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MongoDB (NASDAQ:MDB) Issues FY 2023 Earnings Guidance

MongoDB (NASDAQ:MDB - Get Rating) updated its FY 2023 earnings guidance on Wednesday. The company provided EPS guidance of -$0.35--$0.28 for the period, compared to the consensus EPS estimate of -$0.21. The company issued revenue guidance of $1.20 billion-$1.21 billion, compared to the consensus revenue estimate of $1.19 billion. MongoDB also updated its Q3 2023 guidance to -$0.19--$0.16 EPS.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Piper Sandler decreased their price objective on MongoDB from $375.00 to $350.00 and set an overweight rating for the company in a report on Thursday, September 1st. Needham & Company LLC decreased their price objective on MongoDB from $350.00 to $330.00 and set a buy rating for the company in a report on Thursday, September 1st. Morgan Stanley decreased their price objective on MongoDB from $378.00 to $368.00 and set an overweight rating for the company in a report on Thursday, June 2nd. UBS Group decreased their price target on MongoDB from $430.00 to $390.00 and set a buy rating for the company in a report on Thursday, September 1st. Finally, Canaccord Genuity Group increased their price target on MongoDB from $300.00 to $360.00 and gave the stock a buy rating in a report on Thursday, September 1st. One research analyst has rated the stock with a sell rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $386.83.

MongoDB Trading Up 2.5 %


NASDAQ:MDB opened at $194.44 on Wednesday. The stock has a fifty day moving average price of $297.82 and a two-hundred day moving average price of $313.80. The stock has a market capitalization of $13.36 billion, a price-to-earnings ratio of -36.28 and a beta of 0.95. The company has a debt-to-equity ratio of 1.70, a quick ratio of 4.02 and a current ratio of 4.02. MongoDB has a 1 year low of $188.17 and a 1 year high of $590.00.

MongoDB (NASDAQ:MDB - Get Rating) last released its quarterly earnings data on Wednesday, August 31st. The company reported ($1.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.52) by ($0.17). The business had revenue of $303.66 million during the quarter, compared to analysts' expectations of $282.31 million. MongoDB had a negative return on equity of 52.05% and a negative net margin of 33.43%. The company's revenue was up 52.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.15) EPS. As a group, sell-side analysts anticipate that MongoDB will post -5.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Thomas Bull sold 489 shares of the firm's stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $264.45, for a total value of $129,316.05. Following the completion of the transaction, the insider now owns 17,104 shares in the company, valued at $4,523,152.80. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Dwight A. Merriman sold 14,000 shares of the firm's stock in a transaction on Friday, July 1st. The stock was sold at an average price of $263.69, for a total value of $3,691,660.00. Following the completion of the transaction, the director now owns 1,323,542 shares in the company, valued at $349,004,789.98. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Thomas Bull sold 489 shares of the firm's stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $264.45, for a total value of $129,316.05. Following the completion of the transaction, the insider now owns 17,104 shares of the company's stock, valued at approximately $4,523,152.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 69,160 shares of company stock worth $18,741,755. 5.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MDB. Wellington Management Group LLP increased its position in shares of MongoDB by 26.4% in the first quarter. Wellington Management Group LLP now owns 672,545 shares of the company's stock valued at $298,334,000 after buying an additional 140,260 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of MongoDB by 2.1% during the first quarter. Vanguard Group Inc. now owns 5,970,224 shares of the company's stock valued at $2,648,332,000 after acquiring an additional 121,201 shares during the last quarter. Altimeter Capital Management LP boosted its stake in shares of MongoDB by 23.2% during the first quarter. Altimeter Capital Management LP now owns 308,000 shares of the company's stock valued at $136,626,000 after acquiring an additional 58,000 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of MongoDB during the first quarter valued at $24,708,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of MongoDB by 2,441.0% during the first quarter. The Manufacturers Life Insurance Company now owns 38,446 shares of the company's stock valued at $16,561,000 after acquiring an additional 36,933 shares during the last quarter. Hedge funds and other institutional investors own 89.85% of the company's stock.

MongoDB Company Profile

(Get Rating)

MongoDB, Inc provides general purpose database platform worldwide. The company offers MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; 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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Earnings History and Estimates for MongoDB (NASDAQ:MDB)

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