Benzinga - MongoDB Inc (NASDAQ: MDB) posted upbeat sales for its third quarter and issued guidance above analyst estimates.
MongoDB said third-quarter revenue was up 47% year-over-year to $333.6 million, which beat average analyst estimates of $303.39 million. The company reported quarterly adjusted earnings of 23 cents per share, up from 3 cents per share year-over-year.
MongoDB said it expects full-year revenue to be between $1.257 billion and $1.26 billion versus estimates of $1.21 billion. Full-year adjusted earnings are expected to be between 29 cents and 31 cents per share.
MongoDB shares jumped 20.9% to $174.68 on Wednesday.
These analysts made changes to their price targets on MongoDB after the company released quarterly results.
- Needham cut price target on MongoDB from $330 to $225. Needham analyst Mike Cikos maintained a Buy rating on the stock.
- Mizuho slashed MongoDB price target from $190 to $170. Mizuho analyst Matthew Broome maintained a Neutral rating on the stock.
- UBS raised the price target on the stock from $200 to $215. UBS analyst Karl Keirstead maintained the stock with a Buy.
- Credit Suisse (SIX:CSGN) lowered the price target from $400 to $305. Credit Suisse analyst Phil Winslow maintained MongoDB with an Outperform.
- Barclays (LON:BARC) raised the price target from $233 to $240. Barclays analyst Raimo Lenschow maintained MongoDB with an Overweight.
- Goldman Sachs (NYSE:GS) slashed the price target on the stock from $380 to $325. Goldman Sachs analyst Kash Rangan maintained MongoDB with a Buy.
- Morgan Stanley (NYSE:MS) raised the price target from $215 to $230. Morgan Stanley analyst Sanjit Singh maintained MongoDB with an Equal-Weight.
- Oppenheimer lowered the price target from $375 to $320. Oppenheimer analyst Ittai Kidron maintained MongoDB with an Outperform.
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