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 – $ 0.31 – $ 0.16 for the period, compared to the consensus EPS estimate of – $ 0.37. The company issued revenue guidance of $ 1.17 billion- $ 1.19 billion, compared to the consensus revenue estimate of $ 1.18 billion. MongoDB also updated its Q2 2023 guidance to – $ 0.31 – $ 0.28 EPS.

Several brokerages have recently weighed in on MDB. Canaccord Genuity Group decreased their price target on MongoDB from $ 400.00 to $ 300.00 in a research note on Thursday, June 2nd. Citigroup increased their price target on MongoDB from $ 405.00 to $ 425.00 in a research note on Thursday, June 2nd. William Blair reissued an outperform rating on shares of MongoDB in a research note on Tuesday, May 24th. Stifel Nicolaus decreased their target price on MongoDB from $ 425.00 to $ 340.00 in a research note on Thursday, June 2nd. Finally, UBS Group raised their target price on MongoDB from $ 315.00 to $ 345.00 and gave the stock a buy rating in a research note on Wednesday, June 8th. One analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $ 420.38.

MDB stock opened at $ 269.55 on Wednesday. MongoDB has a twelve month low of $ 213.39 and a twelve month high of $ 590.00. The company has a debt-to-equity ratio of 1.69, a quick ratio of 4.16 and a current ratio of 4.16. The stock’s 50-day moving average is $ 300.59 and its 200-day moving average is $ 379.46.

MongoDB (NASDAQ: MDB – Get Rating) last posted its earnings results on Wednesday, June 1st. The company reported $ 0.20 earnings per share for the quarter, beating analysts’ consensus estimates of ($ 1.34) by $ 1.54. The company had revenue of $ 285.45 million for the quarter, compared to analyst estimates of $ 267.10 million. MongoDB had a negative return on equity of 45.56% and a negative net margin of 32.75%. The company’s revenue for the quarter was up 57.1% on a year-over-year basis. During the same quarter last year, the company earned ($ 0.98) earnings per share. As a group, equities analysts predict that MongoDB will post -5.09 EPS for the current fiscal year.

In other MongoDB news, Director Dwight A. Merriman sold 3,000 shares of the firm’s stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $ 251.74, for a total value of $ 755,220.00. Following the completion of the sale, the director now directly owns 544,896 shares of the company’s stock, valued at $ 137,172,119.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dev Ittycheria sold 35,000 shares of MongoDB stock in a transaction on Thursday, May 5th. The shares were sold at an average price of $ 321.10, for a total value of $ 11,238,500.00. Following the completion of the transaction, the chief executive officer now owns 204,744 shares of the company’s stock, valued at $ 65,743,298.40. The disclosure for this sale can be found here. Insiders sold 90,809 shares of company stock valued at $ 32,992,875 over the last three months. Company insiders own 5.70% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its position in MongoDB by 19.1% during the first quarter. PNC Financial Services Group Inc. now owns 1,282 shares of the company’s stock worth $ 569,000 after buying an additional 206 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new position in MongoDB during the first quarter worth about $ 551,000. Captrust Financial Advisors grew its position in MongoDB by 195.6% during the first quarter. Captrust Financial Advisors now owns 1,215 shares of the company’s stock worth $ 539,000 after buying an additional 804 shares in the last quarter. Eqis Capital Management Inc. purchased a new position in MongoDB during the first quarter worth about $ 502,000. Finally, Comerica Bank purchased a new position in MongoDB during the fourth quarter worth about $ 381,000. Institutional investors own 88.70% of the company’s stock.

About MongoDB (Get Rating)

MongoDB, Inc provides a 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.

See Also

Earnings History and Estimates for MongoDB (NASDAQ: MDB)

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