Rosenblatt Securities Reaffirms Buy Rating for MongoDB (NASDAQ:MDB)

MongoDB (NASDAQ:MDB)‘s stock had its “buy” rating reiterated by research analysts at Rosenblatt Securities in a research note issued on Tuesday,Benzinga reports. They currently have a $350.00 target price on the stock. Rosenblatt Securities’ price target would indicate a potential upside of 32.51% from the stock’s current price.

Several other analysts have also weighed in on MDB. Robert W. Baird boosted their target price on shares of MongoDB from $380.00 to $390.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Oppenheimer boosted their price objective on shares of MongoDB from $350.00 to $400.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Monness Crespi & Hardt raised MongoDB from a “sell” rating to a “neutral” rating in a report on Monday. Piper Sandler reissued an “overweight” rating and issued a $425.00 price target on shares of MongoDB in a report on Tuesday, December 10th. Finally, The Goldman Sachs Group boosted 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. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $361.83.

MongoDB Stock Performance

Shares of MongoDB stock opened at $264.13 on Tuesday. MongoDB has a 1 year low of $212.74 and a 1 year high of $424.00. The firm’s 50-day simple moving average is $263.70 and its 200-day simple moving average is $275.28. The firm has a market cap of $19.67 billion, a PE ratio of -96.40 and a beta of 1.30.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate 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 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 quarter in the prior year, the firm posted $0.96 earnings per share. On average, equities analysts predict that MongoDB will post -1.78 earnings per share for the current year.

Insider Buying and Selling

In other MongoDB news, CAO Thomas Bull sold 1,000 shares of the business’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 sale, the chief accounting officer now owns 15,068 shares in the company, valued at approximately $5,363,002.56. The trade was a 6.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Cedric Pech sold 287 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $67,183.83. Following the completion of the transaction, the insider now owns 24,390 shares of the company’s stock, valued at approximately $5,709,455.10. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,314 shares of company stock worth $13,337,753. Corporate insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

Several hedge funds and other institutional investors have recently modified their holdings of the business. Strategic Investment Solutions Inc. IL purchased a new stake in MongoDB in the 4th quarter worth approximately $29,000. Hilltop National Bank raised its holdings in shares of MongoDB by 47.2% during the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after acquiring an additional 42 shares in the last quarter. NCP Inc. acquired a new stake in MongoDB during the fourth quarter valued at $35,000. Brooklyn Investment Group purchased a new position in MongoDB in the third quarter valued at about $36,000. Finally, Continuum Advisory LLC increased its position in MongoDB by 621.1% in the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock worth $40,000 after purchasing an additional 118 shares during the last quarter. Institutional investors and hedge funds 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.