Stephens initiated coverage on shares of MongoDB (NASDAQ:MDB – Get Free Report) in a research report issued to clients and investors on Friday, Marketbeat.com reports. The firm set an “equal weight” rating and a $247.00 price target on the stock. Stephens’ target price indicates a potential upside of 12.08% from the stock’s previous close.

Several other brokerages also recently weighed in on MDB. Royal Bank Of Canada reissued an “outperform” rating and set a $320.00 price target on shares of MongoDB in a research report on Thursday, June 5th. Guggenheim raised their price target on shares of MongoDB from $235.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, June 5th. Wedbush reaffirmed an “outperform” rating and issued a $300.00 target price on shares of MongoDB in a report on Thursday, June 5th. Monness Crespi & Hardt raised MongoDB from a “neutral” rating to a “buy” rating and set a $295.00 target price on the stock in a report on Thursday, June 5th. Finally, William Blair reaffirmed an “outperform” rating on shares of MongoDB in a report on Thursday, June 26th. Nine research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $281.35.

Check Out Our Latest Analysis on MDB

MongoDB Trading Up 5.1%

MongoDB stock opened at $220.38 on Friday. MongoDB has a 12 month low of $140.78 and a 12 month high of $370.00. The business’s 50 day simple moving average is $201.86 and its 200 day simple moving average is $213.26. The company has a market cap of $18.01 billion, a price-to-earnings ratio of -193.32 and a beta of 1.41.

MongoDB (NASDAQ:MDB – Get Free Report) last issued its quarterly earnings data on Wednesday, June 4th. The company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.65 by $0.35. MongoDB had a negative net margin of 4.09% and a negative return on equity of 3.16%. The business had revenue of $549.01 million during the quarter, compared to analyst estimates of $527.49 million. During the same period last year, the business posted $0.51 earnings per share. MongoDB’s quarterly revenue was up 21.8% compared to the same quarter last year. As a group, equities research analysts forecast that MongoDB will post -1.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Dev Ittycheria sold 3,747 shares of the company’s stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $206.05, for a total transaction of $772,069.35. Following the sale, the chief executive officer directly owned 253,227 shares of the company’s stock, valued at $52,177,423.35. This represents a 1.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Hope F. Cochran sold 1,174 shares of the company’s stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $201.08, for a total transaction of $236,067.92. Following the sale, the director directly owned 21,096 shares in the company, valued at approximately $4,241,983.68. The trade was a 5.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,746 shares of company stock valued at $7,500,196 in the last ninety days. Company insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MDB. OneDigital Investment Advisors LLC boosted its stake in MongoDB by 3.9% during the 4th quarter. OneDigital Investment Advisors LLC now owns 1,044 shares of the company’s stock worth $243,000 after purchasing an additional 39 shares during the period. Handelsbanken Fonder AB increased its holdings in shares of MongoDB by 0.4% in the 1st quarter. Handelsbanken Fonder AB now owns 14,816 shares of the company’s stock valued at $2,599,000 after purchasing an additional 65 shares in the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of MongoDB by 4.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,647 shares of the company’s stock valued at $383,000 after purchasing an additional 75 shares in the last quarter. Wedbush Securities Inc. increased its holdings in shares of MongoDB by 2.6% in the 1st quarter. Wedbush Securities Inc. now owns 3,022 shares of the company’s stock valued at $530,000 after purchasing an additional 77 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in shares of MongoDB by 15.9% in the 1st quarter. Fifth Third Bancorp now owns 569 shares of the company’s stock valued at $100,000 after purchasing an additional 78 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

MongoDB Company Profile

(Get Free Report)

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.

See Also

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