Benzinga - MongoDB Inc (NASDAQ: MDB) reported fourth-quarter financial results and issued weak revenue guidance.
MongoDB said quarterly revenue increased 36% year-over-year to $361.3 million, which beat average analyst estimates of $337.66 million. The company reported quarterly earnings of 57 cents per share.
The company said it sees Q1 revenue in a range of $344 million to $348 million versus estimates of $355.93. The company sees first-quarter adjusted earnings in a range of 17 cents to 20 cents per share versus estimates of 14 cents per share.
MongoDB shares dropped 10.8% to $203.91 in today’s pre-market trading session.
These analysts made changes to their price targets on MongoDB following the release of results.
- Barclays cut the price target on MongoDB from $264 to $257. Barclays analyst Raimo Lenschow maintained an Overweight rating.
- JMP Securities increased the price target on MongoDB from $215 to $245. JMP Securities analyst Patrick Walravens maintained a Market Outperform rating.
- Oppenheimer slashed the price target on MongoDB from $320 to $270. Oppenheimer analyst Ittai Kidron maintained an Outperform rating.
- Citigroup cut the price target on MongoDB from $295 to $290. Citigroup analyst Tyler Radke maintained a Buy rating.
- Mizuho slashed the price target on MongoDB from $220 to $180. Mizuho analyst Matthew Broome maintained the stock with a Neutral rating.
- Needham increased the price target on MongoDB from $240 to $250. Needham analyst Mike Cikos maintained the stock with a Buy rating.
- Goldman Sachs cut the price target on MongoDB from $325 to $280. Goldman Sachs analyst Kash Rangan maintained the stock with a Buy rating.
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