Zacks: Brokerages Expect Mongodb Inc (NASDAQ:MDB) Will Announce Quarterly Sales of $126.32 Million

Equities analysts expect that Mongodb Inc (NASDAQ:MDB) will announce sales of $126.32 million for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Mongodb’s earnings. The lowest sales estimate is $125.99 million and the highest is $126.70 million. Mongodb posted sales of $99.37 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 27.1%. The firm is expected to issue its next quarterly earnings results on Wednesday, September 2nd.

According to Zacks, analysts expect that Mongodb will report full year sales of $527.61 million for the current fiscal year, with estimates ranging from $524.93 million to $530.00 million. For the next fiscal year, analysts anticipate that the company will report sales of $685.71 million, with estimates ranging from $627.50 million to $752.40 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Mongodb.

Mongodb (NASDAQ:MDB) last posted its quarterly earnings results on Thursday, June 4th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.12. Mongodb had a negative net margin of 42.42% and a negative return on equity of 94.98%. The company had revenue of $130.33 million for the quarter, compared to analyst estimates of $119.72 million. During the same period in the prior year, the company earned ($0.22) earnings per share. The firm’s revenue was up 45.8% on a year-over-year basis.

Several equities research analysts have recently issued reports on MDB shares. Oppenheimer reissued a “buy” rating and set a $240.00 target price (up from $140.00) on shares of Mongodb in a research note on Friday, June 5th. Zacks Investment Research downgraded shares of Mongodb from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Goldman Sachs Group upped their price target on shares of Mongodb from $169.00 to $215.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 24th. They noted that the move was a valuation call. Needham & Company LLC upped their price target on shares of Mongodb from $170.00 to $253.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Finally, Citigroup upped their price target on shares of Mongodb from $175.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $206.87.

In other Mongodb news, insider Thomas Bull sold 398 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $222.88, for a total value of $88,706.24. Following the completion of the transaction, the insider now owns 16,885 shares of the company’s stock, valued at approximately $3,763,328.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dev Ittycheria sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $196.84, for a total transaction of $5,905,200.00. Following the completion of the transaction, the chief executive officer now directly owns 271,167 shares of the company’s stock, valued at approximately $53,376,512.28. The disclosure for this sale can be found here. Insiders have sold a total of 126,571 shares of company stock valued at $27,098,149 in the last ninety days. 16.28% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the business. Comerica Bank boosted its position in Mongodb by 131.1% in the 2nd quarter. Comerica Bank now owns 3,515 shares of the company’s stock valued at $762,000 after buying an additional 1,994 shares during the period. Prudential PLC acquired a new stake in shares of Mongodb in the 2nd quarter valued at $1,504,000. UBS Group AG raised its holdings in shares of Mongodb by 35.4% in the 2nd quarter. UBS Group AG now owns 38,199 shares of the company’s stock valued at $8,646,000 after purchasing an additional 9,989 shares in the last quarter. LA Financiere DE L Echiquier raised its holdings in shares of Mongodb by 68.1% in the 2nd quarter. LA Financiere DE L Echiquier now owns 71,000 shares of the company’s stock valued at $16,070,000 after purchasing an additional 28,760 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in shares of Mongodb by 69.4% in the 2nd quarter. Signaturefd LLC now owns 183 shares of the company’s stock valued at $41,000 after purchasing an additional 75 shares in the last quarter. 84.67% of the stock is owned by institutional investors.

Shares of MDB stock traded up $0.50 during mid-day trading on Tuesday, hitting $229.08. 563,744 shares of the stock were exchanged, compared to its average volume of 719,530. The firm has a fifty day moving average of $214.59 and a 200 day moving average of $175.30. The company has a quick ratio of 4.57, a current ratio of 4.57 and a debt-to-equity ratio of 15.11. Mongodb has a 52-week low of $93.81 and a 52-week high of $243.92. The company has a market cap of $13.32 billion, a PE ratio of -66.21 and a beta of 0.76.

About Mongodb

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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