MongoDB (NASDAQ:MDB) Receives New Coverage from Analysts at KeyCorp

KeyCorp began coverage on shares of MongoDB (NASDAQ:MDBGet Rating) in a report published on Monday morning, MarketBeat reports. The brokerage issued an overweight rating and a $215.00 target price on the stock.

A number of other equities research analysts also recently weighed in on MDB. Redburn Partners raised MongoDB from a sell rating to a neutral rating in a report on Tuesday, October 18th. UBS Group decreased their price target on MongoDB from $430.00 to $390.00 and set a buy rating on the stock in a research note on Thursday, September 1st. The Goldman Sachs Group dropped their price objective on MongoDB to $430.00 in a research note on Tuesday, September 6th. Morgan Stanley lowered shares of MongoDB from an overweight rating to an equal weight rating and lowered their target price for the stock from $368.00 to $215.00 in a report on Monday. Finally, Stifel Nicolaus cut their price target on shares of MongoDB from $340.00 to $320.00 and set a buy rating for the company in a report on Thursday, September 1st. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $345.90.

MongoDB Price Performance

Shares of NASDAQ:MDB opened at $147.02 on Monday. The firm has a market capitalization of $10.10 billion, a PE ratio of -27.43 and a beta of 1.07. The company has a current ratio of 4.02, a quick ratio of 4.02 and a debt-to-equity ratio of 1.70. MongoDB has a 1-year low of $135.15 and a 1-year high of $570.58. The business’s 50 day moving average is $186.71 and its 200-day moving average is $253.27.

MongoDB (NASDAQ:MDBGet Rating) last posted its quarterly earnings results on Wednesday, August 31st. The company reported ($1.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.52) by ($0.17). MongoDB had a negative return on equity of 52.05% and a negative net margin of 33.43%. The business had revenue of $303.66 million for the quarter, compared to analyst estimates of $282.31 million. During the same quarter in the prior year, the firm earned ($1.15) EPS. The firm’s quarterly revenue was up 52.8% on a year-over-year basis. Sell-side analysts predict that MongoDB will post -5.37 earnings per share for the current year.

Insider Transactions at MongoDB

In other MongoDB news, Director Archana Agrawal sold 663 shares of the company’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $345.55, for a total transaction of $229,099.65. Following the completion of the sale, the director now owns 2,080 shares in the company, valued at approximately $718,744. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Dev Ittycheria sold 16,991 shares of MongoDB stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $250.66, for a total transaction of $4,258,964.06. Following the transaction, the chief executive officer now owns 199,753 shares of the company’s stock, valued at approximately $50,070,086.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Archana Agrawal sold 663 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $345.55, for a total transaction of $229,099.65. Following the transaction, the director now owns 2,080 shares of the company’s stock, valued at approximately $718,744. The disclosure for this sale can be found here. Insiders sold a total of 87,665 shares of company stock worth $19,034,603 in the last quarter. 5.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On MongoDB

Hedge funds and other institutional investors have recently made changes to their positions in the company. Independent Advisor Alliance lifted its holdings in MongoDB by 21.2% during the first quarter. Independent Advisor Alliance now owns 531 shares of the company’s stock worth $236,000 after acquiring an additional 93 shares in the last quarter. Venture Visionary Partners LLC acquired a new stake in shares of MongoDB during the second quarter worth about $28,000. Park Avenue Securities LLC bought a new position in shares of MongoDB during the 1st quarter valued at about $232,000. Level Four Advisory Services LLC acquired a new position in shares of MongoDB in the 1st quarter valued at approximately $480,000. Finally, Prospera Financial Services Inc acquired a new position in shares of MongoDB in the 1st quarter valued at approximately $927,000. 89.85% of the stock is owned by institutional investors.

About MongoDB

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MongoDB, Inc provides general purpose database platform worldwide. The company offers MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.

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