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MongoDB, Inc. (NASDAQ:MDB – Get Free Report) traded up 7.4% during mid-day trading on Tuesday . The stock traded as high as $285.10 and last traded at $284.28. 819,510 shares were traded during trading, a decline of 43% from the average session volume of 1,427,558 shares. The stock had previously closed at $264.58.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on the company. China Renaissance began coverage on MongoDB in a research note on Tuesday, January 21st. They set a “buy” rating and a $351.00 target price for the company. Loop Capital upped their price objective on MongoDB from $315.00 to $400.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. KeyCorp lifted their target price on MongoDB from $330.00 to $375.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Royal Bank of Canada increased their target price on shares of MongoDB from $350.00 to $400.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Finally, Monness Crespi & Hardt lowered shares of MongoDB from a “neutral” rating to a “sell” rating and set a $220.00 price target on the stock. in a report on Monday, December 16th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $361.00.
Check Out Our Latest Report on MDB
MongoDB Stock Performance
The stock has a market capitalization of $20.35 billion, a P/E ratio of -99.75 and a beta of 1.25. The business has a fifty day simple moving average of $272.39 and a 200-day simple moving average of $269.78.
MongoDB (NASDAQ:MDB – Get Free Report) last posted its quarterly earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.48. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business had revenue of $529.40 million during the quarter, compared to analysts’ expectations of $497.39 million. During the same period last year, the company posted $0.96 earnings per share. The business’s quarterly revenue was up 22.3% on a year-over-year basis. On average, sell-side analysts anticipate that MongoDB, Inc. will post -1.78 earnings per share for the current year.
Insider Activity
In other MongoDB news, Director Dwight A. Merriman sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $269.57, for a total transaction of $808,710.00. Following the completion of the sale, the director now directly owns 1,127,006 shares of the company’s stock, valued at approximately $303,807,007.42. The trade was a 0.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Dev Ittycheria sold 8,335 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $254.86, for a total value of $2,124,258.10. Following the completion of the transaction, the chief executive officer now owns 217,294 shares in the company, valued at $55,379,548.84. This represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,491 shares of company stock worth $11,554,190 over the last quarter. 3.60% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On MongoDB
Several large investors have recently bought and sold shares of MDB. Hilltop National Bank raised its holdings in shares of MongoDB by 47.2% in the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock valued at $30,000 after purchasing an additional 42 shares during the last quarter. Quarry LP lifted its position in shares of MongoDB by 2,580.0% during the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after buying an additional 129 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of MongoDB in the 3rd quarter worth approximately $36,000. GAMMA Investing LLC grew its holdings in shares of MongoDB by 178.8% in the third quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock valued at $39,000 after acquiring an additional 93 shares in the last quarter. Finally, Continuum Advisory LLC increased its position in shares of MongoDB by 621.1% during the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after acquiring an additional 118 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors.
About MongoDB
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.
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