MongoDB (NASDAQ:MDB) Coverage Initiated at China Renaissance

Equities research analysts at China Renaissance started coverage on shares of MongoDB (NASDAQ:MDB) in a research report issued to clients and investors on Tuesday, Marketbeat reports. The firm set a “buy” rating and a $351.00 price target on the stock. China Renaissance’s price target indicates a potential upside of 34.64% from the company’s current price.

Several other equities research analysts have also weighed in on MDB. Monness Crespi & Hardt lowered MongoDB from a “neutral” rating to a “sell” rating and set a $220.00 target price on the stock. in a research report on Monday, December 16th. Tigress Financial lifted their price objective on shares of MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Morgan Stanley boosted their target price on shares of MongoDB from $340.00 to $350.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Rosenblatt Securities assumed coverage on shares of MongoDB in a research note on Tuesday, December 17th. They issued a “buy” rating and a $350.00 price target on the stock. Finally, Truist Financial reiterated 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. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $361.00.

MongoDB Stock Up 1.1 %

Shares of NASDAQ:MDB opened at $260.70 on Tuesday. The company has a market cap of $19.41 billion, a PE ratio of -95.15 and a beta of 1.25. MongoDB has a fifty-two week low of $212.74 and a fifty-two week high of $509.62. The firm has a 50-day simple moving average of $276.80 and a 200 day simple moving average of $269.05.

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

Insider Activity

In other MongoDB news, Director Dwight A. Merriman sold 3,000 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $269.57, for a total transaction of $808,710.00. Following the sale, the director now directly owns 1,127,006 shares of the company’s stock, valued at $303,807,007.42. The trade was a 0.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Thomas Bull sold 1,000 shares of MongoDB stock in a transaction on Monday, December 9th. The shares were sold at an average price of $355.92, for a total value of $355,920.00. Following the transaction, the chief accounting officer now owns 15,068 shares in the company, valued at $5,363,002.56. This represents a 6.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,156 shares of company stock valued at $8,955,473 over the last three months. Insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

Hedge funds and other institutional investors have recently modified their holdings of the company. Jennison Associates LLC lifted its stake in MongoDB by 23.6% in the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock valued at $838,632,000 after acquiring an additional 592,038 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of MongoDB by 11,057.0% during the 4th 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 in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of MongoDB in the 2nd quarter valued at $52,131,000. Avala Global LP bought a new stake in MongoDB in the third quarter worth $47,960,000. Finally, Eagle Asset Management Inc. acquired a new position in MongoDB during the third quarter worth $44,380,000. 89.29% of the stock is currently 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.