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MongoDB (NASDAQ:MDB) Coverage Initiated by Analysts at Robert W. Baird

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Robert W. Baird started coverage on shares of MongoDB (NASDAQ:MDBGet Rating) in a research note published on Tuesday, The Fly reports. The brokerage issued an outperform rating on the stock.

Several other equities analysts have also recently weighed in on MDB. UBS Group lifted their target price on MongoDB from $315.00 to $345.00 and gave the company a buy rating in a research note on Wednesday, June 8th. Oppenheimer reduced their price target on MongoDB from $490.00 to $400.00 and set an outperform rating for the company in a report on Thursday, June 2nd. Morgan Stanley reduced their price target on MongoDB from $378.00 to $368.00 and set an overweight rating for the company in a report on Thursday, June 2nd. Mizuho reduced their price target on MongoDB from $325.00 to $270.00 and set a neutral rating for the company in a report on Wednesday, May 18th. Finally, Citigroup lifted their price target on MongoDB from $405.00 to $425.00 in a report on Thursday, June 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, MongoDB has a consensus rating of Moderate Buy and an average price target of $406.82.

Shares of NASDAQ MDB opened at $291.24 on Tuesday. MongoDB has a fifty-two week low of $213.39 and a fifty-two week high of $590.00. The firm’s 50-day simple moving average is $269.32 and its 200 day simple moving average is $355.28. The company has a quick ratio of 4.16, a current ratio of 4.16 and a debt-to-equity ratio of 1.69. The stock has a market cap of $19.84 billion, a P/E ratio of -60.17 and a beta of 0.91.

MongoDB (NASDAQ:MDBGet Rating) last issued its quarterly earnings results on Wednesday, June 1st. The company reported ($1.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.34) by $0.19. MongoDB had a negative return on equity of 45.56% and a negative net margin of 32.75%. The firm had revenue of $285.45 million for the quarter, compared to analysts’ expectations of $267.10 million. During the same quarter last year, the business posted ($0.98) EPS. MongoDB’s revenue was up 57.1% on a year-over-year basis. On average, sell-side analysts anticipate that MongoDB will post -5.09 earnings per share for the current fiscal year.

In other news, Director Dwight A. Merriman sold 14,000 shares of the business’s stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $349.22, for a total transaction of $4,889,080.00. Following the sale, the director now directly owns 1,323,384 shares in the company, valued at $462,152,160.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Dwight A. Merriman sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $251.74, for a total value of $755,220.00. Following the sale, the director now owns 544,896 shares in the company, valued at $137,172,119.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,597 shares of company stock worth $23,412,579. Company insiders own 5.70% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in MDB. Vanguard Group Inc. grew its position in MongoDB by 2.1% in the first quarter. Vanguard Group Inc. now owns 5,970,224 shares of the company’s stock valued at $2,648,332,000 after acquiring an additional 121,201 shares during the period. State Street Corp grew its position in MongoDB by 0.6% in the first quarter. State Street Corp now owns 1,343,657 shares of the company’s stock valued at $596,033,000 after acquiring an additional 7,389 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in MongoDB in the fourth quarter valued at $674,390,000. 1832 Asset Management L.P. grew its position in MongoDB by 19.3% in the first quarter. 1832 Asset Management L.P. now owns 1,028,400 shares of the company’s stock valued at $450,095,000 after acquiring an additional 166,400 shares during the period. Finally, Geode Capital Management LLC grew its position in MongoDB by 7.1% in the fourth quarter. Geode Capital Management LLC now owns 864,250 shares of the company’s stock valued at $456,904,000 after acquiring an additional 56,940 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

About MongoDB (Get Rating)

MongoDB, Inc provides general purpose database platform worldwide. The company offers MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; MongoDB Atlas, a hosted multi-cloud 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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Article originally posted on mongodb google news. Visit mongodb google news

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