MongoDB (NASDAQ:MDB) Now Covered by Analysts at Rosenblatt Securities

Investment analysts at Rosenblatt Securities assumed coverage on shares of MongoDB (NASDAQ:MDB) in a research report issued on Tuesday. The brokerage set a “buy” rating and a $350.00 price target on the stock. Rosenblatt Securities’ price objective would indicate a potential upside of 31.76% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Monness Crespi & Hardt cut shares of MongoDB from a “neutral” rating to a “sell” rating and set a $220.00 price target on the stock. in a report on Monday. Wedbush upgraded MongoDB to a “strong-buy” rating in a research note on Thursday, October 17th. Bank of America increased their price objective on MongoDB from $300.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Sanford C. Bernstein upped their price target on shares of MongoDB from $358.00 to $360.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Finally, KeyCorp increased their target price on shares of MongoDB from $330.00 to $375.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, MongoDB currently has a consensus rating of “Moderate Buy” and an average target price of $365.07.

MongoDB Trading Down 0.6 %

MongoDB stock opened at $265.63 on Tuesday. The company’s 50-day moving average is $293.17 and its two-hundred day moving average is $267.61. The company has a market cap of $19.62 billion, a PE ratio of -96.95 and a beta of 1.17. MongoDB has a 1 year low of $212.74 and a 1 year high of $509.62.

MongoDB (NASDAQ:MDB) last posted its earnings results on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.48. The business had revenue of $529.40 million during the quarter, compared to analysts’ expectations of $497.39 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. MongoDB’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.96 EPS. Research analysts forecast that MongoDB will post -2.29 EPS for the current year.

Insider Activity at MongoDB

In related news, CFO Michael Lawrence Gordon sold 5,000 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $290.31, for a total transaction of $1,451,550.00. Following the transaction, the chief financial officer now owns 80,307 shares in the company, valued at $23,313,925.17. The trade was a 5.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total transaction of $768,750.00. Following the transaction, the director now directly owns 1,131,006 shares in the company, valued at $289,820,287.50. This trade represents a 0.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,600 shares of company stock worth $7,611,849 over the last three months. Company insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

Several hedge funds have recently modified their holdings of MDB. Nisa Investment Advisors LLC lifted its position in shares of MongoDB by 3.8% during the third quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the company’s stock worth $295,000 after acquiring an additional 40 shares in the last quarter. Taylor Frigon Capital Management LLC grew its holdings in MongoDB by 0.4% during the 2nd quarter. Taylor Frigon Capital Management LLC now owns 9,903 shares of the company’s stock valued at $2,475,000 after buying an additional 42 shares in the last quarter. Tanager Wealth Management LLP increased its position in shares of MongoDB by 4.7% during the third quarter. Tanager Wealth Management LLP now owns 957 shares of the company’s stock valued at $259,000 after buying an additional 43 shares during the period. Fifth Third Bancorp lifted its holdings in shares of MongoDB by 7.6% in the second quarter. Fifth Third Bancorp now owns 620 shares of the company’s stock worth $155,000 after buying an additional 44 shares in the last quarter. Finally, Rakuten Securities Inc. boosted its position in shares of MongoDB by 16.5% in the third quarter. Rakuten Securities Inc. now owns 332 shares of the company’s stock valued at $90,000 after acquiring an additional 47 shares during the period. Institutional investors 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.