Equities researchers at Canaccord Genuity began coverage on shares of Mongodb (NASDAQ:MDB) in a report released on Wednesday. The firm set a “buy” rating on the stock.

The analysts wrote, “Summary and Recommendation We are initiating coverage of LivePerson, Inc. (LPSN) with a Buy rating and a 12-month price target of $16.50 per share. At a high level, we see LPSN as a thematic play on the shift from desktop to mobile computing, and we believe investors will latch onto the company‚Äôs exposure to favorable trends in mobile messaging and the rise of bots. LPSN pioneered the market for real- time business-to-consumer (B2C) chat solutions during the dot-com era, enabling enterprises to provide digital sales and support services via desktop browsers as Internet adoption took hold. With mobile devices now proliferating and messaging apps commanding the greatest usage among consumers, we believe the company is poised to benefit from a new product cycle.””

Several other equities analysts have also commented on the stock. Canaccord Genuity Group assumed coverage on shares of Mongodb in a report on Wednesday, November 15th. They set a “buy” rating and a $35.00 target price on the stock. Morgan Stanley assumed coverage on shares of Mongodb in a report on Monday, November 13th. They set an “equal weight” rating and a $31.00 target price on the stock. Stifel Nicolaus assumed coverage on shares of Mongodb in a report on Monday, November 13th. They set a “buy” rating and a $34.00 target price on the stock. JMP Securities assumed coverage on shares of Mongodb in a report on Monday, November 13th. They set a “market perform” rating on the stock. Finally, Goldman Sachs Group assumed coverage on shares of Mongodb in a report on Monday, November 13th. They set a “neutral” rating and a $30.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $33.83.

Shares of Mongodb (MDB) traded down $1.65 during trading hours on Wednesday, hitting $27.35. 710,071 shares of the stock were exchanged, compared to its average volume of 428,197. Mongodb has a 1 year low of $24.62 and a 1 year high of $34.00.

Mongodb (NASDAQ:MDB) last released its earnings results on Tuesday, December 12th. The company reported ($1.39) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.49) by ($0.90). The company had revenue of $41.50 million for the quarter, compared to the consensus estimate of $37.21 million. The business’s revenue for the quarter was up 57.8% on a year-over-year basis. equities research analysts expect that Mongodb will post -1.84 earnings per share for the current fiscal year.

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About Mongodb

MongoDB, Inc is a United States-based modern, general purpose database platform. Its platform is designed to run applications at scale across a broad range of use cases in the cloud, on-premise or in a hybrid environment. Its primary subscription package is MongoDB Enterprise Advanced, which includes its proprietary database server, security, enterprise management capabilities, its graphical user interface, analytics integrations and technical support.

Analyst Recommendations for Mongodb (NASDAQ:MDB)

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