Month: October 2024

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Wrapping up Q2 earnings, we look at the numbers and key takeaways for the data storage stocks, including MongoDB (NASDAQ:MDB) and its peers.

Data is the lifeblood of the internet and software in general, and the amount of data created is accelerating. As a result, the importance of storing the data in scalable and efficient formats continues to rise, especially as its diversity and associated use cases expand from analyzing simple, structured datasets to high-scale processing of unstructured data such as images, audio, and video.

The 5 data storage stocks we track reported a strong Q2. As a group, revenues beat analysts’ consensus estimates by 2.5% while next quarter’s revenue guidance was 1.3% above.

Inflation progressed towards the Fed’s 2% goal recently, leading the Fed to reduce its policy rate by 50bps (half a percent or 0.5%) in September 2024. This is the first cut in four years. While CPI (inflation) readings have been supportive lately, employment measures have bordered on worrisome. The markets will be debating whether this rate cut’s timing (and more potential ones in 2024 and 2025) is ideal for supporting the economy or a bit too late for a macro that has already cooled too much.

Luckily, data storage stocks have performed well with share prices up 11% on average since the latest earnings results.

MongoDB (NASDAQ:MDB)

Started in 2007 by the team behind Google’s ad platform, DoubleClick, MongoDB offers database-as-a-service that helps companies store large volumes of semi-structured data.

MongoDB reported revenues of $478.1 million, up 12.8% year on year. This print exceeded analysts’ expectations by 3%. Overall, it was a very strong quarter for the company with an impressive beat of analysts’ billings estimates and full-year revenue guidance exceeding analysts’ expectations.

“MongoDB delivered healthy second quarter results, highlighted by strong new workload acquisition and better-than-expected Atlas consumption trends. Our continued success in winning new workloads demonstrates the critical role MongoDB’s platform plays in modern application development,” said Dev Ittycheria, President and Chief Executive Officer of MongoDB.

MongoDB delivered the slowest revenue growth of the whole group. The company added 52 enterprise customers paying more than $100,000 annually to reach a total of 2,189. Interestingly, the stock is up 12.7% since reporting and currently trades at $277.

Is now the time to buy MongoDB? Access our full analysis of the earnings results here, it’s free.

Best Q2: Commvault Systems (NASDAQ:CVLT)

Originally formed in 1988 as part of Bell Labs, Commvault (NASDAQ: CVLT) provides enterprise software used for data backup and recovery, cloud and infrastructure management, retention, and compliance.

Commvault Systems reported revenues of $224.7 million, up 13.4% year on year, outperforming analysts’ expectations by 4.2%. The business had an exceptional quarter with an impressive beat of analysts’ billings estimates and full-year revenue guidance exceeding analysts’ expectations.

Commvault Systems achieved the biggest analyst estimates beat among its peers. The market seems happy with the results as the stock is up 18.6% since reporting. It currently trades at $146.23.

Is now the time to buy Commvault Systems? Access our full analysis of the earnings results here, it’s free.

Weakest Q2: Snowflake (NYSE:SNOW)

Founded in 2013 by three French engineers who spent decades working for Oracle, Snowflake (NYSE:SNOW) provides a data warehouse-as-a-service in the cloud that allows companies to store large amounts of data and analyze it in real time.

Snowflake reported revenues of $868.8 million, up 28.9% year on year, exceeding analysts’ expectations by 2.1%. Still, it was a slower quarter as it posted a miss of analysts’ billings estimates.

As expected, the stock is down 11.6% since the results and currently trades at $119.45.

Read our full analysis of Snowflake’s results here.

Couchbase (NASDAQ:BASE)

Formed in 2011 with the merger of Membase and CouchOne, Couchbase (NASDAQ:BASE) is a database-as-a-service platform that allows enterprises to store large volumes of semi-structured data.

Couchbase reported revenues of $51.59 million, up 19.6% year on year. This number was in line with analysts’ expectations. Zooming out, it was a mixed quarter as it also produced full-year revenue guidance exceeding analysts’ expectations but a miss of analysts’ billings estimates.

Couchbase had the weakest performance against analyst estimates and weakest full-year guidance update among its peers. The stock is down 14.4% since reporting and currently trades at $16.25.

Read our full, actionable report on Couchbase here, it’s free.

DigitalOcean (NYSE:DOCN)

Started by brothers Ben and Moisey Uretsky, DigitalOcean (NYSE: DOCN) provides a simple, low-cost platform that allows developers and small and medium-sized businesses to host applications and data in the cloud.

DigitalOcean reported revenues of $192.5 million, up 13.3% year on year. This number surpassed analysts’ expectations by 2%. Overall, it was a very strong quarter as it also recorded full-year revenue guidance exceeding analysts’ expectations and a solid beat of analysts’ ARR (annual recurring revenue) estimates.

DigitalOcean achieved the highest full-year guidance raise among its peers. The stock is up 49.7% since reporting and currently trades at $43.55.

Read our full, actionable report on DigitalOcean here, it’s free.

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Article originally posted on InfoQ. Visit InfoQ

A sustainable mindset in software engineering matters because software is still primarily built by humans, and we must prioritize their well-being, Marion Løken said at NDC Oslo. Integrating the team more deeply into discovery work, discussing feedback collectively, and fostering a culture of psychological safety, helped to engage her team and mitigate burnout.

A sustainable mindset in software engineering focuses on efficient resource use and thoughtful development practices, Løken said. Resources, in this context, include computational power, time, and human effort. This means both building the right things and building things right, she added.

Løken mentioned that an unsustainable workload, lack of control over delivery, and absence of fulfillment and reward can lead to burnout:

By fostering a sustainable mindset, we ensure that our teams are productive, motivated, and able to maintain a high standard of work over the long term.

Having a dual role as an engineering manager and product manager allowed Løken to utilize processes to their full potential:

I had a unique vantage point to rethink our processes to benefit both our products and our people.

One effective approach was integrating the team more deeply into discovery work and early prototyping with our customers. Typically, this involves just the PM and UX, but to create great products and enhance the team’s connection to their users and work, we involved the entire team, Løken said.

She prioritized discussing feedback collectively to ensure everyone felt invested and engaged. Their feedback sources included user testing, feedback forms in our tools, and input from internal teams in sales and marketing. This not only improved their products, but also helped mitigate burnout.

None of the changes we implemented would have been possible without psychological safety and the team taking full ownership, Løken said. Fostering a culture of psychological safety and trust, along with meaningful connections, requires deliberate effort. Understanding each other’s roles, values, and preferences is essential. This process takes time but can be accelerated through specific actions. Løken gave an example:

As a leader, I need to prove to the team that I mean what I preach and demonstrate support, acknowledge that mistakes are a part of the learning process, and remove barriers to speaking up. By modeling these behaviors, I aim to create an environment where everyone feels safe to express their ideas and concerns.

Over the past year, I’ve seen many people burn out, Løken said. While mental health discussions are becoming more open, burnout feels more prevalent now:

We’re not alone in facing the challenge of having more to do with fewer resources. The return to the office has also added to the workforce’s stress, making it more important than ever to build stress buffers.

Løken suggested taking time to rethink how to get things done in a smarter way rather than just pushing harder. Even if burnout isn’t a concern, this approach ensures a more sustainable and effective way of working, she concluded.

InfoQ interviewed Marion Løken about burnout and psychological safety.

InfoQ: What approach did you take to deal with potential burnout in the company?

Marion Løken: Burnout is a significant risk in our industry, characterized by feelings of exhaustion, low productivity, and disconnection from work. To combat this, we focused on three key parameters: control over workload, connection to the work, and recognition for achievements.

By implementing an OKR process, we ensured the team had clear expectations on what we would deliver and what we wouldn’t, preventing scope creep and workload overflow. While processes can often seem boring, when used correctly, they can be powerful tools. Discussing feedback collectively made tasks more meaningful, increasing motivation and engagement.

Recognizing the team’s efforts and successes through short internal articles about releases, sharing external feedback, and buying the team ice cream provided a sense of accomplishment and appreciation, essential for maintaining morale and long-term productivity.

InfoQ: What have you done to foster a culture of psychological safety and trust for your people?

Løken: We achieved this through both structured activities and informal interactions. Activities like a team canvas, talking about values in a workshop, and retrospectives helped us understand each other better. Additionally, we started playing short games once a week.

Play is an effective way of practising good habits—like giving feedback, embracing diverse perspectives, and maintaining a growth mindset—in a low-risk context. Over time, these practices became more natural in our work environment. This combination of structured and informal efforts helped build a strong foundation of psychological safety and trust within the team.

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Cloud Database and DBaaS Market

The latest research study released by HTF MI on Global Cloud Database and DBaaS Market with 143+ pages of analysis on business Strategy taken up by key and emerging industry players and delivers know-how of the current market development, landscape, sales, drivers, opportunities, market viewpoint and status. Cloud Database and DBaaS market study is a perfect mix of qualitative and quantitative Market data collected and validated majorly through primary data and secondary sources.
Key Players in This Report Include:
Microsoft Azure, AWS (Amazon), Google Cloud, Oracle, IBM, Alibaba Cloud, MongoDB, SAP, Teradata, Redis Labs, Couchbase, DataStax, Snowflake, ArangoDB, MariaDB, InfluxDB, SingleStore, Neo4j, Citus Data, YugabyteDB

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According to HTF Market Intelligence, the Global Cloud Database and DBaaS market is expected to grow from 14 billion USD in 2023 to 50 billion USD by 2032, with a CAGR of 21% from 2024 to 2032. The Cloud Database and DBaaS market is segmented by Types (SQL, NoSQL, Hybrid, Distributed, Multi-cloud), Application (Banking, Retail, Healthcare, Manufacturing, Government) and by Geography (North America, LATAM, West Europe, Central & Eastern Europe, Northern Europe, Southern Europe, East Asia, Southeast Asia, South Asia, Central Asia, Oceania, MEA).

Definition:
Cloud Database is a service that allows users to store and manage data in a cloud environment, providing scalable and flexible database solutions without the need for on-premises infrastructure.

Dominating Region:
• North America, Europe, Asia

Fastest-Growing Region:
• Cloud Database and DBaaS

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The titled segments and sub-section of the market are illuminated below:
In-depth analysis of Cloud Database and DBaaS segments by Types: SQL, NoSQL, Hybrid, Distributed, Multi-cloud
Detailed analysis of Cloud Database and DBaaS segments by Applications: Banking, Retail, Healthcare, Manufacturing, Government

Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:
• The Middle East and Africa (South Africa, Saudi Arabia, UAE, Israel, Egypt, etc.)
• North America (United States, Mexico & Canada)
• South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.)
• Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.)
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Cloud Database and DBaaS Research Objectives:
– Focuses on the key manufacturers, to define, pronounce and examine the value, sales volume, market share, market competition landscape, SWOT analysis, and development plans in the next few years.
– To share comprehensive information about the key factors influencing the growth of the market (opportunities, drivers, growth potential, industry-specific challenges and risks).
– To analyze the with respect to individual future prospects, growth trends and their involvement to the total market.
– To analyze reasonable developments such as agreements, expansions new product launches, and acquisitions in the market.
– To deliberately profile the key players and systematically examine their growth strategies.

FIVE FORCES & PESTLE ANALYSIS:
In order to better understand market conditions five forces analysis is conducted that includes the Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry.
• Political (Political policy and stability as well as trade, fiscal, and taxation policies)
• Economical (Interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates)
• Social (Changing family demographics, education levels, cultural trends, attitude changes, and changes in lifestyles)
• Technological (Changes in digital or mobile technology, automation, research, and development)
• Legal (Employment legislation, consumer law, health, and safety, international as well as trade regulation and restrictions)
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Points Covered in Table of Content of Global Cloud Database and DBaaS Market:
Chapter 01 – Cloud Database and DBaaS Executive Summary
Chapter 02 – Cloud Database and DBaaS Overview
Chapter 03 – Key Success Factors
Chapter 04 – Global Cloud Database and DBaaS – Pricing Analysis
Chapter 05 – Global Cloud Database and DBaaS Background or History
Chapter 06 – Global Cloud Database and DBaaS Segmentation (e.g. Type, Application)
Chapter 07 – Key and Emerging Countries Analysis Worldwide Cloud Database and DBaaS Market
Chapter 08 – Global Cloud Database and DBaaS Structure & worth Analysis
Chapter 09 – Global Cloud Database and DBaaS Competitive Analysis & Challenges
Chapter 10 – Assumptions and Acronyms
Chapter 11 – Cloud Database and DBaaS Research Methodology

Thanks for reading this article; you can also get individual chapter-wise sections or region-wise report versions like North America, LATAM, Europe, Japan, Australia or Southeast Asia.

Contact Us:
Nidhi Bhavsar (PR & Marketing Manager)
HTF Market Intelligence Consulting Private Limited
Phone: +15075562445
sales@htfmarketreport.com

About Author:
HTF Market Intelligence Consulting is uniquely positioned to empower and inspire with research and consulting services to empower businesses with growth strategies, by offering services with extraordinary depth and breadth of thought leadership, research, tools, events, and experience that assist in decision-making.

This release was published on openPR.

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

Posted on mongodb google news. Visit mongodb google news

MongoDB Queryable Encryption allows customers to securely encrypt sensitive application data and store it in an encrypted format within the MongoDB database. It also enables direct equality and range queries on the encrypted data without the need for cryptographic expertise. Adding range query support expands data retrieval options, allowing for more powerful search capabilities.

You can configure Queryable Encryption using the following methods:

• Automatic encryption: Allows encrypted read and write operations to be performed seamlessly, without requiring explicit encryption and decryption commands for individual fields.
• Explicit encryption: Offers the ability to perform encrypted read and write operations through the encryption library of your MongoDB driver, where you must define the encryption logic throughout your application.

“We’ve heard from customers that they need state-of-the-art security to protect their sensitive data, but not all of them have the specialized expertise to implement it. With MongoDB Queryable Encryption, we’re delivering just that—Queryable Encryption makes it easier for organizations to protect their data without compromising performance or compliance. The addition of range query support to MongoDB Queryable Encryption provides even more flexibility and powerful search capabilities, while ensuring encrypted data remains safe through its entire lifecycle. Queryable Encryption enables developers to perform expressive queries on fully encrypted data, helping customers across industries effectively manage sensitive information while retaining business-critical querying capabilities,” Kenn White, Security Principal, MongoDB, told Help Net Security.

Organizations across all industries and sizes can leverage the benefits of Queryable Encryption, including:

• Data protection: Ensures data remains encrypted throughout its lifecycle, minimizing the risk of exposure or breaches of sensitive information.
• Regulatory compliance: Provides the tools needed to meet data protection requirements, such as GDPR, CCPA, and HIPAA, through encryption at every stage.
• Streamlined operations: Simplifies the encryption process, eliminating the need for custom solutions, specialized cryptography expertise, or third-party tools.
• Separation of duties: Enables stricter access controls by preventing MongoDB and even customers’ database administrators from accessing sensitive data.

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

Posted on mongodb google news. Visit mongodb google news

MongoDB, Inc. (NASDAQ:MDB – Get Free Report) was the target of some unusual options trading activity on Wednesday. Traders acquired 23,831 put options on the company. This is an increase of approximately 2,157% compared to the average daily volume of 1,056 put options.

Analyst Ratings Changes

MDB has been the topic of a number of research analyst reports. Oppenheimer lifted their target price on MongoDB from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Tigress Financial decreased their target price on MongoDB from $500.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, July 11th. JMP Securities reissued a “market outperform” rating and set a $380.00 target price on shares of MongoDB in a research report on Friday, August 30th. Bank of America lifted their price target on shares of MongoDB from $300.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Finally, Stifel Nicolaus increased their price objective on shares of MongoDB from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $337.96.

View Our Latest Stock Report on MDB

MongoDB Stock Down 2.6 %

Shares of MongoDB stock traded down $7.33 during trading on Thursday, reaching $271.06. The company had a trading volume of 3,811,677 shares, compared to its average volume of 1,456,052. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.03 and a current ratio of 5.03. MongoDB has a fifty-two week low of $212.74 and a fifty-two week high of $509.62. The firm’s fifty day moving average is $268.79 and its 200-day moving average is $286.09. The company has a market cap of $19.88 billion, a price-to-earnings ratio of -99.07 and a beta of 1.15.

MongoDB (NASDAQ:MDB – Get Free Report) last announced 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. 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 15.06% and a negative net margin of 12.08%. MongoDB’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.63) earnings per share. On average, analysts anticipate that MongoDB will post -2.44 EPS for the current year.

Insider Activity

In other news, Director Dwight A. Merriman sold 1,000 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $290.40, for a total transaction of $290,400.00. Following the sale, the director now owns 1,138,006 shares in the company, valued at $330,476,942.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Michael Lawrence Gordon sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $290.31, for a total value of $1,451,550.00. Following the completion of the sale, the chief financial officer now directly owns 80,307 shares in the company, valued at approximately $23,313,925.17. The trade was a 0.00 % decrease in their ownership of the stock. The transaction 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 1,000 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $290.40, for a total transaction of $290,400.00. Following the transaction, the director now directly owns 1,138,006 shares in the company, valued at approximately $330,476,942.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,281 shares of company stock valued at $6,310,411 over the last 90 days. Insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

Several institutional investors have recently added to or reduced their stakes in MDB. Advisors Asset Management Inc. lifted its holdings in shares of MongoDB by 12.9% in the 1st quarter. Advisors Asset Management Inc. now owns 324 shares of the company’s stock worth $116,000 after purchasing an additional 37 shares during the last quarter. Atria Investments Inc grew its position in shares of MongoDB by 1.2% during the first quarter. Atria Investments Inc now owns 3,259 shares of the company’s stock worth $1,169,000 after acquiring an additional 39 shares during the last quarter. Taylor Frigon Capital Management LLC increased its holdings in shares of MongoDB by 0.4% in the 2nd quarter. Taylor Frigon Capital Management LLC now owns 9,903 shares of the company’s stock worth $2,475,000 after acquiring an additional 42 shares during the period. Fifth Third Bancorp lifted its position in MongoDB by 7.6% in the 2nd quarter. Fifth Third Bancorp now owns 620 shares of the company’s stock valued at $155,000 after purchasing an additional 44 shares during the last quarter. Finally, Moody National Bank Trust Division boosted its stake in MongoDB by 3.2% during the 1st quarter. Moody National Bank Trust Division now owns 1,492 shares of the company’s stock valued at $535,000 after purchasing an additional 46 shares during the period. Institutional investors own 89.29% of the company’s stock.

About MongoDB

(Get Free Report)

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

Posted on mongodb google news. Visit mongodb google news

NEW YORK – MongoDB , Inc. (NASDAQ:MDB), a leader in prepackaged software services, announced today the redemption of all its outstanding 0.25% Convertible Senior Notes due in 2026. The total principal amount of the notes to be redeemed is $1,149,972,000. This action is in accordance with the terms set forth in the Indenture agreement dated January 14, 2020, with U.S. Bank Trust Company, National Association, as Trustee.

The company has scheduled the redemption for December 16, 2024, at which point holders of the notes will receive 100% of the principal amount plus accrued and unpaid interest from July 15, 2024, up to but not including the redemption date. Interest on the notes will cease to accrue following the redemption date.

Noteholders have the option to convert their notes into shares of MongoDB’s Common Stock at any time before the conversion deadline at 5:00 p.m. (New York City time) on December 13, 2024. The conversion rate has been set at 4.9260 shares of Common Stock per $1,000 principal amount of the notes. This rate includes an additional 0.1911 shares per $1,000 principal as a result of the redemption call. The conversion rate is subject to adjustment in certain circumstances as described in the Indenture.

MongoDB has elected to settle conversions with shares of its Common Stock, along with cash in lieu of any fractional shares, following the issuance of the redemption notice up to the conversion deadline.

This financial maneuver is part of MongoDB’s strategic financial management and is detailed in the company’s latest filing with the Securities and Exchange Commission. The information is based on a press release statement issued by MongoDB, Inc. on Wednesday. Investors and note holders are advised to review the terms of the redemption and conversion options as they make their financial decisions regarding the company’s notes.

In other recent news, MongoDB, a leading database platform, has been the subject of numerous analyst reviews following robust second-quarter earnings. The company reported a 13% year-over-year revenue increase, amounting to $478 million, primarily driven by the success of its Atlas (NYSE:ATCO) and Enterprise Advanced offerings. This impressive performance led to an addition of over 1,500 new customers, bringing MongoDB’s total customer base to over 50,700.

Analysts from DA Davidson, Piper Sandler, and KeyBanc Capital Markets have respectively raised their price targets for MongoDB to $340, $335, and $330, while maintaining their positive ratings. Oppenheimer has also increased its price target to $350, maintaining an Outperform rating. These adjustments reflect the company’s strong performance and the belief in its continued growth.

Looking forward, MongoDB’s management anticipates third-quarter revenue to range between $493 million and $497 million. The full fiscal year 2025 revenue is projected to be between $1.92 billion and $1.93 billion, based on the company’s recent performance and analyst expectations. These recent developments underscore the confidence in MongoDB’s potential and its capacity to maintain a positive growth trajectory.

MongoDB’s decision to redeem its convertible notes aligns with its strong financial position, as highlighted by recent InvestingPro data. The company’s market capitalization stands at $20.55 billion, reflecting its significant presence in the prepackaged software services sector. An InvestingPro Tip reveals that MongoDB holds more cash than debt on its balance sheet, which likely supports its ability to redeem these notes.

Despite the substantial redemption amount of over $1.1 billion, MongoDB’s financial health appears robust. The company’s revenue for the last twelve months as of Q2 2025 reached $1.82 billion, with a notable revenue growth of 22.37% over the same period. This growth trajectory is further supported by another InvestingPro Tip indicating that net income is expected to grow this year.

For investors considering the conversion option, it’s worth noting that MongoDB’s stock has shown resilience with a 10.22% price return over the past three months. However, the company’s high Price / Book multiple of 15.09 suggests that the stock is trading at a premium relative to its book value.

These insights are just a snapshot of the comprehensive analysis available on InvestingPro, which offers 11 additional tips for MongoDB, providing a more complete picture for investors evaluating the company’s financial strategies and market position.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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

Posted on mongodb google news. Visit mongodb google news

NEW YORK, Oct. 16, 2024 /PRNewswire/ — MongoDB, Inc. (“MongoDB”) (Nasdaq: MDB), the leading, modern general purpose database platform, today announced that it issued a notice of redemption for all $1,149,972,000 aggregate principal amount outstanding of its 0.25% convertible senior notes due 2026 (the “Notes”).  The redemption date will be December 16, 2024.  The redemption price with respect to any redeemed note will equal 100% of the principal amount thereof, plus accrued and unpaid interest, from July 15, 2024, to, but excluding the redemption date.  On the redemption date, the redemption price will become due and payable upon each note to be redeemed and interest thereon will cease to accrue on and after the redemption date.

The notes may be converted by holders at any time before 5:00 p.m. (New York City time) on December 13, 2024 (the “conversion deadline”).  The conversion rate for notes converted after today and through the conversion deadline is equal to 4.9260  shares of common stock of MongoDB, par value $0.001 per share (the “Common Stock”), per $1,000 principal amount of the notes, which includes an increase to the conversion rate of 0.1911 shares of Common Stock per $1,000 principal amount of the notes as a result of the notes being called for redemption.  MongoDB has elected to settle any conversions of the notes during the redemption period by delivering shares of its Common Stock, together with cash, if applicable, in lieu of delivering any fractional share of Common Stock (physical settlement).

About MongoDB

Headquartered in New York, MongoDB’s mission is to empower innovators to create, transform, and disrupt industries by unleashing the power of software and data. Built by developers, for developers, MongoDB’s developer data platform is a database with an integrated set of related services that allow development teams to address the growing requirements for today’s wide variety of modern applications, all in a unified and consistent user experience. MongoDB has tens of thousands of customers in over 100 countries. The MongoDB database platform has been downloaded hundreds of millions of times since 2007, and there have been millions of builders trained through MongoDB University courses.

Forward Looking Statements

This press release includes certain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements concerning the planned redemption of the notes. These forward-looking statements include, but are not limited to, plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts and statements identified by words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “project,” “will,” “would” or the negative or plural of these words or similar expressions or variations. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and are subject to a variety of assumptions, uncertainties, risks and factors that are beyond our control including, without limitation: risks associated with executing the redemption of the notes and events that could impact the terms of the redemption, as well as those described in MongoDB’s filings with the United States Securities and Exchange Commission (“SEC”), including under the caption “Risk Factors” in our Quarterly Report on Form 10-Q for the quarter ended July 31, 2024, filed with the SEC on August 30, 2024, and other filings and reports that we may file from time to time with the SEC. Except as required by law, we undertake no duty or obligation to update any forward-looking statements contained in this press release as a result of new information, future events, changes in expectations or otherwise.   

Investor Relations
Brian Denyeau
ICR for MongoDB
646-277-1251
ir@mongodb.com

Media Relations
MongoDB
press@mongodb.com

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SOURCE MongoDB, Inc.

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MongoDB, Inc. (NASDAQ:MDB – Get Free Report) CFO Michael Lawrence Gordon sold 5,000 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $290.31, for a total transaction of $1,451,550.00. Following the transaction, the chief financial officer now owns 80,307 shares in the company, valued at approximately $23,313,925.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Michael Lawrence Gordon also recently made the following trade(s):

• On Wednesday, October 2nd, Michael Lawrence Gordon sold 1,884 shares of MongoDB stock. The shares were sold at an average price of $256.25, for a total value of $482,775.00.

MongoDB Price Performance

NASDAQ MDB traded down $6.27 on Wednesday, reaching $278.39. The company had a trading volume of 675,476 shares, compared to its average volume of 1,444,229. MongoDB, Inc. has a 12 month low of $212.74 and a 12 month high of $509.62. The company has a quick ratio of 5.03, a current ratio of 5.03 and a debt-to-equity ratio of 0.84. The firm’s 50 day moving average price is $267.72 and its 200 day moving average price is $286.14. The stock has a market capitalization of $20.42 billion, a PE ratio of -101.30 and a beta of 1.15.

MongoDB (NASDAQ:MDB – Get Free Report) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.21. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The company had revenue of $478.11 million for the quarter, compared to analysts’ expectations of $465.03 million. During the same quarter in the previous year, the business posted ($0.63) earnings per share. MongoDB’s quarterly revenue was up 12.8% on a year-over-year basis. As a group, equities analysts predict that MongoDB, Inc. will post -2.44 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MDB. MFA Wealth Advisors LLC bought a new position in MongoDB during the second quarter valued at $25,000. Sunbelt Securities Inc. grew its holdings in 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 purchasing an additional 76 shares during the last quarter. J.Safra Asset Management Corp grew its holdings in 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 purchasing an additional 116 shares during the last quarter. Quarry LP raised its position in MongoDB by 2,580.0% in the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after purchasing an additional 129 shares during the period. Finally, Hantz Financial Services Inc. bought a new stake in MongoDB in the second quarter worth about $35,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Wall Street Analysts Forecast Growth

MDB has been the subject of a number of recent analyst reports. Stifel Nicolaus upped their target price on MongoDB from $300.00 to $325.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Citigroup raised their target price on shares of MongoDB from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Mizuho increased their price target on shares of MongoDB from $250.00 to $275.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. UBS Group boosted their price objective on shares of MongoDB from $250.00 to $275.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Finally, Bank of America lifted their price target on MongoDB from $300.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, MongoDB presently has a consensus rating of “Moderate Buy” and an average price target of $337.96.

Read Our Latest Report on MongoDB

MongoDB Company Profile

(Get Free Report)

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

Posted on mongodb google news. Visit mongodb google news

Gordon Michael Lawrence, COO and CFO of MongoDB, sold 5,000 shares of Class A Common Stock on October 14, 2024, under a Rule 10b5-1 trading plan. The sales were executed at weighted average prices ranging from $287.39 to $295.26, resulting in a total sale amount of $1,451,571. Following these transactions, Lawrence directly owns 80,307 shares and indirectly owns 4,000 shares through family members.

SEC Filing: MongoDB, Inc. [ MDB ] – Form 4 – Oct. 16, 2024

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

Posted on mongodb google news. Visit mongodb google news

While major stock market benchmarks – including the S&P 500 Index ($SPX) and the Dow Jones Industrial Average ($DOWI) – are hovering near all-time highs, many individual stocks are still trading at a discount from their own record levels. That includes software stocks, most of which have significantly lagged the broader market this year.

However, for investors willing to “lean into more risk,” here are three underperforming cloud stocks that look like solid long-term investments in October 2024, according to investment bank Piper Sandler. Let’s see why. 

#1. MongoDB Stock

Valued at $20.8 billion by market cap, MongoDB (MDB) provides enterprises with a general-purpose database platform. Its commercial data server can run in the cloud, on-premise, or in a hybrid environment. MongoDB also offers the MongoDB Atlas, a multi-cloud database-as-a-service solution. 

Down 51% from all-time highs, MDB stock has returned 126% to investors in the last five years. 

In fiscal Q2 of 2025 (ended in July), MongoDB reported revenue of $478.1 million, an increase of 13% year over year. The Atlas platform saw sales rise by 27% to $339.7 million, accounting for 71% of the top line. 

With more than $1.3 billion in cash, MongoDB is well capitalized, as the company continues to report a positive free cash flow. In the last 12 months, its free cash flow totaled $149 million, up from $115 million in fiscal 2024. Further, MongoDB increased its customer count from 45,000 to 50,700 in the last four quarters.

Piper Sandler believes that MongoDB is positioned to experience accelerated growth going forward, after hitting a trough in the second quarter. It has an “Overweight” rating on MongoDB, with the target price of $335 indicating an upside potential of over 21% from current levels. 

Out of the 31 analysts covering MDB stock, 22 recommend “strong buy,” three recommend “moderate buy,” five recommend “hold,” and one recommends “strong sell,” for a “strong buy” consensus. The average target price for MDB stock is $334.07, about 21% higher than current levels. 

#2. Adobe Systems Stock

Valued at $224 billion by market cap, Adobe Systems (ADBE) provides digital marketing and media solutions. 

Adobe’s suite of graphic design solutions is already popular among users, and it might gain further traction due to the tech giant’s generative AI model called Firefly. Today, Firefly has created over 12 billion images and will soon launch a version that can be used for video. 

With gross margins of over 90% and a net margin north of 30%, Adobe is highly profitable. However, in the last 12 months, it has reported a free cash flow of $6.55 billion, down from $6.9 billion in 2023, driving the tech stock lower. 

Down 27.4% from all-time highs, Piper Sandler expects ADBE stock to recover its losses in 2024 due to the software company’s AI-powered offerings. In an investor note, the firm wrote, “The new innovation product cycle is underappreciated, and could help reignite growth.” 

Piper Sandler is “Overweight” on Adobe with a target price of $635, indicating an upside potential of 26.5%. 

Out of the 31 analysts covering ADBE stock, 22 recommend “strong buy,” one recommends “moderate buy,” six recommend “hold,” and two recommend “strong sell.” The average target price for ADBE stock is $611, 21.7% higher than the current trading price. 

#3. Salesforce Stock

Finally we have Salesforce (CRM), one of the largest SaaS (software-as-a-service) companies globally. Salesforce stock is valued at $279.4 billion by market cap, and is down 9.5% from record levels.

Salesforce’s revenue has increased from $21.1 billion in fiscal 2021 (which ended in January) to $36.46 billion in the last 12 months. In this period, operating income has grown over 12x from $455 million to $6.95 billion, while free cash flow has widened from $4 billion to $11.46 billion. 

Piper Sandler has an “Overweight” rating on CRM stock with a target price of $325, 12% higher than the current price. It also has a bull-case price target of $405, indicating an upside potential of almost 40%. Piper Sandler explained that Salesforce has outperformed the broader indices in the last three months due to consistent revenue growth and expanding margins. 

Out of the 42 analysts covering CRM stock, 30 recommend “strong buy,” two recommend “moderate buy,” nine recommend “hold,” and one recommends “strong sell.” CRM is now a “strong buy” on Wall Street, up from “moderate buy” one month ago. The average target price for CRM stock is $309.82, about 6.8% higher than the current trading price. 

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