MongoDB (NASDAQ:MDB) Coverage Initiated at Cantor Fitzgerald

Cantor Fitzgerald started coverage on shares of MongoDB (NASDAQ:MDB) in a research report sent to investors on Friday morning, MarketBeat.com reports. The brokerage issued an overweight rating and a $344.00 target price on the stock.

A number of other research analysts also recently commented on the stock. Wells Fargo & Company increased their price target on shares of MongoDB from $350.00 to $425.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Guggenheim raised MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 price objective for the company in a research note on Monday, January 6th. Oppenheimer lifted their target price on MongoDB from $350.00 to $400.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Citigroup increased their price target on MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a report on Monday, December 16th. Finally, Royal Bank of Canada lifted their price objective on shares of MongoDB from $350.00 to $400.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $363.93.

MongoDB Stock Performance

MDB opened at $253.11 on Friday. The stock has a market capitalization of $18.85 billion, a price-to-earnings ratio of -92.38 and a beta of 1.25. The company has a fifty day moving average of $278.24 and a 200 day moving average of $269.10. MongoDB has a fifty-two week low of $212.74 and a fifty-two week high of $509.62.

MongoDB (NASDAQ:MDB) last posted its earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.48. The firm 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%. The company’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.96 EPS. On average, equities research analysts forecast that MongoDB will post -1.79 earnings per share for the current year.

Insider Buying and Selling at MongoDB

In other news, CAO Thomas Bull sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $355.92, for a total value of $355,920.00. Following the sale, the chief accounting officer now directly owns 15,068 shares in the company, valued at approximately $5,363,002.56. This trade represents 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, Director Dwight A. Merriman sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $349.17, for a total transaction of $698,340.00. Following the transaction, the director now owns 1,124,006 shares of the company’s stock, valued at approximately $392,469,175.02. This trade represents a 0.18 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,821 shares of company stock valued at $6,831,215. Company insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

Institutional investors have recently made changes to their positions in the business. Hilltop National Bank raised its stake in MongoDB by 47.2% in 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. Quarry LP grew its stake 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 during the last quarter. Brooklyn Investment Group acquired a new position in shares of MongoDB during the third quarter valued at about $36,000. GAMMA Investing LLC raised its position in shares of MongoDB by 178.8% in the 3rd quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock valued at $39,000 after purchasing an additional 93 shares during the last quarter. Finally, Continuum Advisory LLC boosted its stake 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 in 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.