MongoDB (MDB, $496.36) gets price target hikes
MongoDB shares received price-target hikes from several analysts, on the database platform's fiscal-second-quarter results that surpassed expectations.
For the quarter ended July 31, MongoDB incurred a loss of -24 cents a share, compared with -39 cents a share loss expected by analysts polled by FactSet.
Revenue rose +44% from the year-ago quarter to $198.7 million, beating analysts' expectations of $182.4 million.
Oppenheimer analyst Ittai Kidron boosted the price target to $470 from $400. Kidron affirmed his outperform rating on the company’s shares. According to Kidron, MongoDB had a "strong" July quarter, with revenue and loss per share beating estimates on the back of robust subscription revenue growth and an "impressive" performance from Atlas. He noted that Atlas is increasingly becoming MongoDB's primary growth engine. Looking forward, the analyst expects continued investment in C-level engagement to bolster long-term expansion.
Barclays analyst Raimo Lenschow hiked his price target on MongoDB shares to $505 from $420, while maintaining his overweight rating on the shares. Lenschow said that investor focus for the second quarter was on the performance of Atlas, and the results "did not disappoint." Atlas has a run rate above $400 million. He said the performance would lead to analysts revising their estimates upward. Lenschow indicated that based on MongoDB's continued product enhancements and sales motion evolution, he is sanguine that the company "has a long growth runway ahead."
Canaccord analyst David Hynes raised his price target on MongoDB shares to $290 from $245, while keeping a buy rating on the shares. According to Hynes, the stock is expensive but the company has one of the largest still growing total addressable markets. The analyst said that favorable secular trends will boost both new and expansion opportunities.
MDB sees its 50-day moving average cross bullishly above its 200-day moving average
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.
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on May 04, 2023. You may want to consider a long position or call options on MDB as a result. In of 78 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 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.
Following a +2 3-day Advance, the price is estimated to grow further. Considering data from situations where MDB advanced for three days, in of 350 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 RSI Oscillator demonstrated that the stock has entered the overbought zone. This may point to a price pull-back soon.
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 3 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
MDB broke above its upper Bollinger Band on June 02, 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 low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 89, placing this stock better than average.
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 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 (33.445) is normal, around the industry mean (31.480). P/E Ratio (0.000) is within average values for comparable stocks, (167.650). Projected Growth (PEG Ratio) (4.980) is also within normal values, averaging (4.158). Dividend Yield (0.000) settles around the average of (0.068) among similar stocks. P/S Ratio (19.048) is also within normal values, averaging (75.604).
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 81% 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% | +28.01% | ||
| DDOG - MDB | 81% Closely correlated | +3.98% | ||
| HCP - MDB | 76% Closely correlated | -0.49% | ||
| HUBS - MDB | 76% Closely correlated | +1.23% | ||
| GWRE - MDB | 75% Closely correlated | -14.43% | ||
| SNOW - MDB | 73% Closely correlated | +4.74% | ||
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