MongoDB (NASDAQ:MDB) Reaches New 1-Year Low Following Weak Earnings

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

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

Analyst Ratings Changes

MDB has been the subject of a number of research analyst reports. Bank of America cut their target price on shares of MongoDB from $420.00 to $286.00 and set a “buy” rating for the company in a research report on Thursday. Scotiabank reaffirmed a “sector perform” rating on shares of MongoDB in a report on Wednesday. KeyCorp lifted their price target on MongoDB from $330.00 to $375.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. The Goldman Sachs Group increased their price objective on MongoDB from $340.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Monness Crespi & Hardt raised shares of MongoDB from a “sell” rating to a “neutral” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $331.65.

Insider Activity at MongoDB

In other news, CAO Thomas Bull sold 1,000 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $355.92, for a total transaction of $355,920.00. Following the completion of the transaction, the chief accounting officer now owns 15,068 shares of the company’s stock, valued at approximately $5,363,002.56. The trade was a 6.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dwight A. Merriman sold 3,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $270.63, for a total value of $811,890.00. Following the completion of the sale, the director now directly owns 1,109,006 shares in the company, valued at $300,130,293.78. This trade represents a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,314 shares of company stock valued at $13,337,753. 3.60% of the stock is owned by insiders.

Institutional Investors Weigh In On MongoDB

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in MongoDB by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 7,328,745 shares of the company’s stock valued at $1,706,205,000 after purchasing an additional 23,942 shares during the last quarter. Jennison Associates LLC raised its position in MongoDB by 23.6% in the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock valued at $838,632,000 after purchasing an additional 592,038 shares during the last quarter. Franklin Resources Inc. grew its holdings in MongoDB by 9.7% during the 4th quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company’s stock worth $478,398,000 after acquiring an additional 181,962 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of MongoDB by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 1,252,142 shares of the company’s stock valued at $290,987,000 after buying an additional 22,106 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of MongoDB by 12.6% in the fourth quarter. First Trust Advisors LP now owns 854,906 shares of the company’s stock worth $199,031,000 after acquiring an additional 95,893 shares during the period. 89.29% of the stock is currently owned by institutional investors and hedge funds.

MongoDB Trading Down 20.6 %

The business’s 50-day simple moving average is $263.70 and its two-hundred day simple moving average is $275.28. The firm has a market cap of $15.61 billion, a price-to-earnings ratio of -76.92 and a beta of 1.30.

MongoDB Company Profile

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.