MongoDB (NASDAQ:MDB) Downgraded to “Hold” Rating by Wall Street Zen

MongoDB (NASDAQ:MDB) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Other equities analysts also recently issued research reports about the company. Barclays upped their target price on MongoDB from $305.00 to $345.00 and gave the company an “overweight” rating in a research report on Thursday, September 18th. Oppenheimer upped their price objective on MongoDB from $325.00 to $385.00 and gave the company an “outperform” rating in a report on Thursday, September 18th. The Goldman Sachs Group increased their price objective on MongoDB from $325.00 to $370.00 and gave the stock a “buy” rating in a research report on Thursday, September 18th. Guggenheim reissued a “neutral” rating and issued a $400.00 target price on shares of MongoDB in a research report on Tuesday, November 18th. Finally, Royal Bank Of Canada raised their price target on shares of MongoDB from $350.00 to $405.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $355.39.

MongoDB Price Performance

Shares of MDB opened at $332.81 on Friday. The company’s 50-day moving average is $333.41 and its 200-day moving average is $266.90. The firm has a market capitalization of $27.08 billion, a PE ratio of -339.60 and a beta of 1.52. MongoDB has a fifty-two week low of $140.78 and a fifty-two week high of $385.44.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Tuesday, August 26th. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($1.04). The company had revenue of $591.40 million during the quarter, compared to analyst estimates of $553.23 million. MongoDB had a negative net margin of 3.54% and a negative return on equity of 1.67%. The firm’s quarterly revenue was up 23.7% on a year-over-year basis. During the same quarter last year, the company posted $0.70 EPS. Analysts predict that MongoDB will post -1.78 earnings per share for the current fiscal year.

Insider Activity at MongoDB

In other MongoDB news, Director Hope F. Cochran sold 1,174 shares of the company’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $327.93, for a total value of $384,989.82. Following the transaction, the director directly owned 24,308 shares in the company, valued at approximately $7,971,322.44. This represents a 4.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dwight A. Merriman sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $320.15, for a total transaction of $8,003,750.00. Following the completion of the transaction, the director directly owned 1,079,316 shares of the company’s stock, valued at approximately $345,543,017.40. This represents a 2.26% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 91,172 shares of company stock valued at $29,794,336. 3.10% of the stock is owned by insiders.

Hedge Funds Weigh In On MongoDB

Institutional investors have recently added to or reduced their stakes in the business. Meiji Yasuda Asset Management Co Ltd. boosted its stake in MongoDB by 3.8% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,101 shares of the company’s stock worth $342,000 after buying an additional 40 shares during the last quarter. Brooklyn Investment Group lifted its holdings in shares of MongoDB by 7.4% during the 3rd quarter. Brooklyn Investment Group now owns 679 shares of the company’s stock worth $211,000 after acquiring an additional 47 shares during the period. Huntington National Bank boosted its position in shares of MongoDB by 110.9% in the third quarter. Huntington National Bank now owns 97 shares of the company’s stock worth $30,000 after acquiring an additional 51 shares during the last quarter. GAMMA Investing LLC grew its holdings in MongoDB by 46.2% in the third quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock valued at $53,000 after purchasing an additional 54 shares during the period. Finally, Westside Investment Management Inc. grew its holdings in MongoDB by 82.1% in the third quarter. Westside Investment Management Inc. now owns 122 shares of the company’s stock valued at $39,000 after purchasing an additional 55 shares during the period. 89.29% of the stock is currently 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.