MongoDB (MDB, $241.11) posts narrower-than-expected loss
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.
Momentum Indicator for MDB turns positive, indicating new upward trend
MDB saw its Momentum Indicator move above the 0 level on May 04, 2023. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 78 similar instances where the indicator turned positive. In of the 78 cases, the stock moved higher in the following days. The odds of a move higher are at .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Moving Average Convergence Divergence (MACD) for MDB just turned positive on May 05, 2023. Looking at past instances where MDB's MACD turned positive, the stock continued to rise in of 46 cases over the following month. The odds of a continued upward trend are .
MDB moved above its 50-day moving average on May 03, 2023 date and that indicates a change from a downward trend to an upward trend.
The 50-day moving average for MDB moved above the 200-day moving average on May 10, 2023. This could be a long-term bullish signal for the stock as the stock shifts to an upward trend.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where MDB advanced for three days, in of 351 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 280 cases where MDB Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Bearish Trend Analysis
The 10-day RSI Indicator for MDB moved out of overbought territory on May 19, 2023. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 40 similar instances where the indicator moved out of overbought territory. In of the 40 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Stochastic Oscillator has been in the overbought zone for 1 day. Expect a price pull-back in the near future.
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 May 10, 2023. 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.
Fundamental Analysis (Ratings)
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 89, placing this stock slightly better than average.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady price growth. MDB’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly 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 (28.011) is normal, around the industry mean (31.306). P/E Ratio (0.000) is within average values for comparable stocks, (168.128). Projected Growth (PEG Ratio) (3.885) is also within normal values, averaging (4.122). Dividend Yield (0.000) settles around the average of (0.040) among similar stocks. P/S Ratio (15.699) is also within normal values, averaging (70.523).
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.
Notable companies
Industry description
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
a developer of MongoDB database
Industry PackagedSoftware
MDB and
Correlation & Price change
A.I.dvisor indicates that over the last year, MDB has been closely correlated with DDOG. These tickers have moved in lockstep 83% of the time. This A.I.-generated data suggests there is a high statistical probability that if MDB jumps, then DDOG could also see price increases.
| Ticker / NAME | Correlation To MDB | 1D Price Change % | ||
|---|---|---|---|---|
| MDB | 100% | +0.49% | ||
| DDOG - MDB | 83% Closely correlated | +1.30% | ||
| HCP - MDB | 76% Closely correlated | +1.90% | ||
| PD - MDB | 76% Closely correlated | +0.82% | ||
| HUBS - MDB | 76% Closely correlated | +1.48% | ||
| GWRE - MDB | 75% Closely correlated | +1.73% | ||
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