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MongoDB, Inc. (NASDAQ:MDB) has been range bound between the range of $53.8 and $53.8 during the whole day. The stock finished Thursday at $58.21. The 7.62% uptrend helped its market value to reach at $3B. The price went up as high as $53.8 before retreating. Trading activity significantly improved as the volume at ready counter increased to 1,114,134 shares versus 988,680 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 716,297 shares. The stock is now 136.43% above against its bear-market low of $24.62 on November 12, 2017. It has retreated -6.53% since it’s 52-week high of $62.01 reached in July. Now the market price is down 0% on the year and up 96.13% YTD.
MDB’s 50 day simple moving average (SMA 50) price is $53.66 and its stock currently has a total float of 23.61M shares. Its weekly volatility is hovering around 7.43% and felt 4.92% volatility in price over a month. On the upside, the share price will test short term resistance at around $59.87. On a downside, the stock is likely to find some support, which begins at $55.18. The failure to get near-term support could push it to $52.14.
The insider holding in MongoDB, Inc. (MDB) stood at 1% while institutions hold 72.8%. Union Square Gp 2008, L.L.C. is the largest single holder among mutual funds with ownership of over 3.95M MDB shares as of March 31, with a market value of approx. $171.53M as of today. The second largest holder, Gilder Gagnon Howe & Co Llc, with 1.46M shares which equates to $72.67M worth of the stock. At third is Schf (Gpe), Llc, which stood pat with 798088 shares, a 1.32% position in MongoDB, Inc., worth $39.61M.
Separately, it has been reported that multiple insider activity took place at MongoDB, Inc. (MDB). Director Ryan Kevin P sold 24,000 shares for $3,133 in transaction occurred on 2018/07/11. After making this transaction, the Director owns a direct stake of 1,270,560 shares, worth $182,372, as per the last closing price. On 2018/07/02 Bull Thomas, Principal Accounting Officer at MDB, dumped 9,066 shares at an average price of $49.46 per share. The selling total is valued at $461,838.
Chief Technology Officer, Horowitz Eliot had divested 9,262 shares for $89,999 through a trade on 2018/07/02. Following this activity, the insider holds 454,394 shares worth $5,238,842 as of recent close.Wall Street’s most bullish MongoDB, Inc. (NASDAQ:MDB) analysts are predicting the share price to blow past $65 per share during the next 12 months. The current median share price forecast by them is $56, suggesting that the stock could increase -3.8% in that time frame. The average price target of $53.18 calls for a nearly -8.64% increase in the stock price.
It had seen a new analyst call from Rosenblatt, which initiated the stock at Buy on July 09. Analysts at Citigroup, started covering the stock on June 28 with a Neutral rating. Brokerage firm Stifel, looks cautious as they stick to prior recommendation of Buy, in a call on June 07. However, they did change the target price from $47 to $53. Needham, reiterated their call for Buy, on June 07. On the other hand, they had set new target price to $57 versus $52.
Also, it is trading at rather expensive levels at just over 16.97x price/book and 17.59x price/sales. Compared to others, MongoDB, Inc. is in a different league with regards to profitability, having net margins of -62.1%. To put some perspective around this, the industry’s average net margin is 14.26%. MDB’s ROE is -162.2%, which is also considerably worse than the industry’s ROE of 15.96%. It’s also very liquid in the near term, with a current ratio of 2.3. The stock has a debt/capital of 0.
MDB last reported earnings on June 06, 2018 when it released Oct-17 results that exceeded expectations. The company raked in -$0.44 per share, -95.9% change on the same period last year. That was better than consensus for -$0.49. Revenue for the recent quarter stood at $48.22 million, down -11314% on last year and above the $46.41 million predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $56.08 million to $59.65 million, which should be compared with $0 generated last year.
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