MongoDB’s (MDB) “Market Outperform” Rating Reaffirmed at JMP Securities

MongoDB (NASDAQ:MDB)‘s stock had its “market outperform” rating restated by analysts at JMP Securities in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $380.00 target price on the stock. JMP Securities’ target price suggests a potential upside of 26.07% from the company’s previous close.

Several other analysts have also recently issued reports on MDB. Sanford C. Bernstein increased their target price on shares of MongoDB from $358.00 to $360.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Truist Financial restated a “buy” rating and issued a $400.00 target price (up from $320.00) on shares of MongoDB in a research note on Tuesday. KeyCorp raised their target price on shares of MongoDB from $330.00 to $375.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Bank of America increased their price target on shares of MongoDB from $300.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Finally, Wells Fargo & Company upped their target price on shares of MongoDB from $350.00 to $425.00 and gave the stock an “overweight” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, MongoDB presently has a consensus rating of “Moderate Buy” and a consensus price target of $372.88.

MongoDB Stock Performance

NASDAQ MDB traded up $10.52 on Wednesday, reaching $301.42. The stock had a trading volume of 2,194,173 shares, compared to its average volume of 1,507,730. The company has a debt-to-equity ratio of 0.84, a current ratio of 5.03 and a quick ratio of 5.03. MongoDB has a 1-year low of $212.74 and a 1-year high of $509.62. The firm has a fifty day moving average of $291.56 and a two-hundred day moving average of $268.79. The company has a market cap of $22.27 billion, a P/E ratio of -100.38 and a beta of 1.17.

MongoDB (NASDAQ:MDB) last released its earnings results on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.48. The firm had revenue of $529.40 million for the quarter, compared to analysts’ expectations of $497.39 million. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. The business’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.96 earnings per share. On average, equities research analysts anticipate that MongoDB will post -2.37 EPS for the current year.

Insider Transactions at MongoDB

In other MongoDB news, CRO Cedric Pech sold 302 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total transaction of $77,387.50. Following the sale, the executive now directly owns 33,440 shares in the company, valued at approximately $8,569,000. This trade represents a 0.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Thomas Bull sold 154 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total transaction of $39,462.50. Following the completion of the transaction, the chief accounting officer now directly owns 16,068 shares of the company’s stock, valued at approximately $4,117,425. The trade was a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,600 shares of company stock worth $7,255,929. 3.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MDB. J.Safra Asset Management Corp raised its position in shares of MongoDB by 682.4% in the second quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock valued at $33,000 after buying an additional 116 shares in the last quarter. Swedbank AB boosted its stake in shares of MongoDB by 156.3% in the 2nd quarter. Swedbank AB now owns 656,993 shares of the company’s stock valued at $164,222,000 after purchasing an additional 400,705 shares during the last quarter. LA Financiere DE L Echiquier acquired a new stake in MongoDB during the second quarter worth approximately $19,497,000. Blue Trust Inc. increased its stake in MongoDB by 26.6% in the second quarter. Blue Trust Inc. now owns 538 shares of the company’s stock valued at $134,000 after purchasing an additional 113 shares in the last quarter. Finally, OFI Invest Asset Management grew its stake in MongoDB by 420.4% in the second quarter. OFI Invest Asset Management now owns 510 shares of the company’s stock valued at $119,000 after acquiring an additional 412 shares during the period. 89.29% of the stock is currently owned by 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.