Mongodb (MDB) Stock Price Down 5.7% on Disappointing Earnings

Mongodb Inc (NASDAQ:MDB) shares traded down 5.7% during mid-day trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $26.36 and last traded at $27.35. 709,771 shares changed hands during trading, an increase of 66% from the average session volume of 428,199 shares. The stock had previously closed at $29.00.

The company reported ($1.39) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.49) by ($0.90). The business had revenue of $41.50 million during the quarter, compared to analysts’ expectations of $37.21 million. The business’s quarterly revenue was up 57.8% on a year-over-year basis.

A number of equities analysts recently commented on the company. Canaccord Genuity Group initiated coverage on Mongodb in a report on Wednesday, November 15th. They set a “buy” rating and a $35.00 price target for the company. Stifel Nicolaus initiated coverage on Mongodb in a report on Monday, November 13th. They set a “buy” rating and a $34.00 price objective for the company. Canaccord Genuity initiated coverage on Mongodb in a report on Monday, November 13th. They set a “buy” rating and a $35.00 price objective for the company. JMP Securities initiated coverage on Mongodb in a report on Monday, November 13th. They set a “market perform” rating for the company. Finally, Goldman Sachs Group initiated coverage on Mongodb in a report on Monday, November 13th. They set a “neutral” rating and a $30.00 price objective for the company. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $33.83.

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Mongodb Company Profile

MongoDB, Inc is a United States-based modern, general purpose database platform. Its platform is designed to run applications at scale across a broad range of use cases in the cloud, on-premise or in a hybrid environment. Its primary subscription package is MongoDB Enterprise Advanced, which includes its proprietary database server, security, enterprise management capabilities, its graphical user interface, analytics integrations and technical support.

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