Mongodb (MDB) Hits New 52-Week High After Strong Earnings

Mongodb Inc (NASDAQ:MDB) hit a new 52-week high during mid-day trading on Thursday following a better than expected earnings announcement. The stock traded as high as $133.85 and last traded at $133.53, with a volume of 259475 shares changing hands. The stock had previously closed at $104.26.

The company reported ($0.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.20. Mongodb had a negative net margin of 54.74% and a negative return on equity of 54.80%. The business had revenue of $83.10 million during the quarter, compared to the consensus estimate of $74.02 million. During the same quarter in the prior year, the firm earned ($0.40) EPS. The company’s revenue for the quarter was up 84.7% compared to the same quarter last year.

A number of brokerages recently weighed in on MDB. Zacks Investment Research downgraded shares of Mongodb from a “buy” rating to a “hold” rating in a research report on Saturday, January 19th. Canaccord Genuity reaffirmed a “buy” rating and set a $95.00 price objective (up previously from $78.00) on shares of Mongodb in a research report on Thursday, December 6th. They noted that the move was a valuation call. KeyCorp boosted their price objective on shares of Mongodb from $100.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and set a $130.00 price objective (up previously from $108.00) on shares of Mongodb in a research report on Thursday. Finally, Nomura set a $63.00 price objective on shares of Mongodb and gave the company a “sell” rating in a research report on Tuesday, February 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company. Mongodb currently has an average rating of “Buy” and a consensus price target of $107.08.

In other news, CEO Dev Ittycheria sold 20,965 shares of the stock in a transaction that occurred on Wednesday, January 2nd. The shares were sold at an average price of $79.79, for a total value of $1,672,797.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Meagen Eisenberg sold 18,748 shares of the stock in a transaction that occurred on Thursday, December 27th. The shares were sold at an average price of $80.10, for a total transaction of $1,501,714.80. The disclosure for this sale can be found here. Insiders sold 224,607 shares of company stock valued at $20,225,910 over the last quarter. Insiders own 40.04% of the company’s stock.

Several institutional investors have recently bought and sold shares of MDB. FMR LLC lifted its stake in Mongodb by 12.5% during the fourth quarter. FMR LLC now owns 5,275,057 shares of the company’s stock valued at $441,732,000 after purchasing an additional 586,841 shares during the last quarter. Oregon Public Employees Retirement Fund acquired a new stake in Mongodb during the fourth quarter valued at approximately $33,000. Vanguard Group Inc. lifted its stake in Mongodb by 3.6% during the third quarter. Vanguard Group Inc. now owns 1,683,561 shares of the company’s stock valued at $137,294,000 after purchasing an additional 58,398 shares during the last quarter. Vanguard Group Inc lifted its stake in Mongodb by 3.6% during the third quarter. Vanguard Group Inc now owns 1,683,561 shares of the company’s stock valued at $137,294,000 after purchasing an additional 58,398 shares during the last quarter. Finally, Capital World Investors lifted its stake in Mongodb by 8.1% during the third quarter. Capital World Investors now owns 1,670,188 shares of the company’s stock valued at $136,204,000 after purchasing an additional 125,000 shares during the last quarter. Institutional investors and hedge funds own 64.66% of the company’s stock.

The company has a market cap of $5.62 billion, a P/E ratio of -77.14 and a beta of 0.01. The company has a debt-to-equity ratio of 1.08, a quick ratio of 3.41 and a current ratio of 3.41.

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Mongodb Company Profile (NASDAQ:MDB)

MongoDB, Inc operates as a general purpose database platform worldwide. The company offers MongoDB Enterprise Advanced, a subscription package for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; MongoDB Atlas, a cloud-hosted 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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