Canaccord Genuity restated their buy rating on shares of Mongodb (NASDAQ:MDB) in a research note issued to investors on Thursday, Marketbeat reports. The firm currently has a $95.00 price target on the stock, up from their prior price target of $78.00. The analysts noted that the move was a valuation call.

Several other research analysts have also weighed in on MDB. Monness Crespi & Hardt upped their target price on shares of Mongodb from $90.00 to $110.00 and gave the stock a buy rating in a research report on Thursday. Zacks Investment Research raised shares of Mongodb from a sell rating to a hold rating in a report on Thursday, November 1st. DA Davidson initiated coverage on shares of Mongodb in a report on Tuesday, October 2nd. They issued a neutral rating and a $80.00 price target on the stock. Oppenheimer initiated coverage on shares of Mongodb in a report on Wednesday, October 17th. They issued an outperform rating and a $80.00 price target on the stock. Finally, Morgan Stanley upped their price target on shares of Mongodb from $41.00 to $66.00 and gave the company an equal weight rating in a report on Thursday, August 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company’s stock. Mongodb presently has a consensus rating of Buy and a consensus target price of $81.85.

MDB traded down $4.49 on Thursday, hitting $86.25. 27,704 shares of the company were exchanged, compared to its average volume of 1,286,751. The company has a current ratio of 3.74, a quick ratio of 3.74 and a debt-to-equity ratio of 1.01. Mongodb has a fifty-two week low of $24.62 and a fifty-two week high of $92.03. The firm has a market capitalization of $4.37 billion, a P/E ratio of -49.34 and a beta of -0.64.

Mongodb (NASDAQ:MDB) last issued its earnings results on Tuesday, December 4th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.56) by $0.26. Mongodb had a negative net margin of 54.74% and a negative return on equity of 55.21%. The company had revenue of $65.00 million for the quarter, compared to analyst estimates of $60.26 million. During the same period in the prior year, the business posted ($0.44) earnings per share. The firm’s revenue for the quarter was up 56.6% compared to the same quarter last year. Analysts predict that Mongodb will post -2.27 EPS for the current year.

In related news, insider Eliot Horowitz sold 7,100 shares of the company’s stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $80.66, for a total transaction of $572,686.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Dev Ittycheria sold 63,600 shares of the company’s stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $84.11, for a total transaction of $5,349,396.00. The disclosure for this sale can be found here. Insiders have sold 973,904 shares of company stock worth $79,863,660 in the last three months. Insiders own 40.04% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Belpointe Asset Management LLC purchased a new position in shares of Mongodb during the third quarter valued at approximately $110,000. Vanguard Group Inc. lifted its stake in shares of Mongodb by 3.6% during the third quarter. Vanguard Group Inc. now owns 1,683,561 shares of the company’s stock valued at $137,294,000 after buying an additional 58,398 shares during the period. Morgan Stanley lifted its stake in shares of Mongodb by 1,628.8% during the third quarter. Morgan Stanley now owns 599,856 shares of the company’s stock valued at $48,918,000 after buying an additional 565,159 shares during the period. Rehmann Capital Advisory Group lifted its stake in shares of Mongodb by 134,989.1% during the third quarter. Rehmann Capital Advisory Group now owns 62,141 shares of the company’s stock valued at $762,000 after buying an additional 62,095 shares during the period. Finally, Griffin Asset Management Inc. purchased a new position in shares of Mongodb during the third quarter valued at approximately $468,000. 50.44% of the stock is currently owned by institutional investors and hedge funds.

Mongodb Company Profile

MongoDB, Inc operates as a general purpose database platform worldwide. The company offers MongoDB Enterprise Advanced, a subscription package for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; MongoDB Atlas, a cloud-hosted database-as-a-service solution; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.

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Analyst Recommendations for Mongodb (NASDAQ:MDB)

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