Mongodb (NASDAQ:MDB) Updates Q3 Earnings Guidance

Mongodb (NASDAQ:MDB) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of ($0.29-0.27) for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($0.28). The company issued revenue guidance of $98-100 million, compared to the consensus revenue estimate of $94.86 million.Mongodb also updated its FY 2020 guidance to $-1.11–1.06 EPS.

Shares of MDB stock traded up $8.72 during midday trading on Wednesday, hitting $158.66. 2,695,692 shares of the company were exchanged, compared to its average volume of 1,454,534. The firm has a market capitalization of $8.78 billion, a P/E ratio of -92.24 and a beta of 0.15. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.18 and a current ratio of 3.18. The firm’s 50 day moving average price is $148.86 and its two-hundred day moving average price is $141.14. Mongodb has a 52 week low of $62.30 and a 52 week high of $184.78.

Mongodb (NASDAQ:MDB) last announced its earnings results on Wednesday, June 5th. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.02. The business had revenue of $89.40 million during the quarter, compared to the consensus estimate of $83.50 million. Mongodb had a negative net margin of 39.68% and a negative return on equity of 44.47%. Mongodb’s revenue was up 78.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.43) EPS. Analysts expect that Mongodb will post -2.07 EPS for the current year.

Several analysts recently commented on MDB shares. Monness Crespi & Hardt set a $185.00 target price on shares of Mongodb and gave the stock a buy rating in a report on Friday, August 30th. Citigroup raised shares of Mongodb from a neutral rating to a buy rating and lifted their target price for the stock from $162.00 to $184.00 in a report on Tuesday, August 27th. Barclays lifted their target price on shares of Mongodb from $143.00 to $178.00 and gave the stock an overweight rating in a report on Wednesday, May 15th. ValuEngine downgraded shares of Mongodb from a buy rating to a hold rating in a report on Wednesday. Finally, Stifel Nicolaus set a $180.00 target price on shares of Mongodb and gave the stock a buy rating in a report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $156.29.

In other news, CEO Dev Ittycheria sold 128,805 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $147.04, for a total value of $18,939,487.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas Bull sold 466 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $145.62, for a total transaction of $67,858.92. The disclosure for this sale can be found here. Insiders sold a total of 205,471 shares of company stock valued at $32,106,036 in the last quarter. Corporate insiders own 25.08% of the company’s stock.

Mongodb Company Profile

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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Earnings History and Estimates for Mongodb (NASDAQ:MDB)

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