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BMO Capital Markets initiated coverage on shares of MongoDB (NASDAQ:MDB – Free Report) in a research note released on Monday, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $280.00 price target on the stock.
Other equities analysts also recently issued research reports about the company. Royal Bank Of Canada reiterated an “outperform” rating and issued a $320.00 price objective on shares of MongoDB in a research note on Thursday, June 5th. Stephens started coverage on shares of MongoDB in a report on Friday, July 18th. They set an “equal weight” rating and a $247.00 target price on the stock. DA Davidson reissued a “buy” rating and set a $275.00 target price on shares of MongoDB in a report on Thursday, June 5th. Rosenblatt Securities lowered their target price on shares of MongoDB from $305.00 to $290.00 and set a “buy” rating on the stock in a report on Thursday, June 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $270.00 price target on shares of MongoDB in a report on Thursday, June 5th. Nine analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $281.31.
View Our Latest Stock Analysis on MongoDB
MongoDB Price Performance
Shares of MDB stock traded down $3.53 during trading hours on Monday, hitting $240.88. The stock had a trading volume of 1,793,244 shares, compared to its average volume of 2,009,958. The stock’s 50 day moving average is $208.62 and its 200 day moving average is $212.38. MongoDB has a twelve month low of $140.78 and a twelve month high of $370.00. The firm has a market capitalization of $19.68 billion, a PE ratio of -211.30 and a beta of 1.41.
MongoDB (NASDAQ:MDB – Get Free Report) last posted its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.35. The business had revenue of $549.01 million for the quarter, compared to analyst estimates of $527.49 million. MongoDB had a negative return on equity of 3.16% and a negative net margin of 4.09%. The business’s revenue was up 21.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.51 EPS. As a group, equities analysts predict that MongoDB will post -1.78 earnings per share for the current year.
Insider Activity
In other MongoDB news, CEO Dev Ittycheria sold 8,335 shares of the company’s stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $243.89, for a total transaction of $2,032,823.15. Following the completion of the transaction, the chief executive officer owned 236,557 shares of the company’s stock, valued at $57,693,886.73. This represents a 3.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Dwight A. Merriman sold 1,000 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $245.00, for a total value of $245,000.00. Following the completion of the transaction, the director directly owned 1,104,316 shares of the company’s stock, valued at $270,557,420. This represents a 0.09% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,416 shares of company stock valued at $11,936,656. Insiders own 3.10% of the company’s stock.
Institutional Trading of MongoDB
Several hedge funds have recently bought and sold shares of the stock. Cloud Capital Management LLC bought a new position in MongoDB in the first quarter worth approximately $25,000. Hollencrest Capital Management bought a new position in MongoDB in the first quarter worth approximately $26,000. Cullen Frost Bankers Inc. grew its stake in MongoDB by 315.8% in the first quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company’s stock worth $28,000 after purchasing an additional 120 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in MongoDB in the fourth quarter worth approximately $29,000. Finally, Coppell Advisory Solutions LLC lifted its holdings in MongoDB by 364.0% during the fourth quarter. Coppell Advisory Solutions LLC now owns 232 shares of the company’s stock worth $54,000 after buying an additional 182 shares during the period. Institutional investors own 89.29% of the company’s stock.
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.
Further Reading
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