MongoDB (MDB) Trading 7.1% Higher

MongoDB Inc. (NASDAQ:MDB) traded up 7.1% during mid-day trading on Thursday . The company traded as high as $37.62 and last traded at $37.39. 2,301,239 shares changed hands during mid-day trading, an increase of 354% from the average session volume of 506,752 shares. The stock had previously closed at $34.90.

A number of equities research analysts recently issued reports on the company. Barclays increased their price objective on MongoDB from $45.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, April 5th. Monness Crespi & Hardt assumed coverage on MongoDB in a research report on Wednesday, April 11th. They issued a “buy” rating and a $51.00 price objective on the stock. Zacks Investment Research upgraded MongoDB from a “sell” rating to a “hold” rating in a research report on Saturday, March 17th. Morgan Stanley reiterated an “equal weight” rating and issued a $35.00 price objective (up previously from $32.00) on shares of MongoDB in a research report on Wednesday, March 14th. Finally, Stifel Nicolaus increased their price objective on MongoDB from $34.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, March 14th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. MongoDB presently has a consensus rating of “Buy” and a consensus target price of $39.10.

The stock has a market cap of $1,758.49 and a price-to-earnings ratio of -21.49.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Tuesday, March 13th. The company reported ($0.40) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.43) by $0.03. The firm had revenue of $45.00 million for the quarter, compared to analysts’ expectations of $42.60 million. The business’s revenue for the quarter was up 50.5% compared to the same quarter last year. analysts expect that MongoDB Inc. will post -1.63 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zimmer Partners LP purchased a new position in shares of MongoDB in the fourth quarter worth about $4,600,000. Millennium Management LLC purchased a new position in shares of MongoDB in the fourth quarter worth about $11,579,000. Wolverine Trading LLC purchased a new position in shares of MongoDB in the fourth quarter worth about $295,000. HBK Investments L P purchased a new position in shares of MongoDB in the fourth quarter worth about $2,226,000. Finally, Goldman Sachs Group Inc. purchased a new position in shares of MongoDB in the fourth quarter worth about $4,493,000. Institutional investors and hedge funds own 26.82% of the company’s stock.

About MongoDB

MongoDB, Inc operates as a general purpose database platform worldwide. The company offers MongoDB Enterprise Advanced, a subscription package for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; MongoDB Atlas, a cloud-hosted database-as-a-service solution; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.

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