MongoDB (NASDAQ:MDB) Research Coverage Started at Cantor Fitzgerald

Cantor Fitzgerald began coverage on shares of MongoDB (NASDAQ:MDB) in a research report sent to investors on Friday, Marketbeat Ratings reports. The firm issued an overweight rating and a $344.00 price target on the stock.

A number of other equities research analysts have also recently weighed in on MDB. DA Davidson upped their price target on MongoDB from $340.00 to $405.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Wells Fargo & Company upped their price target on MongoDB from $350.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Rosenblatt Securities started coverage on MongoDB in a report on Tuesday, December 17th. They issued a “buy” rating and a $350.00 price target on the stock. Mizuho upped their price target on MongoDB from $275.00 to $320.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Finally, Needham & Company LLC upped their price target on MongoDB from $335.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-two have given a buy rating and two have given 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 $363.93.

MongoDB Trading Up 2.1 %

NASDAQ MDB opened at $253.11 on Friday. The business’s 50 day moving average is $278.24 and its two-hundred day moving average is $269.19. MongoDB has a 12-month low of $212.74 and a 12-month high of $509.62. The stock has a market capitalization of $18.85 billion, a price-to-earnings ratio of -92.38 and a beta of 1.25.

MongoDB (NASDAQ:MDB) last released its 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 return on equity of 12.22% and a negative net margin of 10.46%. The company had revenue of $529.40 million for the quarter, compared to analysts’ expectations of $497.39 million. During the same quarter in the previous year, the firm posted $0.96 EPS. The firm’s quarterly revenue was up 22.3% on a year-over-year basis. Equities analysts forecast that MongoDB will post -1.79 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $269.57, for a total value of $808,710.00. Following the transaction, the director now directly owns 1,127,006 shares of the company’s stock, valued at approximately $303,807,007.42. This trade represents a 0.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael Lawrence Gordon sold 5,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $267.85, for a total value of $1,339,250.00. Following the completion of the transaction, the chief financial officer now directly owns 80,307 shares in the company, valued at $21,510,229.95. This trade represents a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,821 shares of company stock valued at $6,831,215 in the last quarter. 3.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC raised its position in MongoDB by 428.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,755 shares of the company’s stock valued at $1,340,000 after purchasing an additional 4,665 shares during the period. Sanders Morris Harris LLC purchased a new position in MongoDB in the fourth quarter valued at about $2,794,000. Covea Finance purchased a new position in MongoDB in the fourth quarter valued at about $3,841,000. Park Avenue Securities LLC raised its position in MongoDB by 24.3% in the fourth quarter. Park Avenue Securities LLC now owns 1,723 shares of the company’s stock valued at $401,000 after purchasing an additional 337 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in MongoDB by 11,057.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 296,889 shares of the company’s stock valued at $69,119,000 after purchasing an additional 294,228 shares during the period. 89.29% of the stock is owned by hedge funds and other institutional investors.

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.