MongoDB (NASDAQ:MDB) Updates Q2 2022 Earnings Guidance

MongoDB (NASDAQ:MDB) issued an update on its second quarter 2022 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $-0.430–0.400 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $-0.330. The company issued revenue guidance of $180 million-183 million, compared to the consensus revenue estimate of $181.06 million.MongoDB also updated its FY 2022 guidance to $-1.380–1.250 EPS.

Shares of MongoDB stock traded up $3.82 on Friday, hitting $333.34. The stock had a trading volume of 29,540 shares, compared to its average volume of 839,157. The company has a 50 day moving average of $291.85. MongoDB has a twelve month low of $186.27 and a twelve month high of $428.96. The company has a quick ratio of 3.22, a current ratio of 3.33 and a debt-to-equity ratio of 43.46. The stock has a market capitalization of $20.40 billion, a price-to-earnings ratio of -71.86 and a beta of 0.73.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Wednesday, June 2nd. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.36) by $0.21. MongoDB had a negative return on equity of 1,062.47% and a negative net margin of 43.16%. The company had revenue of $181.60 million during the quarter, compared to the consensus estimate of $169.96 million. During the same quarter in the prior year, the firm posted ($0.13) earnings per share. The firm’s revenue was up 39.4% compared to the same quarter last year. On average, equities analysts anticipate that MongoDB will post -4.48 earnings per share for the current year.

MDB has been the subject of several recent research reports. DA Davidson upped their price objective on MongoDB from $275.00 to $300.00 and gave the company a neutral rating in a research note on Wednesday, March 10th. They noted that the move was a valuation call. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price objective on MongoDB from $445.00 to $450.00 and gave the company a buy rating in a research note on Friday, June 4th. Argus raised shares of MongoDB from a hold rating to a buy rating and set a $406.00 target price for the company in a research report on Friday, March 12th. The Goldman Sachs Group assumed coverage on shares of MongoDB in a research report on Friday, May 14th. They set a buy rating and a $310.00 target price for the company. Finally, Citigroup increased their target price on shares of MongoDB from $445.00 to $450.00 and gave the company a buy rating in a research report on Friday, June 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $374.25.

In related news, insider Thomas Bull sold 405 shares of the stock in a transaction on Monday, April 5th. The stock was sold at an average price of $283.29, for a total value of $114,732.45. Following the transaction, the insider now directly owns 18,295 shares in the company, valued at approximately $5,182,790.55. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Charles M. Hazard, Jr. sold 1,667 shares of the stock in a transaction on Tuesday, June 8th. The stock was sold at an average price of $317.56, for a total value of $529,372.52. Following the completion of the transaction, the director now owns 73,093 shares in the company, valued at $23,211,413.08. The disclosure for this sale can be found here. Insiders have sold a total of 366,807 shares of company stock worth $106,389,987 over the last 90 days. Company insiders own 7.40% of the company’s stock.

MongoDB Company Profile

MongoDB, Inc provides 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.

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Earnings History and Estimates for MongoDB (NASDAQ:MDB)

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