MongoDB (NASDAQ:MDB) Research Coverage Started at Macquarie

Macquarie assumed coverage on shares of MongoDB (NASDAQ:MDB) in a research report report published on Thursday morning, MarketBeat.com reports. The brokerage issued a neutral rating and a $300.00 price objective on the stock.

Several other analysts have also recently weighed in on MDB. Truist Financial reaffirmed a “buy” rating and set a $400.00 price objective (up from $320.00) on shares of MongoDB in a research report on Tuesday, December 10th. Loop Capital increased their target price on MongoDB from $315.00 to $400.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Canaccord Genuity Group lifted their target price on shares of MongoDB from $325.00 to $385.00 and gave the stock a “buy” rating in a research report on Wednesday. Citigroup increased their price objective on shares of MongoDB from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Finally, Wedbush raised MongoDB to a “strong-buy” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $370.08.

MongoDB Trading Down 7.4 %

Shares of NASDAQ MDB opened at $267.19 on Thursday. The business has a 50-day moving average of $293.17 and a 200-day moving average of $268.08. The firm has a market capitalization of $19.74 billion, a price-to-earnings ratio of -97.51 and a beta of 1.17. MongoDB has a 12 month low of $212.74 and a 12 month high of $509.62.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings results on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.48. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business had revenue of $529.40 million during the quarter, compared to analyst estimates of $497.39 million. During the same period in the prior year, the business posted $0.96 earnings per share. The company’s revenue was up 22.3% on a year-over-year basis. On average, analysts predict that MongoDB will post -2.29 earnings per share for the current year.

Insiders Place Their Bets

In other MongoDB news, CEO Dev Ittycheria sold 3,556 shares of MongoDB stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total transaction of $911,225.00. Following the completion of the sale, the chief executive officer now directly owns 219,875 shares of the company’s stock, valued at $56,342,968.75. The trade was a 1.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Thomas Bull sold 154 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total transaction of $39,462.50. Following the transaction, the chief accounting officer now directly owns 16,068 shares in the company, valued at $4,117,425. This trade represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,600 shares of company stock valued at $7,611,849 over the last ninety days. 3.60% of the stock is owned by insiders.

Institutional Trading of MongoDB

A number of hedge funds have recently bought and sold shares of MDB. MFA Wealth Advisors LLC purchased a new position in shares of MongoDB in the 2nd quarter valued at approximately $25,000. Quarry LP boosted its stake in shares of MongoDB by 2,580.0% in the second quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after acquiring an additional 129 shares during the last quarter. Hantz Financial Services Inc. purchased a new stake in shares of MongoDB during the second quarter worth $35,000. Brooklyn Investment Group purchased a new position in MongoDB in the 3rd quarter worth approximately $36,000. Finally, GAMMA Investing LLC grew its holdings in MongoDB by 178.8% in the 3rd quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock valued at $39,000 after buying an additional 93 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

MongoDB Company Profile

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.