MongoDB, Inc. (NASDAQ:MDB) Receives Average Recommendation of “Buy” from Brokerages

Shares of MongoDB, Inc. (NASDAQ:MDB – Get Rating) have been assigned a consensus recommendation of “Buy” from the nineteen research firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $480.00.

A number of equities analysts have weighed in on the stock. Canaccord Genuity Group decreased their price objective on shares of MongoDB from $560.00 to $400.00 in a research report on Wednesday, March 9th. Morgan Stanley reduced their target price on shares of MongoDB from $475.00 to $378.00 and set an “overweight” rating for the company in a report on Thursday, May 19th. UBS Group upgraded shares of MongoDB from a “neutral” rating to a “buy” rating and increased their target price for the stock from $345.00 to $450.00 in a research report on Friday, March 18th. Credit Suisse Group lowered their target price on shares of MongoDB from $700.00 to $650.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 9th. Finally, Oppenheimer cut their price target on MongoDB from $510.00 to $410.00 in a report on Wednesday, March 9th.

In other news, CEO Dev Ittycheria sold 35,000 shares of MongoDB stock in a transaction on Friday, March 4th. The stock was sold at an average price of $309.78, for a total value of $10,842,300.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CRO Cedric Pech sold 309 shares of MongoDB stock in a transaction on Monday, April 4th. The shares were sold at an average price of $443.77, for a total value of $137,124.93. Following the completion of the transaction, the executive now owns 46,135 shares in the company, valued at $20,473,328.95. The disclosure for this sale can be found here. Insiders sold a total of 124,475 shares of company stock valued at $43,717,816 over the last ninety days. Corporate insiders own 7.40% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Massachusetts Financial Services Co. MA lifted its holdings in MongoDB by 0.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 6,657 shares of the company’s stock valued at $3,139,000 after acquiring an additional 31 shares during the last quarter. O Shaughnessy Asset Management LLC increased its holdings in MongoDB by 5.8% in the third quarter. O Shaughnessy Asset Management LLC now owns 905 shares of the company’s stock valued at $427,000 after buying an additional 50 shares during the last quarter. California Public Employees Retirement System grew its holdings in shares of MongoDB by 15.4% during the third quarter. California Public Employees Retirement System now owns 121,525 shares of the company’s stock worth $57,300,000 after purchasing an additional 16,196 shares during the last quarter. US Bancorp DE grew its holdings in shares of MongoDB by 24.9% during the third quarter. US Bancorp DE now owns 1,906 shares of the company’s stock worth $899,000 after purchasing an additional 380 shares during the last quarter. Finally, BOKF NA purchased a new position in shares of MongoDB during the third quarter worth about $1,099,000. Institutional investors own 88.70% of the company’s stock.

MongoDB stock traded up $2.27 during midday trading on Friday, reaching $233.06. The company’s stock had a trading volume of 2,406,057 shares, compared to its average volume of 1,426,774. MongoDB has a fifty-two week low of $213.39 and a fifty-two week high of $590.00. The company has a quick ratio of 4.02, a current ratio of 4.02 and a debt-to-equity ratio of 1.70. The company has a market cap of $15.75 billion, a P/E ratio of -46.16 and a beta of 0.98. The business has a 50-day simple moving average of $358.80 and a 200-day simple moving average of $415.12.

MongoDB (NASDAQ:MDB – Get Rating) last released its quarterly earnings results on Tuesday, March 8th. The company reported ($1.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.25) by $0.05. The firm had revenue of $266.50 million for the quarter, compared to analyst estimates of $243.42 million. MongoDB had a negative return on equity of 66.70% and a negative net margin of 35.12%. The business’s revenue was up 55.8% on a year-over-year basis. During the same quarter last year, the company posted ($1.01) earnings per share. As a group, equities analysts forecast that MongoDB will post -5.48 earnings per share for the current year.

MongoDB Company Profile (Get Rating)

MongoDB, Inc provides general purpose database platform worldwide. The company offers MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.

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