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MongoDB (NASDAQ:MDB – Get Free Report) updated its fourth quarter 2024 earnings guidance on Monday. The company provided earnings per share guidance of 0.440-0.460 for the period, compared to the consensus earnings per share estimate of 0.370. The company issued revenue guidance of $429.0 million-$433.0 million, compared to the consensus revenue estimate of $413.9 million. MongoDB also updated its FY 2024 guidance to 2.890-2.910 EPS.
Analyst Upgrades and Downgrades
MDB has been the subject of several recent analyst reports. UBS Group raised their price objective on shares of MongoDB from $425.00 to $465.00 and gave the company a buy rating in a research note on Friday, September 1st. Citigroup lifted their price target on shares of MongoDB from $430.00 to $455.00 and gave the company a buy rating in a research report on Monday, August 28th. Bank of America assumed coverage on MongoDB in a report on Thursday, October 12th. They issued a buy rating and a $450.00 price target on the stock. Scotiabank initiated coverage on MongoDB in a report on Tuesday, October 10th. They set a sector perform rating and a $335.00 price objective for the company. Finally, Guggenheim upped their target price on MongoDB from $220.00 to $250.00 and gave the company a sell rating in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat, MongoDB currently has an average rating of Moderate Buy and an average price target of $432.44.
Get Our Latest Report on MongoDB
MongoDB Price Performance
MDB traded up $13.60 on Monday, reaching $395.39. The company’s stock had a trading volume of 2,968,921 shares, compared to its average volume of 1,616,032. MongoDB has a 1 year low of $164.59 and a 1 year high of $442.84. The business’s 50 day moving average is $371.27 and its 200 day moving average is $373.82. The company has a current ratio of 4.48, a quick ratio of 4.48 and a debt-to-equity ratio of 1.29.
MongoDB (NASDAQ:MDB – Get Free Report) last released its earnings results on Tuesday, December 5th. The company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.51 by $0.45. The company had revenue of $432.94 million during the quarter, compared to analysts’ expectations of $406.33 million. MongoDB had a negative return on equity of 21.68% and a negative net margin of 11.70%. The business’s revenue was up 29.8% on a year-over-year basis. During the same period in the prior year, the business posted ($1.23) EPS. Research analysts anticipate that MongoDB will post -1.64 EPS for the current fiscal year.
Insider Buying and Selling
In related news, CFO Michael Lawrence Gordon sold 7,577 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $410.03, for a total transaction of $3,106,797.31. Following the sale, the chief financial officer now directly owns 89,027 shares of the company’s stock, valued at approximately $36,503,740.81. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Dev Ittycheria sold 100,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $375.00, for a total transaction of $37,687,500.00. Following the completion of the transaction, the chief executive officer now directly owns 214,177 shares of the company’s stock, valued at $80,316,375. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael Lawrence Gordon sold 7,577 shares of the company’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $410.03, for a total transaction of $3,106,797.31. Following the transaction, the chief financial officer now owns 89,027 shares of the company’s stock, valued at approximately $36,503,740.81. The disclosure for this sale can be found here. Over the last three months, insiders sold 305,511 shares of company stock worth $108,766,329. Corporate insiders own 4.80% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of MDB. Penserra Capital Management LLC grew its stake in shares of MongoDB by 23.3% in the first quarter. Penserra Capital Management LLC now owns 546 shares of the company’s stock worth $241,000 after purchasing an additional 103 shares in the last quarter. Cetera Advisor Networks LLC grew its position in MongoDB by 7.4% in the 2nd quarter. Cetera Advisor Networks LLC now owns 860 shares of the company’s stock valued at $223,000 after buying an additional 59 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its stake in MongoDB by 32.0% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 834 shares of the company’s stock valued at $216,000 after buying an additional 202 shares during the period. Shay Capital LLC bought a new stake in shares of MongoDB during the 1st quarter worth about $200,000. Finally, Belpointe Asset Management LLC increased its stake in shares of MongoDB by 1,196.9% during the first quarter. Belpointe Asset Management LLC now owns 830 shares of the company’s stock valued at $193,000 after acquiring an additional 766 shares during the period. 88.89% of the stock is owned by institutional investors and hedge funds.
About MongoDB
MongoDB, Inc provides general purpose database platform worldwide. The company offers MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.
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