MongoDB, Inc. (NASDAQ:MDB) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of MongoDB, Inc. (NASDAQ:MDB) have been assigned an average recommendation of “Moderate Buy” from the thirty-one ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $319.87.

Several equities analysts have issued reports on the company. Rosenblatt Securities reiterated a “buy” rating and issued a $350.00 price objective on shares of MongoDB in a research report on Tuesday, March 4th. DA Davidson lifted their price target on MongoDB from $340.00 to $405.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. JMP Securities reissued a “market outperform” rating and set a $380.00 price objective on shares of MongoDB in a report on Wednesday, December 11th. Tigress Financial boosted their target price on shares of MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, Morgan Stanley reduced their target price on shares of MongoDB from $350.00 to $315.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th.

Insiders Place Their Bets

In related news, CEO Dev Ittycheria sold 2,581 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total value of $604,186.29. Following the sale, the chief executive officer now directly owns 217,294 shares of the company’s stock, valued at approximately $50,866,352.46. The trade was a 1.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Cedric Pech sold 287 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $67,183.83. Following the completion of the transaction, the insider now directly owns 24,390 shares of the company’s stock, valued at approximately $5,709,455.10. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,314 shares of company stock worth $12,981,833 over the last ninety days. 3.60% of the stock is currently owned by corporate insiders.

Institutional Trading of MongoDB

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank bought a new position in MongoDB in the fourth quarter valued at $189,584,000. Jennison Associates LLC boosted its stake in shares of MongoDB by 23.6% during the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock worth $838,632,000 after buying an additional 592,038 shares during the last quarter. Marshall Wace LLP bought a new position in shares of MongoDB in the 4th quarter valued at about $110,356,000. Raymond James Financial Inc. acquired a new stake in shares of MongoDB in the fourth quarter valued at about $90,478,000. Finally, D1 Capital Partners L.P. bought a new stake in MongoDB during the fourth quarter worth about $76,129,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

MongoDB Stock Performance

MDB opened at $180.32 on Tuesday. The firm has a market cap of $13.43 billion, a price-to-earnings ratio of -65.81 and a beta of 1.30. The firm’s 50-day simple moving average is $260.61 and its 200-day simple moving average is $274.00. MongoDB has a twelve month low of $173.13 and a twelve month high of $387.19.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data 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 return on equity of 12.22% and a negative net margin of 10.46%. The firm had revenue of $548.40 million for the quarter, compared to the consensus estimate of $519.65 million. During the same period in the prior year, the company posted $0.86 earnings per share. As a group, sell-side analysts anticipate that MongoDB will post -1.78 EPS for the current fiscal year.

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.