Mongodb Inc (MDB) Expected to Post Quarterly Sales of $59.68 Million

Brokerages forecast that Mongodb Inc (NASDAQ:MDB) will announce $59.68 million in sales for the current quarter, Zacks reports. Four analysts have made estimates for Mongodb’s earnings. The lowest sales estimate is $59.30 million and the highest is $59.85 million. Mongodb posted sales of $41.49 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 43.8%. The company is scheduled to announce its next quarterly earnings report after the market closes on Tuesday, December 4th.

According to Zacks, analysts expect that Mongodb will report full-year sales of $229.73 million for the current financial year, with estimates ranging from $229.21 million to $230.29 million. For the next fiscal year, analysts expect that the company will post sales of $314.73 million, with estimates ranging from $303.46 million to $327.70 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Mongodb.

Mongodb (NASDAQ:MDB) last issued its quarterly earnings data on Wednesday, September 5th. The company reported ($0.41) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.45) by $0.04. Mongodb had a negative net margin of 57.74% and a negative return on equity of 52.67%. The company had revenue of $57.50 million during the quarter, compared to the consensus estimate of $51.75 million. The business’s revenue for the quarter was up 61.5% compared to the same quarter last year.

MDB has been the subject of several research analyst reports. Zacks Investment Research upgraded Mongodb from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. Canaccord Genuity increased their target price on Mongodb from $54.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, September 6th. DA Davidson initiated coverage on Mongodb in a research note on Tuesday, October 2nd. They set a “neutral” rating and a $80.00 target price for the company. Monness Crespi & Hardt increased their target price on Mongodb from $60.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, September 6th. Finally, Oppenheimer initiated coverage on Mongodb in a research note on Wednesday, October 17th. They set an “outperform” rating and a $80.00 target price for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $77.92.

NASDAQ:MDB traded up $4.44 during trading hours on Monday, hitting $80.56. The stock had a trading volume of 1,122,507 shares, compared to its average volume of 817,860. The company has a quick ratio of 3.74, a current ratio of 3.74 and a debt-to-equity ratio of 1.01. Mongodb has a 1-year low of $24.62 and a 1-year high of $85.78. The company has a market capitalization of $3.97 billion and a price-to-earnings ratio of -46.30.

In related news, Director Kevin P. Ryan sold 24,000 shares of Mongodb stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $76.78, for a total transaction of $1,842,720.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Meagen Eisenberg sold 46,250 shares of Mongodb stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $72.44, for a total value of $3,350,350.00. The disclosure for this sale can be found here. Insiders have sold 336,283 shares of company stock worth $26,869,879 over the last three months. Corporate insiders own 40.04% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in MDB. Truvestments Capital LLC acquired a new position in Mongodb during the third quarter worth about $106,000. Belpointe Asset Management LLC acquired a new position in Mongodb during the third quarter worth about $110,000. Partner Investment Management L.P. acquired a new position in Mongodb during the third quarter worth about $133,000. Regis Management CO LLC acquired a new position in Mongodb during the second quarter worth about $148,000. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in Mongodb by 409.4% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 3,301 shares of the company’s stock worth $164,000 after purchasing an additional 2,653 shares in the last quarter. 48.69% of the stock is currently owned by hedge funds and other institutional investors.

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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