MongoDB (NASDAQ:MDB) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of MongoDB (NASDAQ:MDB) from a hold rating to a buy rating in a research note released on Sunday morning.

Several other research analysts have also commented on the stock. Piper Sandler dropped their price target on shares of MongoDB from $490.00 to $330.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 3rd. Sanford C. Bernstein cut shares of MongoDB from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 3rd. Scotiabank raised shares of MongoDB from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $275.00 to $310.00 in a research report on Thursday, March 5th. BMO Capital Markets restated an “outperform” rating and set a $340.00 target price (down from $400.00) on shares of MongoDB in a report on Tuesday, March 3rd. Finally, UBS Group reduced their price target on MongoDB from $440.00 to $275.00 and set a “neutral” rating for the company in a research report on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, MongoDB presently has a consensus rating of “Moderate Buy” and an average target price of $354.18.

MongoDB Stock Performance

Shares of NASDAQ MDB opened at $272.27 on Friday. The business has a 50 day simple moving average of $347.73 and a 200 day simple moving average of $353.45. MongoDB has a 52 week low of $140.78 and a 52 week high of $444.72. The stock has a market cap of $22.16 billion, a price-to-earnings ratio of -309.40 and a beta of 1.40.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Monday, March 2nd. The company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.18. The firm had revenue of $695.07 million for the quarter, compared to analyst estimates of $669.40 million. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. The company’s revenue for the quarter was up 26.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.28 earnings per share. On average, analysts predict that MongoDB will post -1.78 EPS for the current year.

Insider Activity at MongoDB

In related news, Director Dwight A. Merriman sold 1,190 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $369.75, for a total value of $440,002.50. Following the completion of the transaction, the director owned 80,462 shares of the company’s stock, valued at approximately $29,750,824.50. This trade represents a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 19,383 shares of company stock valued at $7,910,983 over the last 90 days. Insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On MongoDB

A number of large investors have recently modified their holdings of MDB. Cornerstone Planning Group LLC increased its position in shares of MongoDB by 1,220.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 66 shares of the company’s stock valued at $27,000 after acquiring an additional 61 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in MongoDB in the fourth quarter valued at approximately $28,000. Huntington National Bank increased its position in shares of MongoDB by 110.9% during the 3rd quarter. Huntington National Bank now owns 97 shares of the company’s stock worth $30,000 after purchasing an additional 51 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of MongoDB during the 4th quarter worth approximately $33,000. Finally, Promus Capital LLC bought a new stake in shares of MongoDB during the 2nd quarter worth approximately $36,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

MongoDB Company Profile

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.