MongoDB’s (MDB) “Buy” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reaffirmed their buy rating on shares of MongoDB (NASDAQ:MDB) in a research report report published on Tuesday,Benzinga reports. Rosenblatt Securities currently has a $350.00 target price on the stock.

MDB has been the subject of a number of other reports. Royal Bank of Canada increased their price target on shares of MongoDB from $350.00 to $400.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. China Renaissance initiated coverage on MongoDB in a research report on Tuesday, January 21st. They set a “buy” rating and a $351.00 price target on the stock. Barclays dropped their price objective on shares of MongoDB from $400.00 to $330.00 and set an “overweight” rating for the company in a research report on Friday, January 10th. Truist Financial reiterated a “buy” rating and issued a $400.00 price objective (up from $320.00) on shares of MongoDB in a research report on Tuesday, December 10th. Finally, Loop Capital cut their target price on MongoDB from $400.00 to $350.00 and set a “buy” rating on the stock in a research note on Monday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $322.61.

MongoDB Stock Performance

Shares of MDB stock opened at $192.98 on Tuesday. The business’s fifty day moving average is $262.69 and its 200-day moving average is $274.71. MongoDB has a 1 year low of $192.79 and a 1 year high of $413.87. The stock has a market cap of $14.37 billion, a PE ratio of -70.43 and a beta of 1.30.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.45). MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business had revenue of $548.40 million for the quarter, compared to analyst estimates of $519.65 million. During the same period in the previous year, the firm posted $0.86 earnings per share. Equities research analysts predict that MongoDB will post -1.78 earnings per share for the current year.

Insider Buying and Selling at MongoDB

In other MongoDB news, CAO Thomas Bull sold 1,000 shares of the company’s 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 sale, the chief accounting officer now directly owns 15,068 shares of the company’s stock, valued at approximately $5,363,002.56. This represents a 6.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael Lawrence Gordon sold 5,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 80,307 shares in the company, valued at approximately $21,510,229.95. This represents a 5.86 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,314 shares of company stock valued at $13,337,753. 3.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Strategic Investment Solutions Inc. IL acquired a new position in shares of MongoDB in the 4th quarter worth approximately $29,000. Hilltop National Bank grew its position in MongoDB by 47.2% in the 4th quarter. Hilltop National Bank now owns 131 shares of the company’s stock valued at $30,000 after acquiring an additional 42 shares in the last quarter. NCP Inc. purchased a new stake in MongoDB during the fourth quarter worth about $35,000. Brooklyn Investment Group acquired a new stake in shares of MongoDB during the third quarter worth about $36,000. Finally, Continuum Advisory LLC boosted its stake in shares of MongoDB by 621.1% in the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after purchasing an additional 118 shares during the period. Institutional investors and hedge funds 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.