Guggenheim Upgrades MongoDB (NASDAQ:MDB) to Buy

MongoDB (NASDAQ:MDB) was upgraded by Guggenheim from a “neutral” rating to a “buy” rating in a note issued to investors on Monday, Marketbeat Ratings reports. The firm presently has a $300.00 price target on the stock. Guggenheim’s target price indicates a potential upside of 21.97% from the stock’s current price.

A number of other research firms have also recently commented on MDB. Mizuho increased their target price on MongoDB from $275.00 to $320.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Piper Sandler reissued an “overweight” rating and set a $425.00 price objective on shares of MongoDB in a research report on Tuesday, December 10th. Needham & Company LLC lifted their target price on shares of MongoDB from $335.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Morgan Stanley increased their price target on shares of MongoDB from $340.00 to $350.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Finally, Rosenblatt Securities assumed coverage on shares of MongoDB in a research report on Tuesday, December 17th. They set a “buy” rating and a $350.00 price target for the company. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $367.14.

MongoDB Trading Down 2.7 %

MDB opened at $245.96 on Monday. The company has a market cap of $18.32 billion, a price-to-earnings ratio of -89.77 and a beta of 1.25. The stock has a fifty day simple moving average of $284.11 and a two-hundred day simple moving average of $269.17. MongoDB has a 12-month low of $212.74 and a 12-month high of $509.62.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, topping 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 company had revenue of $529.40 million during the quarter, compared to analyst estimates of $497.39 million. During the same period last year, the business earned $0.96 EPS. MongoDB’s quarterly revenue was up 22.3% compared to the same quarter last year. On average, analysts predict that MongoDB will post -1.86 EPS for the current year.

Insider Transactions at MongoDB

In other MongoDB news, insider Cedric Pech sold 287 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $67,183.83. Following the sale, the insider now directly owns 24,390 shares of the company’s stock, valued at $5,709,455.10. This trade represents a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dwight A. Merriman sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $272.97, for a total value of $272,970.00. Following the completion of the transaction, the director now directly owns 1,130,006 shares in the company, valued at approximately $308,457,737.82. This represents a 0.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,161 shares of company stock valued at $8,700,776 over the last quarter. 3.60% of the stock is currently owned by company insiders.

Institutional Trading of MongoDB

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP grew its holdings in shares of MongoDB by 2,580.0% in the second quarter. Quarry LP now owns 134 shares of the company’s stock valued at $33,000 after purchasing an additional 129 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of MongoDB in the 3rd quarter worth $36,000. GAMMA Investing LLC increased its holdings in shares of MongoDB by 178.8% in the 3rd quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock worth $39,000 after buying an additional 93 shares during the last quarter. Continuum Advisory LLC raised its position in shares of MongoDB by 621.1% during the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after buying an additional 118 shares in the last quarter. Finally, Asset Dedication LLC purchased a new position in MongoDB in the second quarter worth about $41,000. 89.29% of the stock is currently owned by institutional investors.

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.