Macquarie Reaffirms “Neutral” Rating for MongoDB (NASDAQ:MDB)

MongoDB (NASDAQ:MDB)‘s stock had its “neutral” rating restated by equities research analysts at Macquarie in a research note issued on Friday, MarketBeat.com reports. They presently have a $230.00 price target on the stock, up from their previous price target of $215.00. Macquarie’s price target would indicate a potential upside of 4.48% from the company’s current price.

MDB has been the subject of a number of other reports. Guggenheim lifted their price target on MongoDB from $235.00 to $260.00 and gave the company a “buy” rating in a report on Thursday. Morgan Stanley dropped their price objective on MongoDB from $315.00 to $235.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Canaccord Genuity Group dropped their price objective on MongoDB from $385.00 to $320.00 and set a “buy” rating for the company in a report on Thursday, March 6th. The Goldman Sachs Group dropped their price objective on MongoDB from $390.00 to $335.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Finally, Redburn Atlantic raised MongoDB from a “sell” rating to a “neutral” rating and set a $170.00 price objective for the company in a report on Thursday, April 17th. Eight investment analysts have rated the stock with a hold rating, twenty-four have given 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 an average rating of “Moderate Buy” and an average target price of $282.47.

MongoDB Stock Down 2.3%

MongoDB stock opened at $220.14 on Friday. The stock has a 50-day simple moving average of $176.52 and a 200 day simple moving average of $229.93. MongoDB has a 12-month low of $140.78 and a 12-month high of $370.00. The stock has a market capitalization of $17.87 billion, a price-to-earnings ratio of -80.34 and a beta of 1.40.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.35. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The business had revenue of $549.01 million during the quarter, compared to analysts’ expectations of $527.49 million. During the same period in the previous year, the business posted $0.51 earnings per share. The firm’s revenue for the quarter was up 21.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that MongoDB will post -1.78 EPS for the current year.

Insider Activity at MongoDB

In related news, insider Cedric Pech sold 1,690 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $9,985,666.84. The trade was a 2.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Thomas Bull sold 301 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were 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 $2,529,103.50. This represents a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 22,203 shares of company stock worth $3,848,569. 3.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On MongoDB

Institutional investors and hedge funds have recently modified their holdings of the business. HighTower Advisors LLC grew its position in shares of MongoDB by 2.0% in the 4th quarter. HighTower Advisors LLC now owns 18,773 shares of the company’s stock valued at $4,371,000 after purchasing an additional 372 shares during the period. Jones Financial Companies Lllp boosted its position in MongoDB by 68.0% during the 4th quarter. Jones Financial Companies Lllp now owns 1,020 shares of the company’s stock worth $237,000 after acquiring an additional 413 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in MongoDB by 56.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 370 shares of the company’s stock worth $87,000 after acquiring an additional 134 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in MongoDB by 12.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,168 shares of the company’s stock worth $272,000 after acquiring an additional 133 shares during the last quarter. Finally, Stanley Laman Group Ltd. acquired a new position in MongoDB during the 4th quarter worth approximately $7,520,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

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.