Month: September 2024
MongoDB, Inc. Sued for Securities Law Violations – Contact the DJS Law Group to Discuss …
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LOS ANGELES, Sept. 9, 2024 /PRNewswire/ — The DJS Law Group reminds investors of a class action lawsuit against MongoDB, Inc. (“MongoDB” or “the Company”) (NASDAQ: MDB) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Shareholders who purchased shares of MDB during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointments. Appointment as lead plaintiff is not required to partake in any recovery.
CASE DETAILS: The Complaint alleges that MongoDB made false and misleading statements to the market when it touted its anticipated growth and ability to manage macroeconomic fluctuations. MongoDB’s sales incentives encouraged low-value enrollments. The Company’s public statements were false and materially misleading throughout the class period.
If you are a shareholder who suffered a loss, contact us to participate.
WHY DJS LAW GROUP? DJS Law Group’s primary focus is to enhance investor return through balanced counseling and aggressive advocacy. We specialize in securities class actions, corporate governance litigation, and domestic/international M&A appraisals. Our clients are some of the largest and most sophisticated hedge funds and alternative asset managers in the world. The litigation claims of our clients are extraordinarily valuable assets that demand respect, focus, and results.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
David J. Schwartz
DJS Law Group
274 White Plains Road, Suite 1
Eastchester, NY 10709
Phone: 914-206-9742
Email: David@djslawllp.com
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SOURCE DJS Law Group LLP
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Last month, the latest edition of the .NET Conf: Focus series for 2024 took place, featuring AI development topics. The event targeted developers of all levels, with both informative and hands-on sessions showcasing how to use artificial intelligence within the .NET ecosystem. This was one of the most technical events ever in the Focus series, with many high-quality, deep-dive sessions.
The focus series is a branch of the original .NET Conf, an annual event organized by the .NET community and Microsoft that showcases the latest developments for the .NET platform. Each focus event targets a specific .NET-related technology, providing a series of in-depth, hands-on sessions aimed at .NET developers. The focus conferences are free, one-day live-streamed events featuring speakers from the community and .NET product teams.
.NET Conf: Focus on AI was a singular event within the Focus series, since it aimed at exploring the intersection of the latest advances in AI and the .NET ecosystem. As a result, this event had sessions ranging from introduction to AI-related topics (such as Retrieval-Augmented Generation) to deeply technical sessions on using AI tools and techniques when developing .NET applications.
The conference started with a keynote from Microsoft’s Scott Hanselman, Vice-President of Developer Community, and Maria Naggaga, Senior Program Manager on the Visual Studio and .NET team. While emphasizing that AI is a core component of the future .NET applications, they set the tone for the rest of the conference, addressing the evolution of current applications into truly intelligent applications.
The presenters discussed many current AI topics and techniques, such as Ethics and RAG (Retrieval-Augmented Generation) – the latter being extremely interesting, especially to .NET developers not too familiar with the AI landscape. Naggaga explained the basics of RAG, illustrating how it could be particularly effective in customer support scenarios that combine the use of AI with real-time retrieval data. Together with Hanselman’s demonstration of how GitHub Copilot could be used as an intelligent pair programmer, the keynote revolved around using contextual, domain-specific data with intelligent (AI) applications.
The second session in the agenda was presented by Stephen Toub, one of Microsoft’s Distinguished Engineers on the .NET team. This session focused on how to get started with incorporating AI into existing .NET applications. For this purpose, Toub live-coded a console application, ultimately showing how Semantic Kernel can be used to abstract the use of AI services from the application logic layer.
Daniel Roth, Program Manager on the ASP.NET team at Microsoft, followed with a hands-on session on building interactive AI-powered web apps with Blazor and .NET. This was a particularly useful demonstration of using existing AI components for .NET development to provide better user experiences. Another very interesting session was presented by Bruno Capuano, AI and .NET Advocate at Microsoft. He showed how to integrate AI models within .NET application using a practical scenario involving the use of local and remote small language models – which was well-received by the audience due to the complementary use of local and remote instances of Microsoft’s Phi-3 for text and vision.
The remainder of the sessions were short (approx. 30 minutes), covering or extending topics mentioned in the keynote. While the majority of the sessions explored the use of cloud-based services (Azure), all of them provided great practical insights for developing AI-powered ,NET applications. Other interesting sessions in the event included: using AI agents to automate business workflows, building a personalized AI assistant with the Teams AI library, and using vector embeddings in .NET environments to power recommenders and RAG applications.
A relevant key takeaway for the conference is related to the audience’s reaction to the sessions – more specifically, the overall concerns related to adopting AI in the new generation of applications. The primary concern of the audience was related to privacy: during the event, there was consistent concern related to the use of confidential organizational information with RAG, since the concept is based on contextual, domain-specific-data. While there was not a dedicated session to address this concern, the engineers answering the live questions considered publishing a technical article addressing this point (yet to be published).
Following privacy, the second greatest concern was related to costs: since most of the practical solutions presented at the event involved Azure services, the audience was clearly worried about the costs of using them – a lesson learned from past cloud projects. Also, there was a recurrent question about the possibility of ML.NET being abandoned by Microsoft – which certainly poses an interesting discussion, especially considering the increasing mention of other tools and integrations in the latest posts on AI by Microsoft.
The complete agenda for the event can be found here, and the complete recording of this event is available on YouTube. Also, the repository containing all session slides and the primary demo used in the hands-on sessions can be found on GitHub.
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With the emergence of this field, data engineering skills have also emerged. Some of the most in-demand skills for data engineers in Europe include:
a. Cloud Platforms: Experience in using cloud platforms such as AWS, GCP, and Microsoft Azure is highly valued. With an increasing number of companies migrating to the cloud, data engineers should be able to design, implement, and maintain cloud-based data solutions.
b. Big Data Technologies: Big data technologies like Hadoop, Spark, and Kafka are in demand. These tools are being utilized to process and analyze huge quantities of data. Expertise in these technologies can significantly a data engineer’s career.
c. Programming Languages: Python, Java, and Scala are the most prominent among all programming languages for data engineers. Especially Python, with its enhanced ability to handle large sets of tasks and vast libraries that contribute to data manipulation and analysis, is in demand.
d. Data Warehousing: Knowledge of various data warehousing solutions using Snowflake, Redshift, and BigQuery is crucial. A data engineer is responsible for designing and managing data warehouses, which store and process enormous amounts of information.
e. SQL and NoSQL Databases: Proficiency in SQL is a basic requirement in this field, and knowledge of NoSQL databases like MongoDB and Cassandra is gaining more significance as companies try to manage unstructured data.
f. Automation of Data Pipelines: Efficiency in data engineering can only be achieved through automation. Common usage involves tools such as Apache Airflow, Luigi, and Prefect for automating ETL processes, and familiarity with any such tool will be highly advantageous.
Levi & Korsinsky Reminds MongoDB, Inc. Investors of the Pending Class Action Lawsuit with …
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NEW YORK, NY / ACCESSWIRE / September 8, 2024 / If you suffered a loss on your MongoDB, Inc. (NASDAQ:MDB) investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information:
https://zlk.com/pslra-1/mongodb-inc-lawsuit-submission-form?prid=100986&wire=1
or contact Joseph E. Levi, Esq. via email at [email protected] or call (212) 363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: A class action securities lawsuit was filed against MongoDB, Inc. that seeks to recover losses of shareholders who were adversely affected by alleged securities fraud between August 31, 2023 and May 30, 2024.
CASE DETAILS: According to the complaint, on March 7, 2024, MongoDB reported strong Q4 2024 results and then announced lower than expected full-year guidance for 2025. MongoDB attributed it to the Company’s 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 price fell by $28.59 per share to close at $383.42 per share.
Later, 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 if changes made to the Company’s marketing strategy “led to change in customer behavior and usage patterns.”
Following this news, MongoDB’s stock price fell by $73.94 per share to close at $236.06 per share.
WHAT’S NEXT? If you suffered a loss in MongoDB stock during the relevant time frame – even if you still hold your shares – go to https://zlk.com/pslra-1/mongodb-inc-lawsuit-submission-form?prid=100986&wire=1 to learn about your rights to seek a recovery. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
https://zlk.com/
SOURCE: Levi & Korsinsky, LLP
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New York, New York–(Newsfile Corp. – September 7, 2024) – 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.
SO WHAT: If you purchased MongoDB securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the MongoDB class action, go to https://rosenlegal.com/submit-form/?case_id=27182 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than September 9, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants created the false impression that they possessed reliable information pertaining to MongoDB’s projected revenue outlook and anticipated growth while also minimizing risk from seasonality and macroeconomic fluctuations. In truth, MongoDB’s sales force restructure, which prioritized reducing friction in the enrollment process, had resulted in complete loss of upfront commitments; a significant reduction in the information gathered by their sales force as to the trajectory for the new MongoDB Atlas enrollments; and reduced pressure on new enrollments to grow. Defendants misled investors by providing the public with materially flawed statements of confidence and growth projections which did not account for these variables. When the true details entered the market, the lawsuit claims that investors suffered damages.
To join the MongoDB class action, go to https://rosenlegal.com/submit-form/?case_id=27182 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.
Attorney Advertising. Prior results do not guarantee a similar outcome.
——————————-
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/222385
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MDB FRAUD NOTICE: MongoDB, Inc. Investors are Notified to Contact BFA Law Before the …
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NEW YORK, NY / ACCESSWIRE / September 8, 2024 / Leading securities law firm Bleichmar Fonti & Auld LLP announces a lawsuit has been filed against MongoDB, Inc. (NASDAQ:MDB) and certain of the Company’s senior executives.
If you suffered losses on your MongoDB investment, you are encouraged to submit your information at https://www.bfalaw.com/cases-investigations/mongodb-inc.
Investors have until September 9, 2024 to ask the Court to be appointed to lead the case. The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in MongoDB securities. The case is pending in the U.S. District Court for the Southern District of New York and is captioned John Baxter v. MongoDB, Inc., et al., No. 1:24-cv-05191.
What is the Lawsuit About?
The complaint alleges that the Company misrepresented the purported benefits stemming from the restructuring of its sales force. This includes how the restructuring helped reduce friction in acquiring new customers and increased new workload acquisition among existing customers.
These statements were allegedly materially false and misleading. In truth, MongoDB’s sales force restructuring resulted in a near total loss of upfront customer commitments, a significant reduction in actionable information gathered by the sales force, and hindered enrollment and revenue growth.
On March 7, 2024, the Company allegedly announced that due to the sales restructuring, it experienced an annual decrease of approximately $40 million in multiyear license revenue, anticipated near zero revenue from unused Atlas commitments (one of its core offerings) in fiscal year 2025, and provided a disappointing revenue growth forecast that trailed that of the prior year. This news caused the price of MongoDB stock to decline $28.59 per share, or about 7%, from $412.01 per share on March 7, 2024, to $383.42 per share on March 8, 2024.
Then, on May 30, 2024, the Company again announced significantly reduced growth expectations, this time cutting fiscal year 2025 growth projections further, again attributing the losses to the sales force restructuring. On this news, the price of MongoDB stock declined $73.94 per share, or nearly 24%, from $310.00 per share on May 30, 2024, to $236.06 per share on May 31, 2024.
Click here if you suffered losses: https://www.bfalaw.com/cases-investigations/mongodb-inc.
What Can You Do?
If you invested in MongoDB, Inc. you have rights and are encouraged to submit your information to speak with an attorney.
All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The Firm will seek court approval for any potential fees and expenses. Submit your information:
https://www.bfalaw.com/cases-investigations/mongodb-inc
Or contact:
Ross Shikowitz
[email protected]
212-789-3619
Why Bleichmar Fonti & Auld LLP?
Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been named Titans of the Plaintiffs’ Bar by Law360 and SuperLawyers by Thompson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors (pending court approval), as well as $420 million from Teva Pharmaceutical Ind. Ltd.
For more information about BFA and its attorneys, please visit https://www.bfalaw.com.
https://www.bfalaw.com/cases-investigations/mongodb-inc
Attorney advertising. Past results do not guarantee future outcomes.
SOURCE: Bleichmar Fonti & Auld LLP
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Rhumbline Advisers cut its holdings in MongoDB, Inc. (NASDAQ:MDB – Free Report) by 3.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,116 shares of the company’s stock after selling 3,040 shares during the quarter. Rhumbline Advisers owned 0.12% of MongoDB worth $22,775,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of MDB. Transcendent Capital Group LLC purchased a new stake in shares of MongoDB during the 4th quarter worth $25,000. MFA Wealth Advisors LLC purchased a new stake in MongoDB during the second quarter worth about $25,000. YHB Investment Advisors Inc. purchased a new position in MongoDB in the first quarter valued at about $41,000. Sunbelt Securities Inc. lifted its position in shares of MongoDB by 155.1% during the 1st quarter. Sunbelt Securities Inc. now owns 125 shares of the company’s stock valued at $45,000 after acquiring an additional 76 shares during the period. Finally, J.Safra Asset Management Corp lifted its position in shares of MongoDB by 682.4% during the 2nd quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock valued at $33,000 after acquiring an additional 116 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.
Wall Street Analyst Weigh In
MDB has been the subject of several research analyst reports. UBS Group raised their price objective on MongoDB from $250.00 to $275.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Robert W. Baird dropped their price target on MongoDB from $450.00 to $305.00 and set an “outperform” rating for the company in a research report on Friday, May 31st. Royal Bank of Canada reiterated an “outperform” rating and issued a $350.00 price objective on shares of MongoDB in a research report on Friday, August 30th. JMP Securities restated a “market outperform” rating and set a $380.00 target price on shares of MongoDB in a report on Friday, August 30th. Finally, Citigroup lifted their target price on shares of MongoDB from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, MongoDB currently has an average rating of “Moderate Buy” and an average target price of $337.56.
Check Out Our Latest Stock Analysis on MDB
Insider Buying and Selling at MongoDB
In other news, Director Hope F. Cochran sold 1,174 shares of the stock in a transaction on Monday, June 17th. The shares were sold at an average price of $224.38, for a total value of $263,422.12. Following the completion of the sale, the director now owns 13,011 shares of the company’s stock, valued at $2,919,408.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Hope F. Cochran sold 1,174 shares of the company’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 completion of the sale, the director now owns 13,011 shares of the company’s stock, valued at $2,919,408.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Dwight A. Merriman sold 1,000 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $245.00, for a total value of $245,000.00. Following the sale, the director now owns 1,146,003 shares in the company, valued at $280,770,735. The disclosure for this sale can be found here. Insiders have sold a total of 32,179 shares of company stock valued at $8,063,279 over the last ninety days. Corporate insiders own 3.60% of the company’s stock.
MongoDB Stock Down 2.8 %
Shares of MDB opened at $281.88 on Friday. The firm has a market cap of $20.68 billion, a PE ratio of -100.31 and a beta of 1.15. The company has a quick ratio of 4.93, a current ratio of 4.93 and a debt-to-equity ratio of 0.90. The company’s fifty day moving average is $253.05 and its two-hundred day moving average is $309.52. MongoDB, Inc. has a fifty-two week low of $212.74 and a fifty-two week high of $509.62.
MongoDB (NASDAQ:MDB – Get Free Report) last issued its earnings results on Thursday, August 29th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.21. The firm had revenue of $478.11 million for the quarter, compared to analysts’ expectations of $465.03 million. MongoDB had a negative return on equity of 15.95% and a negative net margin of 12.08%. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.63) earnings per share. Analysts forecast that MongoDB, Inc. will post -2.67 earnings per share for the current year.
MongoDB Company 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.
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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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TD Asset Management Inc increased its stake in MongoDB, Inc. (NASDAQ:MDB – Free Report) by 13.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 108,206 shares of the company’s stock after acquiring an additional 12,554 shares during the period. TD Asset Management Inc owned about 0.15% of MongoDB worth $27,047,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of MongoDB in the fourth quarter worth approximately $326,237,000. Jennison Associates LLC grew its stake in MongoDB by 14.3% during the first quarter. Jennison Associates LLC now owns 4,408,424 shares of the company’s stock valued at $1,581,037,000 after acquiring an additional 551,567 shares in the last quarter. Swedbank AB grew its holdings in shares of MongoDB by 156.3% in the second quarter. Swedbank AB now owns 656,993 shares of the company’s stock valued at $164,222,000 after purchasing an additional 400,705 shares in the last quarter. Axiom Investors LLC DE bought a new stake in MongoDB during the fourth quarter worth approximately $153,990,000. Finally, Clearbridge Investments LLC grew its holdings in MongoDB by 109.0% during the 1st quarter. Clearbridge Investments LLC now owns 445,084 shares of the company’s stock valued at $159,625,000 after purchasing an additional 232,101 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have recently commented on the company. Guggenheim raised MongoDB from a “sell” rating to a “neutral” rating in a research report on Monday, June 3rd. Citigroup boosted their target price on shares of MongoDB from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $350.00 price target on shares of MongoDB in a report on Friday, August 30th. Morgan Stanley upped their price target on MongoDB from $320.00 to $340.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Finally, Robert W. Baird dropped their price objective on MongoDB from $450.00 to $305.00 and set an “outperform” rating for the company in a research note on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, MongoDB has a consensus rating of “Moderate Buy” and an average price target of $337.56.
Get Our Latest Stock Report on MDB
MongoDB Stock Down 2.8 %
Shares of NASDAQ:MDB traded down $8.00 during trading on Friday, hitting $281.88. The stock had a trading volume of 1,450,631 shares, compared to its average volume of 1,517,015. The company has a quick ratio of 4.93, a current ratio of 4.93 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $20.68 billion, a PE ratio of -100.31 and a beta of 1.15. The firm’s fifty day moving average is $253.05 and its 200 day moving average is $309.52. MongoDB, Inc. has a 12 month low of $212.74 and a 12 month high of $509.62.
MongoDB (NASDAQ:MDB – Get Free Report) last released its quarterly earnings data on Thursday, August 29th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.21. MongoDB had a negative return on equity of 15.95% and a negative net margin of 12.08%. The business had revenue of $478.11 million for the quarter, compared to analysts’ expectations of $465.03 million. During the same period in the prior year, the firm posted ($0.63) EPS. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. Analysts anticipate that MongoDB, Inc. will post -2.67 EPS for the current fiscal year.
Insider Buying and Selling at MongoDB
In other MongoDB news, CAO Thomas Bull sold 138 shares of the company’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 transaction of $36,610.02. Following the completion of the sale, the chief accounting officer now directly owns 17,222 shares of the company’s stock, valued at $4,568,824.38. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CAO Thomas Bull sold 138 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $265.29, for a total transaction of $36,610.02. Following the completion of the transaction, the chief accounting officer now directly owns 17,222 shares of the company’s stock, valued at $4,568,824.38. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Michael Lawrence Gordon sold 1,569 shares of MongoDB stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $265.29, for a total transaction of $416,240.01. Following the transaction, the chief financial officer now directly owns 81,942 shares of the company’s stock, valued at $21,738,393.18. The disclosure for this sale can be found here. Insiders sold a total of 32,179 shares of company stock worth $8,063,279 in the last three months. 3.60% of the stock is currently 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.
Further Reading
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Levi & Korsinsky Reminds MongoDB, Inc. Investors of the Pending Class Action Lawsuit with …
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Posted on mongodb google news. Visit mongodb google news
NEW YORK, NY / ACCESSWIRE / September 7, 2024 / If you suffered a loss on your MongoDB, Inc. (NASDAQ:MDB) investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information:
https://zlk.com/pslra-1/mongodb-inc-lawsuit-submission-form?prid=100938&wire=1
or contact Joseph E. Levi, Esq. via email at [email protected] or call (212) 363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: A class action securities lawsuit was filed against MongoDB, Inc. that seeks to recover losses of shareholders who were adversely affected by alleged securities fraud between August 31, 2023 and May 30, 2024.
CASE DETAILS: According to the complaint, on March 7, 2024, MongoDB reported strong Q4 2024 results and then announced lower than expected full-year guidance for 2025. MongoDB attributed it to the Company’s 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 price fell by $28.59 per share to close at $383.42 per share.
Later, 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 if changes made to the Company’s marketing strategy “led to change in customer behavior and usage patterns.”
Following this news, MongoDB’s stock price fell by $73.94 per share to close at $236.06 per share.
WHAT’S NEXT? If you suffered a loss in MongoDB stock during the relevant time frame – even if you still hold your shares – go to https://zlk.com/pslra-1/mongodb-inc-lawsuit-submission-form?prid=100938&wire=1 to learn about your rights to seek a recovery. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
https://zlk.com/
SOURCE: Levi & Korsinsky, LLP
Article originally posted on mongodb google news. Visit mongodb google news
MMS • Renato Losio
Article originally posted on InfoQ. Visit InfoQ
Amazon has recently announced that AWS CodeBuild, its managed build service, now supports building applications on macOS. However, due to Apple’s licensing requirements, developers must still reserve a dedicated macOS fleet to utilize this new option.
Building, testing, signing, and distributing applications for Apple systems (iOS, iPadOS, watchOS, tvOS, and macOS) require the use of Xcode, which runs exclusively on macOS. Although running CI/CD pipelines on Mac instances has always been possible, managing and automating macOS machines has presented various challenges in the fast. Sébastien Stormacq, Principal Developer Advocate at AWS, writes:
The first is to prepare the Amazon Machine Image (AMI) with all the required tools for the build. A minimum build environment requires Xcode, but it is very common to install Fastlane (and Ruby), as well as other build or development tools and libraries. Most organizations require multiple build environments for multiple combinations of macOS and Xcode versions.
AWS CodeBuild is a continuous integration service that provides prepackaged build environments for popular programming languages and tools like Apache Maven and Gradle. It compiles source code, runs unit tests, and produces artifacts. The new CodeBuild images for Mac builds come with macOS and Xcode pre-installed and support a variety of tools and frameworks, including Java, Kotlin, Node.js, Python, Ruby, Rust, and Swift.
CodeBuild for macOS utilizes reserved fleets, leveraging the reserved capacity feature introduced earlier this year, which is designed for building and testing in latency-sensitive scenarios. The service builds artifacts on Apple M2 instances running macOS 14 Sonoma. Stormacq explains the second major challenge that Mac builds on AWS CodeBuild addresses:
Large organizations typically have hundreds or thousands of builds per day, requiring dozens of build machines. Scaling in and out of that fleet helps to save on costs. EC2 Mac instances are reserved for your dedicated use. One instance is allocated to one dedicated host. Scaling a fleet of dedicated hosts requires a specific configuration.
Unlike on-demand fleets, where customers pay per minute of build time, reserved fleets are charged for the entire duration that the build machines are reserved for exclusive use, even when no builds are running. The capacity reservation adheres to Amazon EC2 Mac’s 24-hour minimum allocation period, as required by the SLA for macOS. Piero Bozzolo, cloud engineer and serverless developer at Claranet, comments:
For teams or developers with low build frequency (just a few dozen builds a month), this might not be cost-effective. I sincerely hope that Apple will consider and remove the 24-hour minimum lease for their OSs.
According to the AWS documentation, preparing an EC2 Mac instance takes 8-10 minutes. While this isn’t specific to CodeBuild, any builds submitted during this preparation time are queued and will be run in order as soon as the machine becomes available.
Mac builds are currently available in only five regions: Ohio, Northern Virginia, Oregon, Frankfurt, and Sydney.