MongoDB (NASDAQ:MDB) Upgraded at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of MongoDB (NASDAQ:MDB) to a strong-buy rating in a research report report published on Thursday, MarketBeat Ratings reports. They currently have $344.00 target price on the stock.

Other equities research analysts also recently issued research reports about the stock. Stifel Nicolaus lifted their price target on shares of MongoDB from $325.00 to $360.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Truist Financial reaffirmed a “buy” rating and set a $400.00 price target (up previously from $320.00) on shares of MongoDB in a research note on Tuesday, December 10th. DA Davidson lifted their price target on shares of MongoDB from $340.00 to $405.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Needham & Company LLC lifted their price target on shares of MongoDB from $335.00 to $415.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $425.00 price target on shares of MongoDB in a research note on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $363.93.

MongoDB Stock Up 2.1 %

Shares of MDB opened at $253.11 on Thursday. The firm has a market cap of $18.85 billion, a PE ratio of -92.38 and a beta of 1.25. The company’s fifty day moving average is $278.24 and its two-hundred day moving average is $269.17. MongoDB has a fifty-two week low of $212.74 and a fifty-two week high of $509.62.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.48. The company had revenue of $529.40 million for the quarter, compared to analyst estimates of $497.39 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. MongoDB’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same quarter last year, the business earned $0.96 EPS. As a group, equities research analysts anticipate that MongoDB will post -1.79 earnings per share for the current year.

Insider Transactions at MongoDB

In related news, insider Cedric Pech sold 287 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total transaction of $67,183.83. Following the completion of the sale, the insider now directly owns 24,390 shares of the company’s stock, valued at $5,709,455.10. This represents a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael Lawrence Gordon sold 5,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $267.85, for a total transaction of $1,339,250.00. Following the sale, the chief financial officer now directly owns 80,307 shares of the company’s stock, valued at approximately $21,510,229.95. This represents a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 24,821 shares of company stock valued at $6,831,215. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

A number of large investors have recently made changes to their positions in the company. Jennison Associates LLC increased its stake in MongoDB by 23.6% in the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock valued at $838,632,000 after buying an additional 592,038 shares during the period. Geode Capital Management LLC increased its stake in MongoDB by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock valued at $331,776,000 after buying an additional 34,814 shares during the period. Westfield Capital Management Co. LP increased its stake in MongoDB by 1.5% in the 3rd quarter. Westfield Capital Management Co. LP now owns 496,248 shares of the company’s stock valued at $134,161,000 after buying an additional 7,526 shares during the period. Thrivent Financial for Lutherans increased its stake in MongoDB by 1,098.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock valued at $106,084,000 after buying an additional 388,979 shares during the period. Finally, Holocene Advisors LP increased its stake in MongoDB by 22.6% in the 3rd quarter. Holocene Advisors LP now owns 362,603 shares of the company’s stock valued at $98,030,000 after buying an additional 66,730 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

About MongoDB

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.