Wells Fargo & Company Initiates Coverage on MongoDB (NASDAQ:MDB)

Equities researchers at Wells Fargo & Company assumed coverage on shares of MongoDB (NASDAQ:MDB) in a research report issued on Thursday, MarketBeat.com reports. The firm set an “overweight” rating and a $500.00 price target on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 27.37% from the company’s previous close.

Several other research analysts also recently issued reports on MDB. Scotiabank began coverage on shares of MongoDB in a research report on Tuesday, October 10th. They set a “sector perform” rating and a $335.00 price objective on the stock. Morgan Stanley raised their price objective on shares of MongoDB from $440.00 to $480.00 and gave the stock an “overweight” rating in a research report on Friday, September 1st. Needham & Company LLC raised their price objective on shares of MongoDB from $430.00 to $445.00 and gave the stock a “buy” rating in a research report on Friday, September 1st. Stifel Nicolaus raised their target price on shares of MongoDB from $420.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, September 1st. Finally, Capital One Financial upgraded shares of MongoDB from an “equal weight” rating to an “overweight” rating and set a $427.00 target price for the company in a research note on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, MongoDB presently has a consensus rating of “Moderate Buy” and a consensus target price of $419.74.

MongoDB Trading Up 0.9 %

NASDAQ MDB opened at $392.57 on Thursday. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.48 and a quick ratio of 4.48. The firm’s fifty day moving average price is $354.09 and its 200 day moving average price is $355.78. The company has a market capitalization of $28.01 billion, a price-to-earnings ratio of -113.46 and a beta of 1.16. MongoDB has a 12 month low of $137.70 and a 12 month high of $439.00.

MongoDB (NASDAQ:MDB) last posted its earnings results on Thursday, August 31st. The company reported ($0.63) EPS for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.07. The firm had revenue of $423.79 million for the quarter, compared to the consensus estimate of $389.93 million. MongoDB had a negative net margin of 16.21% and a negative return on equity of 29.69%. On average, sell-side analysts expect that MongoDB will post -2.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other MongoDB news, CRO Cedric Pech sold 308 shares of MongoDB stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $326.27, for a total transaction of $100,491.16. Following the completion of the transaction, the executive now owns 34,110 shares in the company, valued at $11,129,069.70. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CRO Cedric Pech sold 308 shares of MongoDB stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $326.27, for a total transaction of $100,491.16. Following the completion of the sale, the executive now directly owns 34,110 shares in the company, valued at $11,129,069.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Dwight A. Merriman sold 2,000 shares of MongoDB stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $365.30, for a total transaction of $730,600.00. Following the sale, the director now owns 1,189,159 shares of the company’s stock, valued at $434,399,782.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 289,484 shares of company stock worth $101,547,167. Insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On MongoDB

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Jacobs Levy Equity Management Inc. purchased a new stake in MongoDB in the third quarter valued at approximately $2,453,000. Creative Planning grew its holdings in MongoDB by 2.3% in the third quarter. Creative Planning now owns 5,139 shares of the company’s stock valued at $1,777,000 after purchasing an additional 114 shares during the period. Jag Capital Management LLC purchased a new stake in MongoDB in the third quarter valued at approximately $424,000. Mercer Global Advisors Inc. ADV grew its holdings in MongoDB by 10.1% in the third quarter. Mercer Global Advisors Inc. ADV now owns 11,521 shares of the company’s stock valued at $3,985,000 after purchasing an additional 1,060 shares during the period. Finally, Toroso Investments LLC grew its holdings in MongoDB by 10.3% in the third quarter. Toroso Investments LLC now owns 3,010 shares of the company’s stock valued at $1,041,000 after purchasing an additional 281 shares during the period. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

MongoDB Company Profile

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