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.
ILLEGAL ACTIVITY WARNING: This news story was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this news story on another domain, it was stolen and reposted in violation of U.S. and international copyright and trademark law. The legal version of this news story can be accessed at https://ledgergazette.com/2017/12/13/mongodb-mdb-stock-price-down-5-7-on-disappointing-earnings.html.
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.
Receive News & Ratings for Mongodb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mongodb and related companies with MarketBeat.com's FREE daily email newsletter.