MongoDB’s (MDB) “Market Outperform” Rating Reaffirmed at JMP Securities

JMP Securities reissued their market outperform rating on shares of MongoDB (NASDAQ:MDB) in a research report released on Thursday,Benzinga reports. The firm currently has a $345.00 price objective on the stock.

Other equities analysts have also issued reports about the stock. Monness Crespi & Hardt upgraded shares of MongoDB from a “neutral” rating to a “buy” rating and set a $295.00 price objective on the stock in a report on Thursday. Loop Capital downgraded shares of MongoDB from a “buy” rating to a “hold” rating and lowered their target price for the company from $350.00 to $190.00 in a research note on Tuesday, May 20th. Canaccord Genuity Group lowered their target price on shares of MongoDB from $385.00 to $320.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Stifel Nicolaus lowered their target price on shares of MongoDB from $340.00 to $275.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Finally, Redburn Atlantic raised shares of MongoDB from a “sell” rating to a “neutral” rating and set a $170.00 target price for the company in a research note on Thursday, April 17th. Eight research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $282.00.

MongoDB Price Performance

Shares of NASDAQ MDB opened at $225.38 on Thursday. The company’s 50 day simple moving average is $175.65 and its 200 day simple moving average is $230.40. MongoDB has a fifty-two week low of $140.78 and a fifty-two week high of $370.00. The firm has a market capitalization of $18.30 billion, a P/E ratio of -82.26 and a beta of 1.40.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data 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. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business had revenue of $549.01 million for the quarter, compared to analyst estimates of $527.49 million. During the same period in the prior year, the business posted $0.51 earnings per share. MongoDB’s revenue was up 21.8% compared to the same quarter last year. Sell-side analysts expect that MongoDB will post -1.78 EPS for the current fiscal year.

Insider Activity at MongoDB

In related news, insider Cedric Pech sold 1,690 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The shares were 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Hope F. Cochran sold 1,175 shares of the firm’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $174.69, for a total transaction of $205,260.75. Following the completion of the transaction, the director now directly owns 19,333 shares of the company’s stock, valued at approximately $3,377,281.77. This trade represents a 5.73% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,203 shares of company stock valued at $3,848,569. Corporate insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MDB. Acadian Asset Management LLC lifted its stake in MongoDB by 181.8% in the first quarter. Acadian Asset Management LLC now owns 562,190 shares of the company’s stock valued at $98,586,000 after acquiring an additional 362,705 shares during the last quarter. IFM Investors Pty Ltd lifted its stake in MongoDB by 4.3% in the first quarter. IFM Investors Pty Ltd now owns 13,796 shares of the company’s stock valued at $2,420,000 after acquiring an additional 569 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in MongoDB by 11.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,271,444 shares of the company’s stock valued at $223,011,000 after acquiring an additional 129,451 shares during the last quarter. Woodline Partners LP lifted its stake in MongoDB by 30,297.0% in the first quarter. Woodline Partners LP now owns 322,208 shares of the company’s stock valued at $56,515,000 after acquiring an additional 321,148 shares during the last quarter. Finally, Meiji Yasuda Life Insurance Co lifted its stake in MongoDB by 36.1% in the first quarter. Meiji Yasuda Life Insurance Co now owns 3,997 shares of the company’s stock valued at $701,000 after acquiring an additional 1,060 shares during the last quarter. 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.