MongoDB’s (MDB) “Buy” Rating Reaffirmed at Guggenheim

Guggenheim reiterated their buy rating on shares of MongoDB (NASDAQ:MDB) in a report released on Tuesday,Benzinga reports. They currently have a $475.00 price objective on the stock.

A number of other research analysts have also recently issued reports on MDB. Zacks Research cut MongoDB from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 31st. Wedbush reduced their target price on MongoDB from $440.00 to $380.00 and set an “outperform” rating for the company in a report on Tuesday, March 3rd. Piper Sandler reduced their target price on MongoDB from $490.00 to $330.00 and set an “overweight” rating for the company in a report on Tuesday, March 3rd. Monness Crespi & Hardt reduced their target price on MongoDB from $475.00 to $370.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Finally, Robert W. Baird reissued a “neutral” rating and issued a $260.00 target price (down from $500.00) on shares of MongoDB in a report on Tuesday, March 3rd. Twenty-seven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $360.03.

MongoDB Trading Down 1.1%

Shares of NASDAQ:MDB opened at $233.50 on Tuesday. The stock has a fifty day simple moving average of $288.43 and a two-hundred day simple moving average of $343.00. The stock has a market capitalization of $18.77 billion, a price-to-earnings ratio of -265.34 and a beta of 1.60. MongoDB has a 12-month low of $148.88 and a 12-month high of $444.72.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Monday, March 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.18. The business had revenue of $695.07 million during the quarter, compared to analysts’ expectations of $669.40 million. MongoDB had a negative return on equity of 1.03% and a negative net margin of 2.89%.The firm’s quarterly revenue was up 26.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.28 earnings per share. As a group, equities research analysts predict that MongoDB will post -1.78 EPS for the current year.

Insider Buying and Selling at MongoDB

In related news, Director Dwight A. Merriman sold 1,190 shares of MongoDB stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $369.75, for a total value of $440,002.50. Following the completion of the sale, the director owned 80,462 shares of the company’s stock, valued at $29,750,824.50. The trade was a 1.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Hope F. Cochran sold 1,566 shares of MongoDB stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $249.33, for a total value of $390,450.78. Following the completion of the sale, the director directly owned 24,093 shares of the company’s stock, valued at $6,007,107.69. The trade was a 6.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 3,895 shares of company stock valued at $1,272,738 in the last ninety days. 3.10% of the stock is currently owned by corporate insiders.

Institutional Trading of MongoDB

Large investors have recently modified their holdings of the company. Cornerstone Planning Group LLC grew its holdings 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 worth $27,000 after acquiring an additional 61 shares during the period. Central Pacific Bank Trust Division bought a new stake in shares of MongoDB in the fourth quarter worth $28,000. Huntington National Bank grew its holdings 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 period. International Assets Investment Management LLC bought a new stake in shares of MongoDB in the fourth quarter worth $33,000. Finally, TD Private Client Wealth LLC grew its holdings in shares of MongoDB by 2,825.0% in the third quarter. TD Private Client Wealth LLC now owns 117 shares of the company’s stock worth $36,000 after acquiring an additional 113 shares during the period. Institutional investors own 89.29% of the company’s stock.

About MongoDB

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.