Wall Street brokerages forecast that MongoDB, Inc. (NASDAQ:MDB) will report $241.10 million in sales for the current quarter, Zacks reports. Four analysts have issued estimates for MongoDB's earnings, with the highest sales estimate coming in at $241.70 million and the lowest estimate coming in at $240.50 million. MongoDB posted sales of $171.00 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 41%. The company is expected to report its next earnings results on Tuesday, March 8th.
On average, analysts expect that MongoDB will report full year sales of $848.49 million for the current year, with estimates ranging from $847.80 million to $848.94 million. For the next fiscal year, analysts forecast that the company will post sales of $1.13 billion, with estimates ranging from $1.07 billion to $1.19 billion. Zacks Investment Research's sales averages are an average based on a survey of sell-side analysts that cover MongoDB.
MongoDB (NASDAQ:MDB) last posted its earnings results on Monday, December 6th. The company reported ($0.11) earnings per share for the quarter, topping the Zacks' consensus estimate of ($0.38) by $0.27. MongoDB had a negative return on equity of 101.71% and a negative net margin of 38.32%. The company had revenue of $226.89 million during the quarter, compared to the consensus estimate of $205.18 million. During the same quarter last year, the firm earned ($0.98) earnings per share. The company's revenue was up 50.5% on a year-over-year basis.
MDB has been the topic of a number of recent analyst reports. Credit Suisse Group initiated coverage on MongoDB in a research report on Tuesday, November 16th. They issued an "outperform" rating and a $700.00 price target on the stock. raised their price target on MongoDB from $475.00 to $560.00 and gave the stock a "buy" rating in a research report on Tuesday, December 7th. They noted that the move was a valuation call. Barclays decreased their price target on MongoDB from $590.00 to $556.00 in a research report on Wednesday, January 12th. Citigroup lifted their target price on MongoDB from $526.00 to $660.00 and gave the company a "buy" rating in a research report on Tuesday, December 7th. Finally, The Goldman Sachs Group lifted their target price on MongoDB from $475.00 to $545.00 and gave the company a "buy" rating in a research report on Wednesday, December 8th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $542.13.
In related news, CRO Cedric Pech sold 290 shares of MongoDB stock in a transaction that occurred on Monday, January 3rd. The stock was sold at an average price of $515.05, for a total value of $149,364.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Thomas Bull sold 2,500 shares of MongoDB stock in a transaction that occurred on Wednesday, December 15th. The stock was sold at an average price of $492.13, for a total value of $1,230,325.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 114,506 shares of company stock worth $55,874,990. Company insiders own 7.40% of the company's stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Truist Financial Corp lifted its stake in MongoDB by 22.4% in the third quarter. Truist Financial Corp now owns 3,026 shares of the company's stock valued at $1,427,000 after buying an additional 553 shares during the period. Moody Lynn & Lieberson LLC acquired a new position in MongoDB in the third quarter valued at approximately $2,954,000. Evolutionary Tree Capital Management LLC lifted its stake in MongoDB by 62.1% in the second quarter. Evolutionary Tree Capital Management LLC now owns 10,379 shares of the company's stock valued at $3,752,000 after buying an additional 3,978 shares during the period. Caas Capital Management LP acquired a new position in MongoDB in the second quarter valued at approximately $65,542,000. Finally, BOKF NA acquired a new position in MongoDB in the third quarter valued at approximately $1,099,000. 87.90% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ MDB opened at $373.05 on Friday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 4.75 and a current ratio of 4.75. MongoDB has a 52 week low of $238.01 and a 52 week high of $590.00. The stock has a market capitalization of $24.90 billion, a P/E ratio of -78.87 and a beta of 0.65. The stock's fifty day moving average is $467.86 and its 200 day moving average is $455.64.
MongoDB, Inc engages in the development and provision of a general purpose database platform. The firm's products include MongoDB Enterprise Advanced, MongoDB Atlas and Community Server. It also offers professional services including consulting and training. The company was founded by Eliot Horowitz, Dwight A.
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