MongoDB (NASDAQ:MDB) Now Covered by Analysts at Rosenblatt Securities

Investment analysts at Rosenblatt Securities assumed coverage on shares of MongoDB (NASDAQ:MDB) in a research note issued on Tuesday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $350.00 price target on the stock. Rosenblatt Securities’ price target would indicate a potential upside of 38.52% from the company’s current price.

A number of other equities analysts also recently commented on the company. Wedbush upgraded MongoDB to a “strong-buy” rating in a report on Thursday, October 17th. UBS Group upped their price objective on shares of MongoDB from $250.00 to $275.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Needham & Company LLC lifted their target price on shares of MongoDB from $335.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Loop Capital boosted their price target on shares of MongoDB from $315.00 to $400.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Finally, Truist Financial restated a “buy” rating and issued a $400.00 price objective (up from $320.00) on shares of MongoDB in a report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $366.14.

MongoDB Stock Down 4.7 %

Shares of MDB opened at $252.67 on Tuesday. The firm has a fifty day simple moving average of $292.95 and a two-hundred day simple moving average of $267.40. MongoDB has a twelve month low of $212.74 and a twelve month high of $509.62. The stock has a market capitalization of $18.66 billion, a P/E ratio of -92.21 and a beta of 1.17.

MongoDB (NASDAQ:MDB) last posted its earnings results on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.48. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company had revenue of $529.40 million for the quarter, compared to analysts’ expectations of $497.39 million. During the same period last year, the firm earned $0.96 earnings per share. MongoDB’s quarterly revenue was up 22.3% on a year-over-year basis. Sell-side analysts expect that MongoDB will post -2.29 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total value of $768,750.00. Following the completion of the sale, the director now directly owns 1,131,006 shares in the company, valued at $289,820,287.50. The trade was a 0.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Thomas Bull sold 154 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total transaction of $39,462.50. Following the transaction, the chief accounting officer now owns 16,068 shares in the company, valued at approximately $4,117,425. This trade represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,600 shares of company stock worth $8,951,099 in the last three months. Insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

A number of hedge funds have recently added to or reduced their stakes in MDB. Blue Trust Inc. increased its position in shares of MongoDB by 26.6% during the 2nd quarter. Blue Trust Inc. now owns 538 shares of the company’s stock valued at $134,000 after purchasing an additional 113 shares during the last quarter. Fifth Third Bancorp increased its holdings in MongoDB by 7.6% during the second quarter. Fifth Third Bancorp now owns 620 shares of the company’s stock valued at $155,000 after buying an additional 44 shares during the last quarter. MN Wealth Advisors LLC bought a new position in MongoDB in the second quarter worth approximately $576,000. Louisiana State Employees Retirement System boosted its stake in shares of MongoDB by 1.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 5,800 shares of the company’s stock worth $1,450,000 after acquiring an additional 100 shares during the last quarter. Finally, Slow Capital Inc. grew its position in shares of MongoDB by 3.7% during the 2nd quarter. Slow Capital Inc. now owns 15,902 shares of the company’s stock valued at $3,975,000 after acquiring an additional 573 shares during the period. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

MongoDB Company Profile

MongoDB, Inc, together with its subsidiaries, provides general purpose database platform worldwide. The company provides 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-premises, 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.