MongoDB (NASDAQ:MDB) Coverage Initiated by Analysts at Rosenblatt Securities

Rosenblatt Securities began coverage on shares of MongoDB (NASDAQ:MDB) in a research report sent to investors on Tuesday, MarketBeat.com reports. The brokerage issued a buy rating and a $350.00 price objective on the stock.

Several other equities research analysts have also recently commented on MDB. Truist Financial restated a “buy” rating and issued a $400.00 target price (up previously from $320.00) on shares of MongoDB in a research note on Tuesday, December 10th. Barclays boosted their price objective on shares of MongoDB from $375.00 to $400.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Mizuho raised their target price on shares of MongoDB from $275.00 to $320.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Bank of America boosted their price target on shares of MongoDB from $300.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, Morgan Stanley raised their price objective on MongoDB from $340.00 to $350.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, MongoDB presently has an average rating of “Moderate Buy” and a consensus price target of $365.07.

MongoDB Stock Down 0.2 %

MongoDB stock opened at $265.10 on Tuesday. The company has a 50 day moving average of $293.29 and a 200-day moving average of $267.30. MongoDB has a twelve month low of $212.74 and a twelve month high of $509.62. The stock has a market capitalization of $19.58 billion, a PE ratio of -96.75 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, topping analysts’ consensus estimates of $0.68 by $0.48. The firm 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%. The company’s revenue was up 22.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.96 EPS. Equities analysts anticipate that MongoDB will post -2.29 EPS for the current fiscal year.

Insider Buying and Selling

In other MongoDB news, CAO Thomas Bull sold 154 shares of MongoDB stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total value of $39,462.50. Following the completion of the sale, the chief accounting officer now owns 16,068 shares in the company, valued at $4,117,425. The trade was a 0.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dev Ittycheria sold 3,556 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total transaction of $911,225.00. Following the transaction, the chief executive officer now owns 219,875 shares in the company, valued at approximately $56,342,968.75. The trade was a 1.59 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,600 shares of company stock valued at $7,611,849. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MDB. Jennison Associates LLC increased its position in shares of MongoDB by 23.6% in the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock worth $838,632,000 after purchasing an additional 592,038 shares during the period. Thrivent Financial for Lutherans grew its stake in MongoDB by 1,098.1% during the second quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock worth $106,084,000 after buying an additional 388,979 shares in the last quarter. Point72 Asset Management L.P. bought a new position in MongoDB in the 2nd quarter valued at about $52,131,000. Avala Global LP acquired a new position in shares of MongoDB in the 3rd quarter valued at approximately $47,960,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of MongoDB by 828.9% during the 2nd quarter. Renaissance Technologies LLC now owns 183,000 shares of the company’s stock worth $45,743,000 after acquiring an additional 163,300 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

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.