MongoDB (NASDAQ:MDB) Raised to “Buy” at DA Davidson

MongoDB (NASDAQ:MDBGet Free Report) was upgraded by DA Davidson from a “neutral” rating to a “buy” rating in a research note issued on Friday, FinViz reports. The brokerage presently has a $430.00 price objective on the stock, up from their previous price objective of $405.00. DA Davidson’s price objective points to a potential upside of 4.37% from the stock’s previous close.

MDB has been the subject of several other reports. TheStreet upgraded shares of MongoDB from a “d+” rating to a “c-” rating in a report on Friday, December 1st. Truist Financial increased their price objective on shares of MongoDB from $440.00 to $500.00 and gave the stock a “buy” rating in a research note on Tuesday, February 20th. Piper Sandler raised their target price on shares of MongoDB from $425.00 to $500.00 and gave the company an “overweight” rating in a research note on Wednesday, December 6th. Stifel Nicolaus reaffirmed a “buy” rating and set a $450.00 target price on shares of MongoDB in a research note on Monday, December 4th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $495.00 price objective on shares of MongoDB in a research report on Wednesday, January 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $440.75.

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MongoDB Price Performance

Shares of NASDAQ:MDB opened at $412.01 on Friday. The company’s fifty day moving average price is $423.43 and its 200-day moving average price is $391.41. The firm has a market capitalization of $29.74 billion, a price-to-earnings ratio of -156.06 and a beta of 1.24. MongoDB has a one year low of $189.59 and a one year high of $509.62. The company has a debt-to-equity ratio of 1.18, a current ratio of 4.74 and a quick ratio of 4.74.

MongoDB (NASDAQ:MDBGet Free Report) last issued its quarterly earnings results on Tuesday, December 5th. The company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.45. The firm had revenue of $432.94 million for the quarter, compared to analyst estimates of $406.33 million. MongoDB had a negative net margin of 11.70% and a negative return on equity of 20.64%. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.23) EPS. On average, equities research analysts anticipate that MongoDB will post -1.63 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Thomas Bull sold 359 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $404.38, for a total transaction of $145,172.42. Following the transaction, the chief accounting officer now owns 16,313 shares of the company’s stock, valued at $6,596,650.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other MongoDB news, CAO Thomas Bull sold 359 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $404.38, for a total transaction of $145,172.42. Following the transaction, the chief accounting officer now owns 16,313 shares of the company’s stock, valued at $6,596,650.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CRO Cedric Pech sold 1,248 shares of the stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $400.00, for a total transaction of $499,200.00. Following the transaction, the executive now directly owns 25,425 shares in the company, valued at approximately $10,170,000. The disclosure for this sale can be found here. Insiders have sold 54,607 shares of company stock worth $23,116,062 over the last ninety days. 4.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MongoDB

Hedge funds have recently made changes to their positions in the business. Transcendent Capital Group LLC purchased a new position in shares of MongoDB in the 4th quarter valued at $25,000. KB Financial Partners LLC acquired a new stake in MongoDB during the 2nd quarter valued at $27,000. Blue Trust Inc. grew its holdings in MongoDB by 937.5% during the 4th quarter. Blue Trust Inc. now owns 83 shares of the company’s stock valued at $34,000 after purchasing an additional 75 shares in the last quarter. BluePath Capital Management LLC acquired a new stake in MongoDB during the 3rd quarter valued at $30,000. Finally, Parkside Financial Bank & Trust grew its holdings in MongoDB by 176.5% during the 2nd quarter. Parkside Financial Bank & Trust now owns 94 shares of the company’s stock valued at $39,000 after purchasing an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

MongoDB Company Profile

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MongoDB, Inc provides general purpose database platform worldwide. The company offers 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-premise, 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.

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Analyst Recommendations for MongoDB (NASDAQ:MDB)

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