MongoDB (NASDAQ:MDB) Trading 8.5% Higher – Still a Buy?

MongoDB, Inc. (NASDAQ:MDB) shot up 8.5% during mid-day trading on Tuesday . The company traded as high as $197.17 and last traded at $195.62. 4,017,293 shares traded hands during mid-day trading, an increase of 140% from the average session volume of 1,674,121 shares. The stock had previously closed at $180.32.

Analyst Ratings Changes

A number of research analysts recently issued reports on MDB shares. KeyCorp downgraded shares of MongoDB from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. The Goldman Sachs Group reduced their target price on shares of MongoDB from $390.00 to $335.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Guggenheim raised MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 price objective on the stock in a research report on Monday, January 6th. Tigress Financial increased their target price 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. Finally, Canaccord Genuity Group decreased their price objective on MongoDB from $385.00 to $320.00 and set a “buy” rating for the company in a report on Thursday, March 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat.com, MongoDB presently has an average rating of “Moderate Buy” and an average target price of $319.87.

MongoDB Price Performance

The company has a 50 day moving average of $257.94 and a two-hundred day moving average of $272.48. The company has a market capitalization of $13.78 billion, a PE ratio of -67.55 and a beta of 1.30.

MongoDB (NASDAQ:MDB) last released its earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The business had revenue of $548.40 million during the quarter, compared to analysts’ expectations of $519.65 million. During the same period in the prior year, the company earned $0.86 earnings per share. On average, equities analysts anticipate that MongoDB, Inc. will post -1.78 EPS for the current year.

Insider Activity

In other MongoDB news, insider Cedric Pech sold 287 shares of MongoDB stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total value of $67,183.83. Following the completion of the transaction, the insider now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dwight A. Merriman sold 885 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $292.05, for a total transaction of $258,464.25. Following the sale, the director now owns 83,845 shares in the company, valued at approximately $24,486,932.25. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,314 shares of company stock worth $12,981,833. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

Hedge funds have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC bought a new stake in MongoDB during the 3rd quarter worth approximately $861,000. Principal Financial Group Inc. boosted its holdings in MongoDB by 2.7% in the 3rd quarter. Principal Financial Group Inc. now owns 6,095 shares of the company’s stock worth $1,648,000 after buying an additional 160 shares during the period. Atria Investments Inc raised its holdings in MongoDB by 6.6% during the third quarter. Atria Investments Inc now owns 2,175 shares of the company’s stock valued at $588,000 after acquiring an additional 135 shares during the period. Covestor Ltd boosted its stake in shares of MongoDB by 32.0% in the third quarter. Covestor Ltd now owns 338 shares of the company’s stock worth $91,000 after acquiring an additional 82 shares during the period. Finally, Versor Investments LP purchased a new stake in shares of MongoDB during the third quarter worth about $404,000. 89.29% of the stock is currently 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.