MongoDB (NASDAQ:MDB) Upgraded by Cantor Fitzgerald to “Strong-Buy” Rating

Cantor Fitzgerald upgraded shares of MongoDB (NASDAQ:MDB) to a strong-buy rating in a report released on Thursday, MarketBeat reports. The brokerage currently has $344.00 price target on the stock.

Several other brokerages have also recently commented on MDB. Tigress Financial upped their target price on MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Macquarie began coverage on shares of MongoDB in a research report on Thursday, December 12th. They set a “neutral” rating and a $300.00 price objective for the company. Canaccord Genuity Group boosted their target price on shares of MongoDB from $325.00 to $385.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Robert W. Baird increased their price target on MongoDB from $380.00 to $390.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Finally, Stifel Nicolaus upped their target price on MongoDB from $325.00 to $360.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $363.93.

MongoDB Price Performance

MDB opened at $253.11 on Thursday. MongoDB has a fifty-two week low of $212.74 and a fifty-two week high of $509.62. The company’s 50 day moving average price is $278.24 and its two-hundred day moving average price is $269.10.

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 analysts’ consensus estimates of $0.68 by $0.48. The business had revenue of $529.40 million during the quarter, compared to the consensus estimate of $497.39 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. MongoDB’s quarterly revenue was up 22.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.96 earnings per share. Equities research analysts predict that MongoDB will post -1.79 EPS for the current year.

Insider Transactions at MongoDB

In other news, insider Cedric Pech sold 287 shares of MongoDB 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 sale, the insider now directly owns 24,390 shares in the company, valued at $5,709,455.10. The trade was a 1.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Michael Lawrence Gordon sold 5,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $267.85, for a total transaction of $1,339,250.00. Following the transaction, the chief financial officer now owns 80,307 shares of the company’s stock, valued at approximately $21,510,229.95. The trade was a 5.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,821 shares of company stock worth $6,831,215 in the last 90 days. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

Several institutional investors and hedge funds have recently bought and sold shares of the company. Hilltop National Bank boosted its holdings in MongoDB by 47.2% in the 4th quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after buying an additional 42 shares during the period. Quarry LP lifted its position in shares of MongoDB by 2,580.0% during the second quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after acquiring an additional 129 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of MongoDB in the third quarter worth $36,000. GAMMA Investing LLC grew its position in shares of MongoDB by 178.8% in the third quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock valued at $39,000 after purchasing an additional 93 shares in the last quarter. Finally, Continuum Advisory LLC raised its stake in shares of MongoDB by 621.1% during the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after purchasing an additional 118 shares during the period. 89.29% of the stock is 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.