MongoDB (NASDAQ:MDB) Upgraded at Daiwa America

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

A number of other research firms have also issued reports on MDB. Tigress Financial lifted their target price on MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Wedbush dropped their target price on shares of MongoDB from $360.00 to $300.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Wells Fargo & Company lowered shares of MongoDB from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $365.00 to $225.00 in a research note on Thursday, March 6th. Macquarie decreased their price target on shares of MongoDB from $300.00 to $215.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Finally, Scotiabank reiterated 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $312.84.

MongoDB Stock Up 2.0 %

Shares of NASDAQ MDB opened at $180.19 on Tuesday. The firm’s 50-day simple moving average is $240.77 and its 200 day simple moving average is $263.72. The stock has a market cap of $14.63 billion, a P/E ratio of -65.76 and a beta of 1.30. MongoDB has a fifty-two week low of $170.66 and a fifty-two week high of $387.19.

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

Insider Activity at MongoDB

In other MongoDB news, CEO Dev Ittycheria sold 8,335 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $254.86, for a total transaction of $2,124,258.10. Following the completion of the sale, the chief executive officer now directly owns 217,294 shares in the company, valued at $55,379,548.84. This 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 3,000 shares of MongoDB stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $266.00, for a total value of $798,000.00. Following the completion of the transaction, the director now owns 1,113,006 shares in the company, valued at $296,059,596. The trade was a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,857 shares of company stock valued at $9,613,306. Corporate insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

Several hedge funds and other institutional investors have recently modified their holdings of MDB. OneDigital Investment Advisors LLC boosted its holdings in MongoDB by 3.9% in the 4th quarter. OneDigital Investment Advisors LLC now owns 1,044 shares of the company’s stock valued at $243,000 after purchasing an additional 39 shares during the period. Hilltop National Bank lifted its stake in shares of 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 period. Avestar Capital LLC grew its position in MongoDB by 2.0% during the fourth quarter. Avestar Capital LLC now owns 2,165 shares of the company’s stock worth $504,000 after buying an additional 42 shares in the last quarter. Aigen Investment Management LP raised its holdings in MongoDB by 1.4% in the 4th quarter. Aigen Investment Management LP now owns 3,921 shares of the company’s stock valued at $913,000 after acquiring an additional 55 shares in the last quarter. Finally, Perigon Wealth Management LLC lifted its position in shares of MongoDB by 2.7% in the 4th quarter. Perigon Wealth Management LLC now owns 2,528 shares of the company’s stock worth $627,000 after acquiring an additional 66 shares during the period. 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.