize on the growth of the AI market and disrupt the legacy leaders. They should also see whether it can narrow its net losses and finally generate stable profits. If it can accomplish those goals, it could generate much bigger gains than Amazon, Microsoft, Google, and other cloud software giants by the middle of the century.
Should you invest $1,000 in MongoDB right now?
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John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Leo Sun has positions in Amazon. The Motley Fool has positions in and recommends Alphabet, Amazon, Microsoft, and MongoDB. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.
Article originally posted on mongodb google news. Visit mongodb google news
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The database management software maker could still have plenty of room to grow.
MongoDB (MDB -0.79%) has generated impressive gains since its IPO. The database management software maker went public at $24 a share in October 2017, and it now trades in the mid-$250s with a market cap of $19 billion.
It impressed investors with its rapid growth, rising gross margins, and exposure to the booming artificial intelligence (AI) market. But can it expand and evolve into a trillion-dollar company by 2050? Let’s review its business model to find out.
Image source: Getty Images.
A niche player in organizing databases
MongoDB’s database management platform helps its clients store large amounts of unstructured data more efficiently. Its cloud-based service, MongoDB Atlas, locks its customers into recurring subscriptions. It serves more than 49,000 customers across the world and works with over 1,000 tech and service partners.
MongoDB can be directly integrated into larger cloud infrastructure platforms like Amazon Web Services (AWS), Microsoft Azure, and Alphabet‘s Google Cloud Platform (GCP). Those cloud platforms all provide their own database management services, but MongoDB is a more flexible option for companies that use multiple cloud platforms or don’t want to tether themselves to a single cloud infrastructure giant.
MongoDB only controls a low-single-digit slice of the global database market, which IDC expects to expand at a compound annual growth rate (CAGR) of 14% from 2023 to 2027. However, the secular growth of the generative AI market could accelerate that expansion and drive more companies to upgrade their database management services.
How fast is MongoDB growing?
From fiscal 2018 to fiscal 2024 (which ended this January), MongoDB’s revenue increased at a CAGR of 40%. Its adjusted gross margin rose from 75% to 77%, and its adjusted operating margin improved from negative 49% to positive 16%.
But like many other cloud-based software companies, MongoDB currently faces macro headwinds, which are driving many companies to rein in their spending. It expects its revenue to only rise 12% to 13% in fiscal 2025, while analysts expect its revenue to grow at a CAGR of 18% from fiscal 2024 to fiscal 2027.
That slowdown might be disappointing relative to its previous growth rates, but MongoDB could still expand at a faster rate than the global database market. Its stock also doesn’t seem terribly expensive at 10 times this year’s sales.
During its latest conference call in May, CEO Dev Ittycheria said its new generative AI database applications would “reduce the time, cost, and risk of modernizing legacy relational applications.” In a jab at older first-party databases, Ittycheria said the “flexibility required to handle a variety of different data structures is fundamentally at odds with legacy databases that rely on rigid schemes” — and that key difference “makes MongoDB’s document model such a good fit for these AI workloads.”
But could MongoDB become a trillion-dollar stock?
If we optimistically assume MongoDB can grow its top line at a CAGR of 15% from fiscal 2024 to fiscal 2050 as it benefits from the expansion of the database and generative AI markets, it would generate $55 billion in revenue by the final year. If it’s still trading at 10 times sales by then, it would be worth $550 billion.
That would represent a gain of nearly 2,800% from its current price, but it would be slightly past the halfway point toward joining the four-comma club. So instead of wondering if MongoDB will ever become a trillion-dollar tech giant, investors should focus on its ability to use its flexibility to capitalize on the growth of the AI market and disrupt the legacy leaders. They should also see whether it can narrow its net losses and finally generate stable profits. If it can accomplish those goals, it could generate much bigger gains than Amazon, Microsoft, Google, and other cloud software giants by the middle of the century.
John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Leo Sun has positions in Amazon. The Motley Fool has positions in and recommends Alphabet, Amazon, Microsoft, and MongoDB. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.
Article originally posted on mongodb google news. Visit mongodb google news
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NEW YORK, July 29, 2024 (GLOBE NEWSWIRE) —
WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of MongoDB, Inc. (NASDAQ: MDB) between August 31, 2023 and May 30, 2024, both dates inclusive (the “Class Period”), of the important September 9, 2024 lead plaintiff deadline.
Article originally posted on mongodb google news. Visit mongodb google news
Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action …
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LOS ANGELES, July 29, 2024 (GLOBE NEWSWIRE) — Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming September 9, 2024 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired MongoDB, Inc. (“MongoDB” or the “Company”) (NASDAQ: MDB ) securities between August 31, 2023 and May 30, 2024, inclusive (the “Class Period”).
If you suffered a loss on your MongoDB investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/MongoDB-Inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.
Article originally posted on mongodb google news. Visit mongodb google news
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The way organisations store, manage and analyse data will always be a challenging issue given the constant assault of data on corporate IT systems. It’s as though IT teams are always playing catch-up.
According to Veritas, the average company stores around 10PB (petabytes) of data – equating to around 23 billion files – 52% of which is unclassified (or dark) data and 33% of which is redundant, obsolete and trivial. While this inevitably impacts storage costs and cyber security (that’s a whole other story), analysing and deriving insight from this data is not easy. It demands a different approach to how data is traditionally managed, as more and more organisations work with increasingly complex data relationships.
Generative artificial intelligence (GenAI) is undoubtedly becoming an increasing consideration, especially when it comes to corporate thinking around data management. But it’s something of a double-edged sword at the moment. The upsides – often headline-catching benefits – are influencing board members. Acording to Capgemini research, 96% of executives cite GenAI as a hot topic of discussion in the boardroom. But when it comes to practical realities, there is still some uncertainty.
As Couchbase’s seventh annual survey of global IT leaders reveals, businesses are struggling with data architectures that fail to manage the demands of data. The research claims that this struggle amounts to an average of $4m in wasted spending. Some 42% of respondents blame this on a reliance on legacy technology that cannot meet digital requirements, while 36% cite problems accessing or managing the required data.
What is clear is that relational databases can’t move quickly enough to support the demands of modern, data-intensive applications – and businesses are suffering as a result.
Managing structured and unstructured datasets has led to different approaches. For example, graph databases – a type of NoSQL database – are increasingly seen as essential to the modern mix of databases that organisations need to address their data needs. Interestingly, Couchbase’s survey findings show that 31% of enterprises have consolidated database architectures so applications cannot access multiple versions of data, and that only 25% of enterprises have a high-performance database that can manage unstructured data at high speed.
NoSQL databases in action
So, who is using graph and other NoSQL databases, and why? Can a multi-database approach help, or does it just mean more complexity to manage? According to Rohan Whitehead, data specialist at the Institute of Analytics (IoA), a professional body for analytics and data science professionals, the primary reasons for adopting graph databases are their efficiency in handling highly interconnected data and their ability to perform complex queries with low latency.
“They provide a natural and intuitive way to model real-world networks, making them ideal for use cases where understanding the relationships between data points is crucial,” he says.
Examples of prominent users include social networks, such as Facebook, which want to analyse relationships through social graphs. Financial services providers also use graph databases for fraud detection, mapping transaction patterns to uncover anomalies that could indicate fraudulent activities. And supply chain companies use graph databases to optimise logistics by analysing the relationships between suppliers, products and routes.
“NoSQL databases are widely adopted across industries such as e-commerce, IoT [internet of things] and real-time analytics,” says Whitehead. “E-commerce giants like Amazon and eBay use document-oriented databases like MongoDB for managing product catalogues, enabling quick and flexible updates without the need for complex schema implications.”
He adds that IoT applications, such as those in smart cities or industrial automation, benefit from the “scalability and flexibility of key-value stores like Redis, which can handle the high velocity of data generated by sensors. In real-time analytics, companies use column-family stores like Cassandra to process and analyse large volumes of streaming data, enabling quick decision-making and insights.”
Scalability and flexibility
While graph databases are efficient in their handling of interconnected data, performing low-latency queries, NoSQL can scale horizontally, handle unstructured data and work well in distributed environments. The key here is the ability to manage different data models and support various workloads.
“Today, many teams use graphs because they are a flexible and performant option for many modern data systems,” says Jim Webber, chief scientist at Neo4j. “Graphs suit many domains because highly associative (i.e. graph) data is prevalent in many business domains. Graphs are now a general-purpose technology in much the same way as relational databases, and most problems can be easily reasoned out as graphs.”
As an example, he points to one of Neo4j’s large banking customers that wants to “know its risk profile by transitively querying a complex network of holdings”. According to Webber, the organisation had repeatedly started and abandoned the project, having tried to get it to work using relational tables. In another example, Webber says Transport for London uses graphs to act faster in repairing and maintaining London’s road networks, “saving the city around £600m a year”.
Another Neo4j customer is ExpectAI, a London-based consultancy that is using graph database technology for climate change solutions. According to CEO and founder Anand Verma, graph technology has enabled the company to “navigate a vast ecosystem of public and private data, whilst providing the traceability and context needed to reduce pessimism around perceived greenwashing”.
Verma adds that the flexibility of graph databases has given the business what it needs to effectively capture complex relationships in its data. “This in turn provides the powerful information and insights our customers require to take profitable actions whilst reducing their carbon footprints,” he says.
But it is the AI bit of the company’s name that is really adding value to the offering. Verma suggests AI is helping the technology to organise unstructured data, which in turn is enabling semantic search and vector indexing.
“This is helping users to interpret their data through an NLP [natural language processing] conversational Q&A [questions and answers] interface,” says Verma. “Our end goal with this technology is to significantly contribute towards 500 megatons in carbon emissions reduction across the world by 2030.”
It’s a worthy aim and a good example of how graph technology is transforming data relationships and enabling new, complex data business ideas to flourish. The use of AI will invariably increase as organisations look to reduce manual functions, drive time query times and increase insights.
AI and NoSQL
The IoA’s Whitehead says graph databases are “particularly well-suited for AI applications that require understanding and analysing relationships within data”. He adds that the technology can support advanced algorithms for pattern recognition, community detection and pathfinding, which are crucial for tasks such as recommendation systems, fraud detection and knowledge graphs.
For Ken LaPorte, manager of Bloomberg’s data infrastructure engineering group, AI has already had a significant impact, but with NoSQL, the business has seen a lot of interest internally in “making use of Apache AGE, the graph database extension, together with PostgreSQL”.
“It has been in use for everything from data lineage (tracing data as it moves through systems) to intricate deployment dashboards. The analytical power of Apache AGE combined with Bloomberg’s rich datasets has been a natural success story for us.”
AI is therefore proving invaluable as the business wrestles with the ever-increasing volume of structured and unstructured information needed to make informed decisions.
“As we’re seeing an exponential increase in financial information across all asset classes, Bloomberg is continuing to invest in a number of different technologies to ensure we can execute on our comprehensive AI strategy,” adds LaPorte. “Graph and vector databases are key parts of that effort, in addition to vector search components built into other data technologies. This spans traditional sparse search to more AI-driven dense vector (or semantic) searches.”
NoSQL databases, with their ability to handle large volumes of data, are integral to AI applications. They support real-time data ingestion and querying, essential for AI applications requiring immediate data processing and decision-making, such as predictive maintenance and real-time analytics.
At Bloomberg, for instance, real-time data analysis capabilities of graph databases support AI applications that demand instantaneous insights, such as dynamic pricing and anomaly detection.
“The flexible data models of NoSQL databases allow for the storage and processing of complex and varied data types, which is advantageous for AI applications that need to handle unstructured data like text, images and sensor data,” says IoA’s Whitehead. As an example, he says: “MongoDB’s document-oriented model facilitates the storage and retrieval of JSON-based data, which is commonly used in AI workflows.”
Database future direction
Whitehead suggests that the future of graph databases “looks promising”, with expected growth in adoption as more organisations recognise the value of analysing interconnected data. “Industries such as healthcare, telecommunications and finance will increasingly rely on graph databases for their analytical capabilities,” he says, adding that future developments will likely focus on enhancing graph analytics and deeper integration with AI technologies.
Expect to see cloud providers expanding their database offerings, touting more robust, scalable and integrated solutions. Graph and other NoSQL databases are “poised for significant growth and innovation”, says Whitehead.
He’s not alone in this thinking. The consensus is that the capabilities will match the growing vision of industry, with the integration of AI enabling more intelligent and data-driven applications.
Bloomberg’s LaPorte has some advice: “Everyone needs to experiment. You need to think of a use case. You can rely on products like DataStax AstraDB, OpenAI, etc, to create a production-ready solution in no time and measure its value immediately. Then, if the direction looks good enough, you can invest more resources to optimise the use case.”
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LRI Investments LLC bought a new stake in MongoDB, Inc. (NASDAQ:MDB – Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 296 shares of the company’s stock, valued at approximately $106,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Quadrant Capital Group LLC increased its position in MongoDB by 5.6% in the 4th quarter. Quadrant Capital Group LLC now owns 412 shares of the company’s stock valued at $168,000 after acquiring an additional 22 shares during the period. EverSource Wealth Advisors LLC raised its position in MongoDB by 12.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 226 shares of the company’s stock worth $92,000 after purchasing an additional 25 shares during the last quarter. Yousif Capital Management LLC lifted its holdings in MongoDB by 3.9% during the 4th quarter. Yousif Capital Management LLC now owns 792 shares of the company’s stock worth $324,000 after buying an additional 30 shares during the period. Valley National Advisers Inc. grew its position in shares of MongoDB by 5.9% in the 4th quarter. Valley National Advisers Inc. now owns 597 shares of the company’s stock valued at $244,000 after buying an additional 33 shares during the last quarter. Finally, First Trust Direct Indexing L.P. increased its stake in shares of MongoDB by 2.2% in the fourth quarter. First Trust Direct Indexing L.P. now owns 1,561 shares of the company’s stock valued at $638,000 after buying an additional 33 shares during the period. Institutional investors own 89.29% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have weighed in on MDB. Tigress Financial decreased their target price on shares of MongoDB from $500.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. Bank of America dropped their price target on shares of MongoDB from $500.00 to $470.00 and set a “buy” rating on the stock in a research report on Friday, May 17th. Truist Financial reduced their target price on shares of MongoDB from $475.00 to $300.00 and set a “buy” rating for the company in a research note on Friday, May 31st. Loop Capital dropped their price target on MongoDB from $415.00 to $315.00 and set a “buy” rating on the stock in a report on Friday, May 31st. Finally, Robert W. Baird reduced their target price on shares of MongoDB from $450.00 to $305.00 and set an “outperform” rating for the company in a research report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $355.74.
Check Out Our Latest Research Report on MDB
MongoDB Price Performance
MDB opened at $253.50 on Monday. The company has a current ratio of 4.93, a quick ratio of 4.93 and a debt-to-equity ratio of 0.90. MongoDB, Inc. has a 12-month low of $214.74 and a 12-month high of $509.62. The stock has a 50-day moving average price of $261.27 and a 200-day moving average price of $345.66.
MongoDB (NASDAQ:MDB – Get Free Report) last posted its quarterly earnings results on Thursday, May 30th. The company reported ($0.80) earnings per share for the quarter, hitting the consensus estimate of ($0.80). The business had revenue of $450.56 million during the quarter, compared to the consensus estimate of $438.44 million. MongoDB had a negative net margin of 11.50% and a negative return on equity of 14.88%. As a group, equities analysts expect that MongoDB, Inc. will post -2.67 EPS for the current year.
Insider Buying and Selling
In related news, Director Hope F. Cochran sold 1,174 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $224.38, for a total value of $263,422.12. Following the sale, the director now directly owns 13,011 shares of the company’s stock, valued at $2,919,408.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Hope F. Cochran sold 1,174 shares of MongoDB stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $224.38, for a total transaction of $263,422.12. Following the sale, the director now owns 13,011 shares of the company’s stock, valued at approximately $2,919,408.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dwight A. Merriman sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $379.15, for a total transaction of $379,150.00. Following the completion of the sale, the director now owns 522,896 shares of the company’s stock, valued at $198,256,018.40. The disclosure for this sale can be found here. Insiders have sold a total of 35,179 shares of company stock valued at $9,535,839 over the last three months. 3.60% of the stock is owned by company insiders.
About MongoDB
MongoDB, Inc, together with its subsidiaries, provides general purpose database platform worldwide. The company provides 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-premises, 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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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).
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Article originally posted on InfoQ. Visit InfoQ
A controversial survey by Upwork Research Institute found that while 96% of C-suite leaders expect the use of generative AI tools to increase overall productivity levels, 77% of surveyed employees say they have actually decreased their productivity. In fact, the survey contradicts previous research showing a positive correlation.
Upwork Research surveyed 2,500 workers across the US, UK, Australia, and Canada, including C-suite executives (50%), full-time employees (25%), and freelancers (25%).
The picture provided by executives contradicts strikingly what employees report. Indeed, 81% of leaders at companies that deployed AI-based tools believe the overall company productivity increased, compared with only 42% of leaders at companies that did not adopt AI-based tools. Yet, many leader expect more:
One in two executives at companies using AI believe their company is falling behind their competitors (51%) and that their workforce’s overall productivity levels are stalled due to lack of employee skills and adoption (50%).
Despite their expectations about the benefits of using AI tools, approximately three-quarters of surveyed executives admit they have no training plan in place for their workforce and only 13% maintain they developed a well-implemented strategy. Instead, AI adoption seems to be emerging bottoms up, thanks to early adopters and innovators among the workforce.
This is somewhat coherent with 47% of surveyed workers saying “they have no idea how to achieve the productivity gains their employers expect”. Interestingly, executives believe the opposite, with 37% of them saying their workforce is highly skilled and comfortable with these tools. The reality is only 17% of employees feel they are.
Surveyed workers list several factors that contribute to their productivity loss:
For example, survey respondents reported that they’re spending more time reviewing or moderating AI-generated content (39%), invest more time learning to use these tools (23%), and are now being asked to do more work (21%).
This leads Upwork researchers to explain these data through the well-known “productivity paradox“, referring to the slowdown in US productivity during the 70s and the 80s while IT tech adoption was rapidly climbing.
By deploying new technology—no matter how exciting and full of potential—without updating our organizational systems and models, we risk creating productivity strain […]. We risk another productivity paradox with generative AI if we don’t fundamentally rethink the way we work.
Among the measures that Upwork suggests to improve AI adoption are leveraging non-traditional talent, co-creating productivity metrics, and move toward skill-based approaches rather then job roles.
Echoed by Forbes’ contributor Bryan Robinson, who writes “scientific findings released today contradict those expectations and re-ignite apprehensions about AI’s impact on employee overload and burnout”, the survey has raised some criticism on the Internet.
The first factor of criticism is the source of the survey itself. Being Upwork a marketplace for freelancers, several commentators see a credibility problem with a survey that makes freelancers appear more attractive to large organizations. Another reason for concern is the lack of a full explanation of the survey methodology.
Others are more open to accept the survey as trustworthy but tend to highlight the limits of AI tools themselves saying “AI models (generative or not) are useful in specific cases, not all cases. Failing to acknowledge that and failing to strategise accordingly only leads to short term success and long term pain.” or even the lack of understanding of AI tools in management: “The only people excited are people who simply do not know enough to know they are wrong.”. It goes without saying that many commenters report an increase in their productivity and an actual workload reduction by automating small, repetitive tasks.
As a final note, it seems the majority of academic research on the topic tends to posit a positive correlation between the use of AI tools and productivity, but their analysis falls out of the scope of the present article.
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Shell Asset Management Co. lessened its stake in shares of MongoDB, Inc. (NASDAQ:MDB – Free Report) by 47.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 546 shares of the company’s stock after selling 497 shares during the period. Shell Asset Management Co.’s holdings in MongoDB were worth $196,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the stock. Raymond James & Associates increased its stake in MongoDB by 14.2% during the 4th quarter. Raymond James & Associates now owns 60,557 shares of the company’s stock valued at $24,759,000 after purchasing an additional 7,510 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in MongoDB by 64.6% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 5,637 shares of the company’s stock valued at $2,305,000 after purchasing an additional 2,213 shares in the last quarter. Pacer Advisors Inc. increased its stake in MongoDB by 1,400.8% during the 4th quarter. Pacer Advisors Inc. now owns 3,632 shares of the company’s stock valued at $1,485,000 after purchasing an additional 3,390 shares in the last quarter. Schechter Investment Advisors LLC bought a new stake in MongoDB during the 4th quarter valued at $226,000. Finally, Blue Trust Inc. increased its stake in MongoDB by 937.5% during the 4th quarter. Blue Trust Inc. now owns 83 shares of the company’s stock valued at $34,000 after purchasing an additional 75 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.
MongoDB Stock Down 1.1 %
Shares of MongoDB stock opened at $253.50 on Monday. MongoDB, Inc. has a 12-month low of $214.74 and a 12-month high of $509.62. The company has a debt-to-equity ratio of 0.90, a current ratio of 4.93 and a quick ratio of 4.93. The company’s 50-day moving average price is $261.27 and its 200-day moving average price is $345.66.
MongoDB (NASDAQ:MDB – Get Free Report) last announced its quarterly earnings results on Thursday, May 30th. The company reported ($0.80) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.80). MongoDB had a negative net margin of 11.50% and a negative return on equity of 14.88%. The firm had revenue of $450.56 million for the quarter, compared to the consensus estimate of $438.44 million. As a group, research analysts expect that MongoDB, Inc. will post -2.67 earnings per share for the current year.
Insider Buying and Selling
In related news, Director Dwight A. Merriman sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $374.95, for a total value of $2,249,700.00. Following the transaction, the director now directly owns 1,148,784 shares in the company, valued at $430,736,560.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CAO Thomas Bull sold 138 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $265.29, for a total value of $36,610.02. Following the transaction, the chief accounting officer now owns 17,222 shares in the company, valued at $4,568,824.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dwight A. Merriman sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $374.95, for a total transaction of $2,249,700.00. Following the completion of the transaction, the director now owns 1,148,784 shares in the company, valued at approximately $430,736,560.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,179 shares of company stock worth $9,535,839. Insiders own 3.60% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts have commented on the stock. Scotiabank decreased their price target on shares of MongoDB from $385.00 to $250.00 and set a “sector perform” rating for the company in a research note on Monday, June 3rd. KeyCorp reduced their target price on shares of MongoDB from $490.00 to $440.00 and set an “overweight” rating for the company in a research note on Thursday, April 18th. Oppenheimer reduced their target price on shares of MongoDB from $480.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, May 31st. Piper Sandler reduced their target price on shares of MongoDB from $350.00 to $300.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Finally, Tigress Financial reduced their target price on shares of MongoDB from $500.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, MongoDB presently has a consensus rating of “Moderate Buy” and a consensus target price of $355.74.
MongoDB Profile
MongoDB, Inc, together with its subsidiaries, provides general purpose database platform worldwide. The company provides 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-premises, 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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NEW YORK CITY, NY / ACCESSWIRE / July 29, 2024 / Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against MongoDB, Inc. (“MongoDB” or “the Company”) (NASDAQ:MDB) and certain of its officers.
Class Definition
This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired MongoDB securities between August 23, 2023, and May 30, 2024, inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: bgandg.com/MDB.
Case Details
The complaint alleges that on March 7, 2024, MongoDB reported strong Q4 2024 results and then announced lower-than-expected full-year guidance for 2025. The Complaint adds that the Company attributed this to a change in its “sales incentive structure,” which led to a decrease in revenue related to “unused commitments and multi-year licensing deals.” Following this news, MongoDB’s stock dropped $28.59 per share to close at $383.42. Then, on May 30, 2024, MongoDB further lowered its guidance for the full year 2025, attributing it to “macro impacting consumption growth.” Analysts commenting on the reduced guidance questioned whether changes to the Company’s marketing strategy “led to change in customer behavior and usage patterns.” Following this news, MongoDB’s stock dropped $73.94 per share to close at $236.06.
What’s Next?
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm’s site: bgandg.com/MDB or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 332-239-2660. If you suffered a loss in MongoDB you have until September 9, 2024, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff.
There is No Cost to You
We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys’ fees, usually a percentage of the total recovery, only if we are successful.
Why Bronstein, Gewirtz & Grossman
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.
Attorney advertising. Prior results do not guarantee similar outcomes.
Contact
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Nathan Miller
332-239-2660 | [email protected]
SOURCE: Bronstein, Gewirtz & Grossman, LLC
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