MongoDB (MDB) to Report Q4 Earnings: What's in the Offing?
MongoDB MDB is set to report fourth-quarter fiscal 2023 results on Mar 8.
For fourth-quarter fiscal 2023, MongoDB expects revenues between $334 million and $337 million. The Zacks Consensus Estimate for revenues is currently pegged at $335.84 million, indicating growth of 26.02% year over year.
The non-GAAP income from operations is anticipated in the range of $6-$8 million. Non-GAAP net income per share is estimated between 6 cents and 8 cents per share. For the quarter, the consensus mark for income has remained steady at 7 cents per share in the past 30 days, indicating growth of 177.78% year over year.
Let’s see how things have shaped up for MongoDB for the upcoming announcement.
MongoDB, Inc. Price and EPS Surprise
MongoDB, Inc. price-eps-surprise | MongoDB, Inc. Quote
Factors to Consider
MongoDB’s fiscal fourth-quarter performance is expected to have benefited from being the most popular data platform for developers. In the last quarter, there were 300,000 sign-ups for Atlas free tier, which is fifteen times more than in the last five years.
In third-quarter fiscal 2023, the company’s Atlas revenues soared 61.2% year over year, contributing 63% to total revenues. Atlas had more than 37,600 customers at the end of the reported quarter, adding 8,100 customers year over year.
Management is focused on acquiring new customers as well as cross selling to existing customers and retaining them. It is observed that the existing customers are adopting to new features of the company which are introduced to the marketplace.
MongoDB has partnerships with hyperscale vendors like Amazon’s cloud division, Amazon Web Services, Alphabet’s Google Cloud Platform and Microsoft’s Azure.
MongoDB was identified as a competitor by the hyperscalers in the early days. The value offered by the company was not only accepted by the customers but the hyperscalers also.
MongoDB and these hyperscale vendors have committed to provide a broad range of offerings to customers and enable them to switch easily from one to another.
Customers can go to all three hyperscale’s console and sign up for Atlas. This helps the company reach a new customer base and increase their awareness. There are not many companies who are available in all three hyperscalers console.
MongoDB recently announced that it achieved the formal FedRAMP Moderate Authorized designation for MongoDB Atlas for Government. MongoDB Atlas provides software tools and services for U.S. government.
What Our Model Suggests
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
MongoDB has an Earnings ESP of 0.00% and a Zacks Rank #2. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Other Stocks to Consider
Here are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle:
Vertix VERX has an Earnings ESP of +11.11% and carries a Zacks Rank of #1, at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Vertix shares are up 18.6% in the past year. VERX is set to report its fourth-quarter fiscal 2022 results on Mar 8.
Catalyst Pharmaceuticals CPRX has an Earnings ESP of +6.8% and a Zacks Rank #1.
Catalyst Pharmaceuticals shares have jumped 93.9% in the past year. CPRX is set to report its fourth-quarter 2022 results on Mar 15.
Central Valley Community Bancorp CVCY has an Earnings ESP of +6.98% and a Zacks Rank #1.
Central Valley Community Bancorp shares are 9.1% in the past year. CVCY is set to report its first-quarter 2023 results on Apr 19.
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