MongoDB (NASDAQ:MDB) Releases Earnings Results, Beats Estimates By $0.48 EPS

MongoDB (NASDAQ:MDB) released its earnings results on Monday. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.48, Briefing.com reports. The business had revenue of $529.40 million for the quarter, compared to analyst estimates of $497.39 million. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. MongoDB’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.96 earnings per share.

MongoDB Stock Up 2.0 %

MDB traded up $6.73 on Monday, hitting $350.13. The company had a trading volume of 6,343,369 shares, compared to its average volume of 1,466,485. MongoDB has a 52-week low of $212.74 and a 52-week high of $509.62. The stock has a fifty day simple moving average of $290.90 and a 200-day simple moving average of $269.20. The company has a debt-to-equity ratio of 0.84, a current ratio of 5.03 and a quick ratio of 5.03. The firm has a market capitalization of $25.86 billion, a P/E ratio of -115.94 and a beta of 1.17.

Insider Activity at MongoDB

In other news, CAO Thomas Bull sold 154 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total transaction of $39,462.50. Following the completion of the transaction, the chief accounting officer now directly owns 16,068 shares in the company, valued at $4,117,425. This trade represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Cedric Pech sold 302 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total transaction of $77,387.50. Following the completion of the transaction, the executive now owns 33,440 shares in the company, valued at approximately $8,569,000. This represents a 0.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,600 shares of company stock worth $7,255,929 over the last ninety days. 3.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

MDB has been the subject of a number of analyst reports. Wells Fargo & Company lifted their price target on MongoDB from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Bank of America boosted their price target on shares of MongoDB from $300.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Scotiabank increased their price objective on shares of MongoDB from $250.00 to $295.00 and gave the company a “sector perform” rating in a research note on Friday, August 30th. Sanford C. Bernstein upped their target price on MongoDB from $358.00 to $360.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Finally, Barclays boosted their price objective on MongoDB from $290.00 to $345.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $345.71.

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.