MongoDB (NASDAQ:MDB) Raised to Strong-Buy at Daiwa America

MongoDB (NASDAQ:MDB) was upgraded by equities research analysts at Daiwa America to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

Other equities research analysts have also issued research reports about the company. Oppenheimer reduced their price target on MongoDB from $400.00 to $330.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. The Goldman Sachs Group lowered 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. Cantor Fitzgerald assumed coverage on MongoDB in a report on Wednesday, March 5th. They set an “overweight” rating and a $344.00 price target for the company. Royal Bank of Canada cut their target price on MongoDB from $400.00 to $320.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Finally, Scotiabank restated a “sector perform” rating and set a $240.00 price objective (down previously from $275.00) on shares of MongoDB in a research report on Wednesday, March 5th. Seven investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $312.84.

MongoDB Stock Up 2.0 %

NASDAQ:MDB opened at $180.19 on Tuesday. MongoDB has a 52 week low of $170.66 and a 52 week high of $387.19. The stock’s fifty day moving average is $240.77 and its two-hundred day moving average is $263.72. The stock has a market capitalization of $14.63 billion, a price-to-earnings ratio of -65.76 and a beta of 1.30.

MongoDB (NASDAQ:MDB) last posted its earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.45). The firm had revenue of $548.40 million for the quarter, compared to analyst estimates of $519.65 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. During the same period in the previous year, the company posted $0.86 EPS. On average, sell-side analysts expect that MongoDB will post -1.78 EPS for the current fiscal year.

Insider Buying and Selling at MongoDB

In related news, CEO Dev Ittycheria sold 8,335 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $254.86, for a total transaction of $2,124,258.10. Following the sale, the chief executive officer now owns 217,294 shares of the company’s stock, valued at $55,379,548.84. This trade represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dwight A. Merriman sold 1,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $265.00, for a total transaction of $265,000.00. Following the completion of the transaction, the director now directly owns 1,116,006 shares of the company’s stock, valued at $295,741,590. The trade was a 0.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,857 shares of company stock valued at $9,613,306 over the last quarter. Corporate insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

Several hedge funds and other institutional investors have recently bought and sold shares of MDB. B.O.S.S. Retirement Advisors LLC acquired a new stake in shares of MongoDB during the fourth quarter worth $606,000. Geode Capital Management LLC boosted its stake in MongoDB by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock worth $331,776,000 after buying an additional 34,814 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in shares of MongoDB during the 4th quarter valued at about $3,515,000. Nisa Investment Advisors LLC lifted its holdings in shares of MongoDB by 428.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,755 shares of the company’s stock worth $1,340,000 after acquiring an additional 4,665 shares during the period. Finally, HighTower Advisors LLC boosted its position in shares of MongoDB by 2.0% in the fourth quarter. HighTower Advisors LLC now owns 18,773 shares of the company’s stock worth $4,371,000 after acquiring an additional 372 shares during the last quarter. 89.29% of the stock is 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.