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 NASDAQ:MDB traded down $0.78 during midday trading on Thursday, reaching $329.52. The company had a trading volume of 1,027,645 shares, compared to its average volume of 839,157. The company has a debt-to-equity ratio of 43.46, a current ratio of 3.33 and a quick ratio of 3.22. MongoDB has a one year low of $186.27 and a one year high of $428.96. The company’s fifty day simple moving average is $291.85. The stock has a market cap of $20.16 billion, a PE ratio of -71.48 and a beta of 0.73.

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

A number of research firms have recently weighed in on MDB. Mizuho lifted their price target on MongoDB from $265.00 to $300.00 and gave the company a neutral rating in a report on Friday, June 4th. The Goldman Sachs Group began coverage on MongoDB in a report on Friday, May 14th. They set a buy rating and a $310.00 price target on the stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price target on MongoDB from $445.00 to $450.00 and gave the company a buy rating in a report on Friday, June 4th. Needham & Company LLC lifted their price target on MongoDB from $409.00 to $415.00 and gave the company a buy rating in a report on Friday, June 4th. Finally, Canaccord Genuity cut their price target on MongoDB from $430.00 to $375.00 and set a buy rating on the stock in a report on Wednesday, March 10th. They noted that the move was a valuation call. One research 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. The stock presently has a consensus rating of Buy and a consensus target price of $374.25.

In related news, Director Charles M. Hazard, Jr. sold 1,667 shares of MongoDB stock in a transaction on Tuesday, June 8th. The stock was sold at an average price of $317.56, for a total transaction of $529,372.52. Following the completion of the sale, the director now directly owns 73,093 shares of the company’s stock, valued at $23,211,413.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael Lawrence Gordon sold 3,988 shares of the stock in a transaction dated Friday, March 19th. The shares were sold at an average price of $307.95, for a total transaction of $1,228,104.60. Following the completion of the transaction, the chief financial officer now directly owns 120,414 shares in the company, valued at $37,081,491.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 366,807 shares of company stock worth $106,389,987. 7.40% of the stock is currently owned by corporate insiders.

About MongoDB

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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