MongoDB, Inc. (NASDAQ:MDB) Given Consensus Rating of “Moderate Buy” by Brokerages

MongoDB, Inc. (NASDAQ:MDB) has been assigned a consensus rating of “Moderate Buy” from the thirty-two ratings firms that are presently covering the company, Marketbeat reports. Seven research analysts have rated the stock with a hold recommendation, twenty-four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $312.84.

A number of research analysts have recently commented on the stock. Canaccord Genuity Group dropped their target price on shares of MongoDB from $385.00 to $320.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Barclays dropped their price objective on shares of MongoDB from $330.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. Loop Capital cut their target price on shares of MongoDB from $400.00 to $350.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Truist Financial dropped their price target on MongoDB from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Finally, UBS Group set a $350.00 price objective on MongoDB in a research report on Tuesday, March 4th.

MongoDB Stock Performance

Shares of NASDAQ MDB opened at $154.39 on Friday. The stock has a market capitalization of $12.53 billion, a P/E ratio of -56.35 and a beta of 1.49. The stock’s fifty day moving average is $236.68 and its 200 day moving average is $262.08. MongoDB has a 52 week low of $151.52 and a 52 week high of $387.19.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). The firm had revenue of $548.40 million during the quarter, compared to the consensus estimate of $519.65 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. During the same period last year, the business earned $0.86 earnings per share. Equities research analysts forecast that MongoDB will post -1.78 earnings per share for the current year.

Insider Buying and Selling at MongoDB

In other MongoDB news, CEO Dev Ittycheria sold 8,335 shares of the business’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $254.86, for a total transaction of $2,124,258.10. Following the completion of the sale, the chief executive officer now owns 217,294 shares in the company, valued at approximately $55,379,548.84. The trade was a 3.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Thomas Bull sold 301 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $173.25, for a total transaction of $52,148.25. Following the completion of the transaction, the chief accounting officer now directly owns 14,598 shares in the company, valued at $2,529,103.50. This trade represents a 2.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,060 shares of company stock valued at $13,461,875. Corporate insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Strategic Investment Solutions Inc. IL purchased a new position in shares of MongoDB during the fourth quarter valued at approximately $29,000. Hilltop National Bank raised its holdings in shares of MongoDB by 47.2% in the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock valued at $30,000 after purchasing an additional 42 shares during the last quarter. Continuum Advisory LLC lifted its position in shares of MongoDB by 621.1% during the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after purchasing an additional 118 shares in the last quarter. NCP Inc. purchased a new position in MongoDB during the fourth quarter worth about $35,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in MongoDB in the 3rd quarter worth about $44,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

MongoDB Company Profile

MongoDB, Inc, together with its subsidiaries, provides general purpose database platform worldwide. The company provides 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-premises, 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.