MongoDB’s (MDB) Buy Rating Reiterated at Rosenblatt Securities

MongoDB (NASDAQ:MDB)‘s stock had its “buy” rating reissued by Rosenblatt Securities in a research note issued on Monday,Benzinga reports. They currently have a $425.00 price objective on the stock. Rosenblatt Securities’ price target indicates a potential upside of 29.39% from the stock’s current price.

A number of other equities analysts have also commented on the stock. Scotiabank raised their price objective on shares of MongoDB from $320.00 to $415.00 and gave the company a “sector perform” rating in a research report on Tuesday, December 2nd. BMO Capital Markets cut their price target on shares of MongoDB from $455.00 to $400.00 and set an “outperform” rating for the company in a report on Thursday. Macquarie Infrastructure upped their price target on shares of MongoDB from $305.00 to $385.00 and gave the stock a “neutral” rating in a report on Tuesday, December 2nd. Sanford C. Bernstein lifted their price objective on MongoDB from $338.00 to $452.00 and gave the company an “outperform” rating in a research note on Tuesday, December 2nd. Finally, DA Davidson reduced their target price on MongoDB from $465.00 to $385.00 and set a “buy” rating for the company in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, MongoDB presently has an average rating of “Moderate Buy” and an average target price of $416.15.

MongoDB Price Performance

NASDAQ:MDB opened at $328.47 on Monday. MongoDB has a 1 year low of $140.78 and a 1 year high of $444.72. The stock’s fifty day moving average price is $385.52 and its two-hundred day moving average price is $350.92. The company has a market cap of $26.73 billion, a P/E ratio of -377.55 and a beta of 1.40.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Monday, December 1st. The company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.53. MongoDB had a negative return on equity of 1.12% and a negative net margin of 3.06%.The business had revenue of $628.31 million for the quarter, compared to analysts’ expectations of $592.98 million. During the same quarter in the prior year, the firm posted $1.16 EPS. The firm’s quarterly revenue was up 18.7% on a year-over-year basis. On average, analysts expect that MongoDB will post -1.78 earnings per share for the current fiscal year.

Insider Buying and Selling at MongoDB

In other news, Director Hope F. Cochran sold 1,566 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $421.85, for a total transaction of $660,617.10. Following the completion of the transaction, the director directly owned 25,659 shares of the company’s stock, valued at approximately $10,824,249.15. This represents a 5.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Roelof Botha sold 24,850 shares of the firm’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $405.85, for a total value of $10,085,372.50. Following the completion of the sale, the director directly owned 194,600 shares in the company, valued at $78,978,410. The trade was a 11.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 61,354 shares of company stock worth $25,114,994. 3.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC grew its position in MongoDB by 31.6% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,363 shares of the company’s stock valued at $239,000 after purchasing an additional 327 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of MongoDB by 55.0% during the first quarter. NewEdge Advisors LLC now owns 4,238 shares of the company’s stock valued at $743,000 after buying an additional 1,504 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of MongoDB during the second quarter valued at approximately $329,000. AlphaQuest LLC raised its holdings in MongoDB by 257.1% in the 2nd quarter. AlphaQuest LLC now owns 650 shares of the company’s stock worth $136,000 after acquiring an additional 468 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its position in MongoDB by 13.3% in the 2nd quarter. Teacher Retirement System of Texas now owns 12,329 shares of the company’s stock valued at $2,589,000 after acquiring an additional 1,447 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors.

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.