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

MongoDB (NASDAQ:MDB)‘s stock had its “buy” rating reiterated by analysts at Rosenblatt Securities in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $350.00 price target on the stock. Rosenblatt Securities’ price objective would suggest a potential upside of 35.12% from the stock’s current price.

Several other equities analysts have also commented on the company. The Goldman Sachs Group increased their price objective on MongoDB from $340.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Tigress Financial increased their price target 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. KeyCorp boosted their price objective on shares of MongoDB from $330.00 to $375.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Mizuho upped their price objective on shares of MongoDB from $275.00 to $320.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Finally, DA Davidson lifted their target price on shares of MongoDB from $340.00 to $405.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, MongoDB currently has a consensus rating of “Moderate Buy” and an average price target of $359.33.

MongoDB Trading Down 3.1 %

MDB stock opened at $259.02 on Tuesday. MongoDB has a 1-year low of $212.74 and a 1-year high of $443.09. The stock has a market cap of $19.29 billion, a price-to-earnings ratio of -94.53 and a beta of 1.28. The company’s 50 day moving average is $263.05 and its 200 day moving average is $275.34.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.48. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The firm had revenue of $529.40 million for the quarter, compared to analysts’ expectations of $497.39 million. During the same quarter last year, the company posted $0.96 EPS. The business’s quarterly revenue was up 22.3% on a year-over-year basis. As a group, sell-side analysts forecast that MongoDB will post -1.78 EPS for the current fiscal year.

Insider Activity

In other MongoDB news, CEO Dev Ittycheria sold 8,335 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $254.86, for a total transaction of $2,124,258.10. Following the completion of the transaction, the chief executive officer now owns 217,294 shares of the company’s stock, valued at approximately $55,379,548.84. This trade represents a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Thomas Bull sold 1,000 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $355.92, for a total transaction of $355,920.00. Following the completion of the sale, the chief accounting officer now directly owns 15,068 shares in the company, valued at $5,363,002.56. This represents a 6.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,314 shares of company stock valued at $12,525,863. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. OneDigital Investment Advisors LLC lifted its holdings in shares of MongoDB by 3.9% during the fourth quarter. OneDigital Investment Advisors LLC now owns 1,044 shares of the company’s stock valued at $243,000 after purchasing an additional 39 shares during the last quarter. Nisa Investment Advisors LLC increased its position in MongoDB by 3.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the company’s stock valued at $295,000 after buying an additional 40 shares in the last quarter. Hilltop National Bank raised its stake in MongoDB by 47.2% during the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock valued at $30,000 after buying an additional 42 shares during the last quarter. Avestar Capital LLC boosted its holdings in MongoDB by 2.0% in the fourth quarter. Avestar Capital LLC now owns 2,165 shares of the company’s stock worth $504,000 after acquiring an additional 42 shares in the last quarter. Finally, Rakuten Securities Inc. boosted its holdings in MongoDB by 16.5% in the third quarter. Rakuten Securities Inc. now owns 332 shares of the company’s stock worth $90,000 after acquiring an additional 47 shares in the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

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.