MongoDB, Inc. ($MDB) Earnings (Q2 FY23)

 MongoDB, Inc. ($MDB) Earnings and Opinion:


MongoDB is a company in the Technology sector and operates in the Software-Infrastructure industry. The company provides a general purpose database platform worldwide. MongoDB was incorporated in 2007 and is currently headquartered in New York, New York. The company made its debut on the stock market in 2017.

MongoDB Earnings Results:

  • Revenues of $304M beating expectations of $283M
  • Gross Profit of $223M beating expectations of $206M
  • Operating Income of -$12M beating expectations of -$16M
  • Adjusted EPS of -$0.23 beating expectations of -$0.27
  • Guidance was mixed compared to estimates
Opinion:
MongoDB is currently sliding a little over 8% after hours, after the company reported earnings after the market closed this afternoon. The company beat all of their estimates for the previous quarter, but it's the guidance that is causing the stock to fall after hours. The company credits the volatility currently happening in the global economy and the ongoing effects from Covid-19 as reasons the guidance was low. I think they are lowballing guidance a tiny bit, due to the fact that they are worried about volatility reaching higher levels and the business changing rapidly due to these concerns. I am impressed with the revenues and the beats on profitability metrics. There is some optimism certainly surrounding the company currently. As far as valuation goes, the P/S ratio sits at 24.58, which is relatively high but is decreasing compared to previous measures. The growth shows signs of decline, but still shows signs of growth for times to come. The current ratio sits at 4.16, which is a nice level. The cash outweighs the debt, which is a comfortable position for the company to be in currently. In my opinion, MongoDB seems a little overvalued currently. They have a solid business model. but I want to see improved financials to make me have full faith in them. I think with the decline currently happening and the future growth of the business, there is upside. I am a fan of MongoDB and I am long MongoDB.


*Information from MongoDB and Motley Fool
*Information from Yahoo Finance, Consensus Gurus, CMLVIZ

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