MongoDB (NASDAQ:MDB) Upgraded to “Buy” at Wall Street Zen

MongoDB (NASDAQ:MDB) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Sunday.

Several other brokerages have also recently commented on MDB. Needham & Company LLC dropped their target price on shares of MongoDB from $500.00 to $300.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Citizens Jmp boosted their target price on MongoDB from $435.00 to $475.00 and gave the stock a “market outperform” rating in a research report on Tuesday, December 2nd. Piper Sandler lowered their price target on MongoDB from $490.00 to $330.00 and set an “overweight” rating for the company in a research note on Tuesday, March 3rd. Royal Bank Of Canada cut their price target on shares of MongoDB from $500.00 to $395.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 3rd. Finally, Guggenheim restated a “buy” rating and set a $475.00 price objective on shares of MongoDB in a report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $354.18.

MongoDB Trading Down 0.1%

MongoDB stock opened at $260.50 on Friday. MongoDB has a 1 year low of $140.78 and a 1 year high of $444.72. The company has a market cap of $21.20 billion, a PE ratio of -296.02 and a beta of 1.40. The company’s 50-day moving average is $354.08 and its two-hundred day moving average is $353.70.

MongoDB (NASDAQ:MDB) last issued its earnings results on Monday, March 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.18. The company had revenue of $695.07 million for the quarter, compared to analyst estimates of $669.40 million. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. The company’s revenue for the quarter was up 26.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.28 EPS. Research analysts forecast that MongoDB will post -1.78 EPS for the current year.

Insider Buying and Selling

In other MongoDB news, Director Hope F. Cochran sold 1,566 shares of the business’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $421.85, for a total transaction of $660,617.10. Following the sale, the director directly owned 25,659 shares of the company’s stock, valued at $10,824,249.15. The trade was a 5.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Dwight A. Merriman sold 1,190 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $369.75, for a total transaction of $440,002.50. Following the transaction, the director owned 80,462 shares of the company’s stock, valued at approximately $29,750,824.50. This represents a 1.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 21,949 shares of company stock worth $8,981,630. 3.10% of the stock is owned by insiders.

Institutional Investors Weigh In On MongoDB

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Cornerstone Planning Group LLC grew its stake in shares of MongoDB by 1,220.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 66 shares of the company’s stock valued at $27,000 after buying an additional 61 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in MongoDB during the fourth quarter worth $28,000. Huntington National Bank lifted its stake in MongoDB by 110.9% in the third quarter. Huntington National Bank now owns 97 shares of the company’s stock valued at $30,000 after acquiring an additional 51 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in MongoDB in the fourth quarter valued at $33,000. Finally, Promus Capital LLC bought a new position in shares of MongoDB in the 2nd quarter valued at about $36,000. Institutional investors own 89.29% of the company’s stock.

MongoDB Company Profile

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.