Zacks Investment Research Upgrades Mongodb (MDB) to “Buy”

Mongodb (NASDAQ:MDB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday. The firm presently has a $33.00 price target on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 13.32% from the company’s current price.

According to Zacks, “MongoDB, Inc. provides general purpose database platform. Its products include MongoDB Enterprise Advanced, MongoDB Enterprise for OEM, MongoDB Professional, MongoDB Stitch, MongoDB Atlas, Development Support, Ops Manager, Cloud Manager, Compass, Connector for business intelligence, and Connector for Spark. The company serves financial services, government, healthcare, media and entertainment, retail, technology and telecommunications industries. MongoDB, Inc. is headquartered in New York. “

A number of other equities analysts also recently weighed in on MDB. Needham & Company LLC began coverage on Mongodb in a report on Monday, October 23rd. They issued a “hold” rating on the stock. Barclays began coverage on Mongodb in a report on Monday, November 13th. They issued an “overweight” rating and a $38.00 target price on the stock. Goldman Sachs Group began coverage on Mongodb in a report on Monday, November 13th. They issued a “neutral” rating and a $30.00 target price on the stock. JMP Securities began coverage on Mongodb in a report on Monday, November 13th. They issued a “market perform” rating on the stock. Finally, Canaccord Genuity began coverage on Mongodb in a report on Monday, November 13th. They issued a “buy” rating and a $35.00 target price on the stock. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $33.71.

Mongodb (MDB) traded up $0.04 during midday trading on Friday, reaching $29.12. The company’s stock had a trading volume of 224,015 shares, compared to its average volume of 318,129. The firm has a market cap of $1,470.00 and a P/E ratio of -18.20. Mongodb has a 12-month low of $24.62 and a 12-month high of $34.00.

Mongodb (NASDAQ:MDB) last posted its quarterly earnings data on Tuesday, December 12th. The company reported ($1.39) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.49) by ($0.90). The business had revenue of $41.50 million during the quarter, compared to analysts’ expectations of $37.21 million. The business’s quarterly revenue was up 57.8% on a year-over-year basis. analysts anticipate that Mongodb will post -1.77 earnings per share for the current year.

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Mongodb Company Profile

MongoDB, Inc is a 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.

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