MongoDB reported second-quarter fiscal 2023 adjusted loss of -23 cents per share, beating the Zacks Consensus Estimate by 20.69%. The loss, however, is wider than the year-ago quarter’s -12 cents per share.
The database company’s revenues surged +52.8% year over year to $303.7 million, exceeding surpassing the consensus expectations by 8.38%.
Subscription revenues ( 96% of revenues) grew 52.4% year over year to $291.6 million, while Services revenues climbed +63.6% year over year to $12.1 million (4% to revenues).
MongoDB added 1,800 customers during the quarter, bringing the total to 37,000 as of quarter-end.
Atlas revenues surged +73% year over year (and is 64% to total revenues). Atlas added 1,800 customers during the quarter, to more than 35,500 customers as of quarter-end.
MongoDB’s gross margin expanded +100 basis points year-over-year basis to 73.5%.
For third-quarter fiscal 2023, MongoDB expects non-GAAP net loss between -16 cents and -19 cents per share. It predicts revenues of $300 million to $303 million.
For full fiscal year 2023, MongoDB projects non-GAAP net loss in the range of -28 cents and -35 cents per share. It expects revenues range of $1.196 billion to $1.206 billion.
The 50-day moving average for MDB moved below the 200-day moving average on April 25, 2024. This could be a long-term bearish signal for the stock as the stock shifts to an downward trend.
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 70 cases where MDB's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .
MDB moved below its 50-day moving average on April 29, 2024 date and that indicates a change from an upward trend to a downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where MDB declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
MDB broke above its upper Bollinger Band on April 26, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Aroon Indicator for MDB entered a downward trend on April 25, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where MDB's RSI Indicator exited the oversold zone, of 28 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Momentum Indicator moved above the 0 level on April 23, 2024. You may want to consider a long position or call options on MDB as a result. In of 74 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for MDB just turned positive on March 28, 2024. Looking at past instances where MDB's MACD turned positive, the stock continued to rise in of 44 cases over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where MDB advanced for three days, in of 333 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. MDB’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 90, placing this stock slightly better than average.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (24.272) is normal, around the industry mean (29.955). P/E Ratio (0.000) is within average values for comparable stocks, (155.575). Projected Growth (PEG Ratio) (1.654) is also within normal values, averaging (2.725). Dividend Yield (0.000) settles around the average of (0.081) among similar stocks. P/S Ratio (15.083) is also within normal values, averaging (55.459).
The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a developer of MongoDB database
Industry PackagedSoftware