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MongoDB, Inc. (NASDAQ:MDB – Get Free Report) gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $199.73, but opened at $234.75. MongoDB shares last traded at $230.10, with a volume of 4,591,922 shares.
The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.35. The business had revenue of $549.01 million for the quarter, compared to analyst estimates of $527.49 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company’s revenue was up 21.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.51 EPS.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the company. Piper Sandler boosted their price objective on MongoDB from $200.00 to $275.00 and gave the company an “overweight” rating in a research report on Thursday. Cantor Fitzgerald boosted their price objective on MongoDB from $252.00 to $271.00 and gave the company an “overweight” rating in a research report on Thursday. Daiwa America upgraded MongoDB to a “strong-buy” rating in a research report on Tuesday, April 1st. Robert W. Baird reduced their price objective on MongoDB from $390.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Finally, Rosenblatt Securities reduced their price objective on MongoDB from $305.00 to $290.00 and set a “buy” rating for the company in a research report on Thursday. Eight equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $282.00.
Insider Transactions at MongoDB
In related news, CAO Thomas Bull sold 301 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $173.25, for a total transaction of $52,148.25. Following the transaction, the chief accounting officer now directly owns 14,598 shares of the company’s stock, valued at approximately $2,529,103.50. The trade was a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Hope F. Cochran sold 1,175 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $174.69, for a total value of $205,260.75. Following the transaction, the director now directly owns 19,333 shares in the company, valued at $3,377,281.77. The trade was a 5.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,203 shares of company stock valued at $3,848,569 over the last three months. Company insiders own 3.10% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of MDB. Jericho Capital Asset Management L.P. purchased a new position in MongoDB in the first quarter valued at about $161,543,000. Norges Bank acquired a new position in shares of MongoDB during the 4th quarter worth about $189,584,000. Primecap Management Co. CA lifted its position in shares of MongoDB by 863.5% during the 1st quarter. Primecap Management Co. CA now owns 870,550 shares of the company’s stock worth $152,694,000 after purchasing an additional 780,200 shares during the last quarter. Westfield Capital Management Co. LP acquired a new position in shares of MongoDB during the 1st quarter worth about $128,706,000. Finally, Vanguard Group Inc. raised its holdings in MongoDB by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 7,809,768 shares of the company’s stock valued at $1,369,833,000 after acquiring an additional 481,023 shares in the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.
MongoDB Trading Up 12.8%
The firm has a fifty day simple moving average of $175.65 and a 200 day simple moving average of $230.40. The stock has a market cap of $18.30 billion, a price-to-earnings ratio of -82.26 and a beta of 1.40.
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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