MongoDB (NASDAQ:MDB) Sets New 1-Year Low After Earnings Miss

MongoDB, Inc. (NASDAQ:MDB)’s stock price hit a new 52-week low during mid-day trading on Thursday following a weaker than expected earnings announcement. The stock traded as low as $200.19 and last traded at $205.36, with a volume of 2933806 shares traded. The stock had previously closed at $264.13.

The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.45). The firm had revenue of $548.40 million for the quarter, compared to analysts’ expectations of $519.65 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. During the same quarter last year, the firm posted $0.86 earnings per share.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. The Goldman Sachs Group upped their price objective on MongoDB from $340.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Cantor Fitzgerald began coverage on MongoDB in a research note on Wednesday. They set an “overweight” rating and a $344.00 price objective for the company. Canaccord Genuity Group reduced their target price on MongoDB from $385.00 to $320.00 and set a “buy” rating on the stock in a research note on Thursday. DA Davidson increased their target price on shares of MongoDB from $340.00 to $405.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, UBS Group set a $350.00 target price on shares of MongoDB in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $331.65.

Insider Activity

In related news, CAO Thomas Bull sold 169 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total transaction of $39,561.21. Following the completion of the sale, the chief accounting officer now directly owns 14,899 shares in the company, valued at approximately $3,487,706.91. The trade was a 1.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Cedric Pech sold 287 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total transaction of $67,183.83. Following the sale, the insider now directly owns 24,390 shares of the company’s stock, valued at approximately $5,709,455.10. The trade was a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,314 shares of company stock valued at $13,337,753 over the last three months. Insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Strategic Investment Solutions Inc. IL purchased a new stake in MongoDB in the fourth quarter worth about $29,000. Hilltop National Bank boosted its stake in MongoDB by 47.2% during the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock valued at $30,000 after buying an additional 42 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of MongoDB in the third quarter valued at $36,000. Continuum Advisory LLC grew its stake in shares of MongoDB by 621.1% in the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock worth $40,000 after buying an additional 118 shares in the last quarter. Finally, NCP Inc. bought a new stake in MongoDB during the fourth quarter worth approximately $35,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

MongoDB Price Performance

The firm has a market capitalization of $15.61 billion, a PE ratio of -76.92 and a beta of 1.30. The business has a 50-day simple moving average of $263.70 and a 200-day simple moving average of $275.28.

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.