MongoDB’s (MDB) “Outperform” Rating Reaffirmed at William Blair

William Blair reiterated their outperform rating on shares of MongoDB (NASDAQ:MDB) in a report released on Thursday morning,RTT News reports.

A number of other equities research analysts have also issued reports on the company. Cantor Fitzgerald increased their price target on MongoDB from $252.00 to $271.00 and gave the company an “overweight” rating in a research report on Thursday, June 5th. Morgan Stanley reduced their target price on shares of MongoDB from $315.00 to $235.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Mizuho decreased their price target on shares of MongoDB from $250.00 to $190.00 and set a “neutral” rating for the company in a research note on Tuesday, April 15th. Robert W. Baird dropped their price objective on shares of MongoDB from $390.00 to $300.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Finally, Macquarie reaffirmed a “neutral” rating and set a $230.00 price objective (up from $215.00) on shares of MongoDB in a research report on Friday, June 6th. Eight equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $282.47.

MongoDB Price Performance

Shares of MongoDB stock opened at $209.20 on Thursday. The business has a 50-day moving average of $188.81 and a 200 day moving average of $219.23. MongoDB has a 12 month low of $140.78 and a 12 month high of $370.00. The stock has a market capitalization of $17.09 billion, a price-to-earnings ratio of -183.51 and a beta of 1.39.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.35. MongoDB had a negative net margin of 4.09% and a negative return on equity of 3.16%. The business had revenue of $549.01 million for the quarter, compared to analysts’ expectations of $527.49 million. During the same quarter in the prior year, the company earned $0.51 earnings per share. The business’s quarterly revenue was up 21.8% on a year-over-year basis. Equities research analysts anticipate that MongoDB will post -1.78 earnings per share for the current year.

Insider Buying and Selling at MongoDB

In other MongoDB news, CAO Thomas Bull sold 301 shares of MongoDB stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $173.25, for a total value of $52,148.25. Following the sale, the chief accounting officer now owns 14,598 shares of the company’s stock, valued at approximately $2,529,103.50. The trade was a 2.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dev Ittycheria sold 25,005 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $234.00, for a total value of $5,851,170.00. Following the transaction, the chief executive officer now owns 256,974 shares in the company, valued at $60,131,916. The trade was a 8.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,382 shares of company stock valued at $10,403,807 in the last ninety days. Insiders own 3.10% of the company’s stock.

Institutional Trading of MongoDB

Hedge funds have recently modified their holdings of the business. Swedbank AB increased its holdings in shares of MongoDB by 2.2% in the 1st quarter. Swedbank AB now owns 615,593 shares of the company’s stock valued at $107,975,000 after purchasing an additional 13,100 shares in the last quarter. Acadian Asset Management LLC grew its position in MongoDB by 181.8% during the first quarter. Acadian Asset Management LLC now owns 562,190 shares of the company’s stock worth $98,586,000 after buying an additional 362,705 shares during the period. IFM Investors Pty Ltd increased its holdings in MongoDB by 4.3% in the first quarter. IFM Investors Pty Ltd now owns 13,796 shares of the company’s stock valued at $2,420,000 after buying an additional 569 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of MongoDB by 11.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,271,444 shares of the company’s stock valued at $223,011,000 after acquiring an additional 129,451 shares during the period. Finally, Woodline Partners LP boosted its stake in shares of MongoDB by 30,297.0% during the 1st quarter. Woodline Partners LP now owns 322,208 shares of the company’s stock worth $56,515,000 after acquiring an additional 321,148 shares in the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

About MongoDB

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.