MongoDB (NASDAQ:MDB) Announces Earnings Results, Beats Expectations By $0.48 EPS

MongoDB (NASDAQ:MDB) issued its quarterly earnings data 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. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. The firm had revenue of $529.40 million during the quarter, compared to the consensus estimate of $497.39 million. During the same quarter in the previous year, the company posted $0.96 EPS. The business’s revenue for the quarter was up 22.3% compared to the same quarter last year.

MongoDB Price Performance

NASDAQ MDB opened at $290.90 on Wednesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.03 and a current ratio of 5.03. The stock has a market cap of $21.49 billion, a price-to-earnings ratio of -96.32 and a beta of 1.17. The business has a 50 day simple moving average of $291.56 and a 200 day simple moving average of $268.79. MongoDB has a 52-week low of $212.74 and a 52-week high of $509.62.

Analyst Ratings Changes

A number of equities research analysts have commented on MDB shares. Oppenheimer increased their price objective on shares of MongoDB from $350.00 to $400.00 and gave the stock an “outperform” rating in a report on Tuesday. Sanford C. Bernstein increased their price target on shares of MongoDB from $358.00 to $360.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Citigroup boosted their price objective on shares of MongoDB from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Scotiabank increased their price objective on MongoDB from $295.00 to $350.00 and gave the company a “sector perform” rating in a research report on Tuesday. Finally, Stifel Nicolaus upped their price target on MongoDB from $325.00 to $360.00 and gave the company a “buy” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $370.48.

Insider Buying and Selling at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $768,750.00. Following the sale, the director now owns 1,131,006 shares of the company’s stock, valued at $289,820,287.50. This trade represents a 0.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CRO Cedric Pech sold 302 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total value of $77,387.50. Following the completion of the sale, the executive now owns 33,440 shares in the company, valued at approximately $8,569,000. This trade represents a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,600 shares of company stock valued at $7,255,929. 3.60% of the stock is currently owned by corporate insiders.

About MongoDB

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.