MongoDB (NASDAQ:MDB) Raised to “Buy” at Wall Street Zen

MongoDB (NASDAQ:MDB) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Sunday.

Other analysts also recently issued reports about the company. Wedbush cut their target price on MongoDB from $440.00 to $380.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 3rd. KeyCorp restated a “sector weight” rating on shares of MongoDB in a research note on Tuesday, December 2nd. Citizens Jmp upped their price target on MongoDB from $435.00 to $475.00 and gave the company a “market outperform” rating in a report on Tuesday, December 2nd. UBS Group dropped their price objective on MongoDB from $440.00 to $275.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 3rd. Finally, Oppenheimer reduced their price objective on MongoDB from $425.00 to $375.00 and set an “outperform” rating for the company in a report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $354.18.

MongoDB Stock Performance

Shares of MongoDB stock opened at $266.95 on Friday. The company has a 50-day simple moving average of $351.00 and a two-hundred day simple moving average of $353.75. The stock has a market capitalization of $21.73 billion, a PE ratio of -303.35 and a beta of 1.40. MongoDB has a 52-week low of $140.78 and a 52-week high of $444.72.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings results on Monday, March 2nd. The company reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.18. The firm had revenue of $695.07 million for the quarter, compared to analysts’ expectations of $669.40 million. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. The business’s revenue for the quarter was up 26.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.28 earnings per share. As a group, equities research analysts forecast that MongoDB will post -1.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other MongoDB news, Director Hope F. Cochran sold 1,566 shares of the stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $421.85, for a total value of $660,617.10. Following the transaction, the director owned 25,659 shares of the company’s stock, valued at approximately $10,824,249.15. This represents a 5.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dwight A. Merriman sold 1,190 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $369.75, for a total value of $440,002.50. Following the completion of the transaction, the director directly owned 80,462 shares in the company, valued at $29,750,824.50. The trade was a 1.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 20,949 shares of company stock valued at $8,571,600. 3.10% of the stock is owned by company insiders.

Institutional Trading of MongoDB

Several large investors have recently added to or reduced their stakes in MDB. Integrated Wealth Concepts LLC raised its position in MongoDB by 31.6% in the first quarter. Integrated Wealth Concepts LLC now owns 1,363 shares of the company’s stock worth $239,000 after acquiring an additional 327 shares during the period. NewEdge Advisors LLC raised its stake in MongoDB by 55.0% during the 1st quarter. NewEdge Advisors LLC now owns 4,238 shares of the company’s stock worth $743,000 after acquiring an additional 1,504 shares during the period. Sivia Capital Partners LLC purchased a new position in MongoDB during the second quarter valued at approximately $329,000. Savant Capital LLC bought a new position in shares of MongoDB in the second quarter worth approximately $359,000. Finally, Prospera Financial Services Inc boosted its position in shares of MongoDB by 10.6% in the second quarter. Prospera Financial Services Inc now owns 1,666 shares of the company’s stock worth $350,000 after purchasing an additional 159 shares during the period. 89.29% of the stock is currently owned by institutional investors.

MongoDB Company Profile

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.