MongoDB (NASDAQ:MDB) Upgraded to Buy at Wall Street Zen

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

MDB has been the subject of a number of other reports. Mizuho cut their price objective on MongoDB from $380.00 to $290.00 and set a “neutral” rating for the company in a research report on Tuesday, March 3rd. Raymond James Financial started coverage on shares of MongoDB in a research report on Monday, December 15th. They issued a “market perform” rating on the stock. Wedbush reduced their price target on shares of MongoDB from $440.00 to $380.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 3rd. Cantor Fitzgerald lowered their price objective on shares of MongoDB from $454.00 to $378.00 and set an “overweight” rating for the company in a research report on Tuesday, March 3rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of MongoDB in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, MongoDB presently has an average rating of “Moderate Buy” and an average price target of $354.18.

MongoDB Trading Down 0.1%

Shares of MDB stock opened at $260.50 on Friday. The company’s 50-day moving average price is $354.08 and its 200-day moving average price is $354.11. MongoDB has a twelve month low of $140.78 and a twelve month high of $444.72. The stock has a market cap of $21.20 billion, a price-to-earnings ratio of -296.02 and a beta of 1.40.

MongoDB (NASDAQ:MDB) last posted its earnings results 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 company 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%. MongoDB’s revenue was up 26.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.28 EPS. As a group, equities research analysts predict that MongoDB will post -1.78 EPS for the current year.

Insider Buying and Selling at MongoDB

In related news, Director Hope F. Cochran sold 1,566 shares of MongoDB stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $421.85, for a total value of $660,617.10. Following the completion of the transaction, the director directly owned 25,659 shares in the company, valued at approximately $10,824,249.15. This trade represents a 5.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Dwight A. Merriman sold 1,190 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $369.75, for a total value of $440,002.50. Following the transaction, the director directly owned 80,462 shares of the company’s stock, valued at $29,750,824.50. The trade was a 1.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 21,949 shares of company stock worth $8,981,630. Insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC raised its stake in 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 buying an additional 61 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of MongoDB during the 4th quarter worth about $28,000. Huntington National Bank lifted its stake in MongoDB by 110.9% during the third 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 purchased a new stake in MongoDB during the fourth quarter worth approximately $33,000. Finally, Promus Capital LLC purchased a new stake in shares of MongoDB during the 2nd quarter worth approximately $36,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

About MongoDB

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.