Mongodb (MDB) Reaches New 12-Month High After Better-Than-Expected Earnings

Mongodb Inc (NASDAQ:MDB) hit a new 52-week high on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $133.85 and last traded at $133.53, with a volume of 259475 shares. The stock had previously closed at $104.26.

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

MDB has been the topic of a number of recent research reports. Canaccord Genuity lifted their target price on Mongodb from $95.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday. Citigroup lifted their target price on Mongodb from $86.00 to $94.00 and gave the stock a “neutral” rating in a report on Thursday, December 6th. Needham & Company LLC lifted their target price on Mongodb from $85.00 to $91.00 and gave the stock a “buy” rating in a report on Thursday, December 6th. DA Davidson restated a “neutral” rating on shares of Mongodb in a report on Thursday. Finally, JMP Securities restated a “hold” rating on shares of Mongodb in a report on Wednesday. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. Mongodb has an average rating of “Buy” and an average price target of $106.38.

In other news, Director Kevin P. Ryan sold 24,000 shares of Mongodb stock in a transaction on Thursday, January 17th. The stock was sold at an average price of $75.00, for a total transaction of $1,800,000.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Meagen Eisenberg sold 50,625 shares of Mongodb stock in a transaction on Wednesday, December 19th. The shares were sold at an average price of $88.06, for a total value of $4,458,037.50. The disclosure for this sale can be found here. Insiders have sold 224,607 shares of company stock worth $20,225,910 in the last quarter. 40.04% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of the company. American Century Companies Inc. purchased a new position in shares of Mongodb during the fourth quarter valued at $64,633,000. Geode Capital Management LLC grew its holdings in shares of Mongodb by 18.2% during the fourth quarter. Geode Capital Management LLC now owns 209,107 shares of the company’s stock valued at $17,510,000 after buying an additional 32,248 shares in the last quarter. Dimensional Fund Advisors LP purchased a new position in shares of Mongodb during the fourth quarter valued at $1,382,000. FMR LLC boosted its position 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. Finally, grace capital acquired a new stake in Mongodb during the fourth quarter valued at $595,000. Institutional investors and hedge funds own 64.66% of the company’s stock.

The stock has a market cap of $5.62 billion, a PE ratio of -75.25 and a beta of 0.01. The company has a quick ratio of 3.41, a current ratio of 3.41 and a debt-to-equity ratio of 1.08.

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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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