MongoDB Add to portfolio

Mongodb Inc (NASDAQ:MDB) CFO Michael Lawrence Gordon sold 1,047 shares of the stock in a transaction that occurred on Tuesday, October 2nd. The shares were sold at an average price of $83.77, for a total transaction of $8,377,000.00. Mongodb’s revenue was up 61.5% compared to the same quarter last year. As a group, analysts predict that Mongodb Inc will post -2.24 EPS for the current year. Finally, Needham & Company LLC increased their target price on Mongodb from $57.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, September 4th.

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CIBC’s price objective suggests a potential upside of 16.30% from the stock’s current price. Finally, Morgan Stanley upped their price target on Mongodb from $41.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 30th. In related news, Director Kevin P. Ryan sold 24,000 shares of the stock in a transaction dated Wednesday, October 17th. Whale Rock Capital Management LLC now owns 3,830,271 shares of the company’s stock worth $190,096,000 after purchasing an additional 3,273,409 shares in the last quarter. Northern Trust Corp grew its position in shares of Mongodb by 26.0% during the first quarter. Northern Trust Corp now owns 19,672 shares of the company’s stock worth $854,000 after purchasing an additional 4,060 shares in the last quarter.

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New License Leads the Way for Open Source in the Cloud Era. All versions of MongoDB’s Community Server released after today, including patch fixes for prior versions, will be licensed under the SSPL. MongoDB was previously licensed under the GNU AGPLv3 (AGPL), which meant companies who wanted to modify and run MongoDB as a publicly available service had to open source their software or obtain a commercial license from MongoDB. However, MongoDB’s popularity has led some organizations to test the boundaries of the AGPL. Unfortunately, once an open source project becomes interesting, it is too easy for cloud vendors who have not developed the software to capture all of the value while contributing little back to the community,” said Eliot Horowitz, CTO and co-founder, MongoDB.

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The shares were sold at an average price of $83.77, for a total transaction of $8,377,000.00. The company’s revenue for the quarter was up 61.5% compared to the same quarter last year. As a group, analysts predict that Mongodb Inc will post -2.24 EPS for the current fiscal year. Whale Rock Capital Management LLC now owns 3,830,271 shares of the company’s stock worth $190,096,000 after purchasing an additional 3,273,409 shares in the last quarter. Nomura downgraded shares of Mongodb from a “neutral” rating to a “reduce” rating and lifted their price objective for the company from $43.00 to $63.00 in a research report on Tuesday, October 2nd.

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BenzingaOctober 10, 2018, 2:11 PM GMT. Software developer company, MongoDB, Inc. (NASDAQ: MDB) operates in a competitive landscape among huge players like Microsoft Corp. (NASDAQ: MSFT), Amazon.com, Inc. (NASDAQ: AMZN) and IBM (NYSE: IBM). The software company announced a definitive agreement to acquire cloud database service mLab. The acquisition is expected to close in the fourth quarter of fiscal 2019 and gives mLab a better opportunity to develop relationships with startup communities, per the press release. “There is a trend toward building software systems via microservices and deploying those systems in the cloud. As this trend continues, we anticipate it will open enormous market opportunities for global cloud databases, and MongoDB will be well-positioned to power these types of software systems in ways that other database technologies cannot.”.

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October 09, 2018 16:05 ET | Source:MongoDB, Inc. NEW YORK, Oct. 09, 2018 (GLOBE NEWSWIRE) -- Today MongoDB, Inc. (Nasdaq: MDB), the leading modern, general purpose database platform, announced it has entered into a definitive agreement to acquire mLab, a San Francisco-based cloud database service. MongoDB’s acquisition of mLab will help deepen its relationships with developer-centric startup communities, a segment with which mLab has been very successful. Atlas enables users to deploy, manage, and scale MongoDB on Amazon Web Services, Microsoft Azure, and Google Cloud Platform in a few clicks or API calls. Furthermore, actual results may differ materially from those described in the forward-looking statements and are subject to a variety of assumptions, uncertainties, risks and factors that are beyond its control including, without limitation: the risk that the transaction may not be completed in a timely manner or at all; failure to achieve the expected benefits of the transaction; its ability to implement its plans, objectives and other expectations with respect to mLab’s business; negative effects of the announcement or the consummation of the transaction on our business operations, operating results or share price; significant transaction costs; unknown liabilities; its limited operating history; failure of our database platform to satisfy customer demands; the effects of increased competition; its ability to effectively expand its sales and marketing organization; its ability to continue to build and maintain credibility with the developer community; its ability to add new customers or increase sales to its existing customers; its ability to maintain, protect, enforce and enhance its intellectual property; the growth and expansion of the market for database products and its ability to penetrate that market; its ability to maintain the security of our software and adequately address privacy concerns; its ability to manage our growth effectively and successfully recruit additional highly-qualified personnel; the price volatility of MongoDB’s common stock; and those risks detailed from time-to-time under the caption “Risk Factors” and elsewhere in MongoDB’s Securities and Exchange Commission filings and reports, including its Annual Report on Form 10-K filed on March 30, 2018, as well as future filings and reports by MongoDB.

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BenzingaOctober 3, 2018, 6:39 PM GMT. As it closes out its first year on the public markets, Mongodb Inc (NASDAQ: MDB) is celebrating 137-percent growth in value — a trajectory experts expect to soon stabilize. Davidson analyst Rishi Jaluria initiated coverage with a Neutral rating and $80 price target. Davidson considers MongoDB’s run and peer premium justified given the firm’s high growth rate and significant market opportunity. But while bullish long term, the analyst anticipates a near-term pullback in the “fully valued” shares. “We like MongoDB’s strong value proposition and believe the company is well-positioned to benefit from companies modernizing their database technologies and moving workloads from legacy on-premise relational databases, including Oracle, to next-generation solutions, including MongoDB, that are significantly less expensive and document-based,” Jaluria wrote.

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MongoDB, Inc. to Present at Deutsche Bank’s Technology Conference. September 11, 2018 16:05 ET | Source:MongoDB, Inc. NEW YORK, Sept. 11, 2018 (GLOBE NEWSWIRE) -- MongoDB, Inc. (NASDAQ: MDB), the leading modern, general purpose database platform, today announced that its Chief Financial Officer, Michael Gordon, will present at the Deutsche Bank Technology Conference in Las Vegas. A live webcast of the presentation will be available on the Events page of the MongoDB investor relations website at https://investors.mongodb.com/events-and-presentations/events. MongoDB is the leading modern, general purpose database platform, designed to unleash the power of software and data for developers and the applications they build.

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