MongoDB (NASDAQ:MDB) Sets New 52-Week Low After Earnings Miss

MongoDB, Inc. (NASDAQ:MDB - Get Free Report)'s stock price hit a new 52-week low on Thursday after the company announced weaker than expected quarterly earnings. The company 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 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 business had revenue of $548.40 million for the quarter, compared to analysts' expectations of $519.65 million. During the same period in the prior year, the company earned $0.86 EPS.

Wall Street Analyst Weigh In

MDB has been the subject of a number of research analyst reports. Truist Financial dropped their price objective on MongoDB from $400.00 to $300.00 and set a "buy" rating for the company in a report on Thursday. Monness Crespi & Hardt upgraded MongoDB from a "sell" rating to a "neutral" rating in a report on Monday, March 3rd. Wedbush lowered their price target on MongoDB from $360.00 to $300.00 and set an "outperform" rating for the company in a report on Thursday. Cantor Fitzgerald assumed coverage on MongoDB in a report on Wednesday. They issued an "overweight" rating and a $344.00 price target for the company. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $350.00 price target on shares of MongoDB in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat.com, MongoDB presently has an average rating of "Moderate Buy" and an average price target of $319.87.

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Insider Buying and Selling at MongoDB

In other MongoDB news, CAO Thomas Bull sold 1,000 shares of MongoDB stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $355.92, for a total value of $355,920.00. Following the transaction, the chief accounting officer now owns 15,068 shares in the company, valued at approximately $5,363,002.56. The trade was a 6.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Cedric Pech sold 287 shares of MongoDB stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $67,183.83. Following the completion of the transaction, the insider now owns 24,390 shares in the company, valued at approximately $5,709,455.10. This trade represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,314 shares of company stock worth $13,337,753. 3.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Strategic Investment Solutions Inc. IL acquired a new position in MongoDB in the fourth quarter worth approximately $29,000. Hilltop National Bank boosted its stake in MongoDB by 47.2% in the 4th quarter. Hilltop National Bank now owns 131 shares of the company's stock worth $30,000 after purchasing an additional 42 shares during the period. Brooklyn Investment Group acquired a new position in MongoDB in the 3rd quarter worth approximately $36,000. Continuum Advisory LLC boosted its stake in MongoDB by 621.1% in the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company's stock worth $40,000 after purchasing an additional 118 shares during the period. Finally, NCP Inc. acquired a new stake in shares of MongoDB during the 4th quarter valued at $35,000. Institutional investors and hedge funds own 89.29% of the company's stock.

MongoDB Stock Performance

The business's 50 day simple moving average is $261.68 and its 200-day simple moving average is $274.38. The company has a market cap of $13.97 billion, a price-to-earnings ratio of -68.49 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.