MongoDB (NASDAQ:MDB) Earns Buy Rating from DA Davidson

DA Davidson restated their buy rating on shares of MongoDB (NASDAQ:MDB) in a research report report published on Thursday morning,Benzinga reports. DA Davidson currently has a $275.00 target price on the stock.

Several other research firms have also recently weighed in on MDB. Guggenheim lifted their price target on shares of MongoDB from $235.00 to $260.00 and gave the company a “buy” rating in a report on Thursday. UBS Group lifted their price target on shares of MongoDB from $213.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday. Wells Fargo & Company cut shares of MongoDB from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $365.00 to $225.00 in a report on Thursday, March 6th. Monness Crespi & Hardt upgraded shares of MongoDB from a “neutral” rating to a “buy” rating and set a $295.00 price target on the stock in a report on Thursday. Finally, Stifel Nicolaus cut their price target on shares of MongoDB from $340.00 to $275.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Eight analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $282.00.

MongoDB Stock Performance

Shares of MongoDB stock opened at $225.38 on Thursday. MongoDB has a 52-week low of $140.78 and a 52-week high of $370.00. The stock has a market capitalization of $18.30 billion, a price-to-earnings ratio of -82.26 and a beta of 1.40. The company’s 50 day moving average price is $175.65 and its 200-day moving average price is $230.40.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share 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 analysts’ expectations of $527.49 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The firm’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.51 earnings per share. As a group, equities research analysts forecast that MongoDB will post -1.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other MongoDB news, CAO Thomas Bull sold 301 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.25, for a total value of $52,148.25. Following the completion of the transaction, the chief accounting officer now owns 14,598 shares of the company’s stock, valued at approximately $2,529,103.50. The trade was a 2.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Cedric Pech sold 1,690 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total value of $292,809.40. Following the completion of the transaction, the insider now directly owns 57,634 shares of the company’s stock, valued at approximately $9,985,666.84. This trade represents a 2.85% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,203 shares of company stock valued at $3,848,569. 3.10% of the stock is owned by insiders.

Institutional Investors Weigh In On MongoDB

Large investors have recently made changes to their positions in the company. Cloud Capital Management LLC bought a new stake in shares of MongoDB during the 1st quarter valued at about $25,000. Hollencrest Capital Management purchased a new stake in MongoDB during the 1st quarter valued at approximately $26,000. Cullen Frost Bankers Inc. grew its holdings in MongoDB by 315.8% during the 1st quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company’s stock valued at $28,000 after buying an additional 120 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in MongoDB during the 4th quarter valued at approximately $29,000. Finally, NCP Inc. purchased a new stake in MongoDB during the 4th quarter valued at approximately $35,000. 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.