Zacks Investment Research Lowers Mongodb (MDB) to Sell

Mongodb (NASDAQ:MDB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

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 issued reports on the stock. ValuEngine raised shares of Mongodb from a “sell” rating to a “hold” rating in a research note on Thursday, February 8th. Morgan Stanley decreased their price target on shares of Mongodb from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 30th. Nomura assumed coverage on shares of Mongodb in a research note on Tuesday, January 23rd. They issued a “neutral” rating and a $30.00 price target for the company. Canaccord Genuity assumed coverage on shares of Mongodb in a research note on Wednesday, December 13th. They issued a “buy” rating for the company. Finally, Canaccord Genuity Group began coverage on shares of Mongodb in a research note on Wednesday, November 15th. They issued a “buy” rating and a $35.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. Mongodb has a consensus rating of “Hold” and an average price target of $33.25.

Mongodb (NASDAQ:MDB) opened at $27.16 on Wednesday. Mongodb has a one year low of $24.62 and a one year high of $34.00.

Mongodb (NASDAQ:MDB) last released its quarterly earnings results on Tuesday, December 12th. The company reported ($1.39) earnings per share (EPS) for the quarter, missing the Zacks’ 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 firm’s quarterly revenue was up 57.8% compared to the same quarter last year. equities research analysts anticipate that Mongodb will post -1.9 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the business. CI Investments Inc. purchased a new stake in shares of Mongodb during the fourth quarter valued at approximately $2,226,000. Gilder Gagnon Howe & Co. LLC purchased a new stake in shares of Mongodb during the fourth quarter valued at approximately $37,571,000. Essex Investment Management Co. LLC purchased a new stake in shares of Mongodb during the fourth quarter valued at approximately $2,127,000. Thompson Davis & CO. Inc. purchased a new stake in shares of Mongodb during the fourth quarter valued at approximately $103,000. Finally, Brighton Jones LLC purchased a new stake in shares of Mongodb during the fourth quarter valued at approximately $214,000. Institutional investors and hedge funds own 3.18% of the company’s stock.

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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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