MongoDB (NASDAQ:MDB) Receives Buy Rating from Rosenblatt Securities

MongoDB (NASDAQ:MDB)‘s stock had its “buy” rating reissued by equities research analysts at Rosenblatt Securities in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $350.00 price target on the stock. Rosenblatt Securities’ target price suggests a potential upside of 35.12% from the company’s previous close.

Other analysts have also issued reports about the company. The Goldman Sachs Group increased their target price on MongoDB from $340.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. JMP Securities reissued a “market outperform” rating and issued a $380.00 target price on shares of MongoDB in a report on Wednesday, December 11th. China Renaissance assumed coverage on shares of MongoDB in a report on Tuesday, January 21st. They set a “buy” rating and a $351.00 price target for the company. Stifel Nicolaus lifted their price objective on shares of MongoDB from $325.00 to $360.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Piper Sandler restated an “overweight” rating and set a $425.00 target price on shares of MongoDB in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $359.33.

MongoDB Stock Performance

MDB stock opened at $259.02 on Tuesday. MongoDB has a 52 week low of $212.74 and a 52 week high of $443.09. The company has a market capitalization of $19.29 billion, a PE ratio of -94.53 and a beta of 1.28. The company’s 50-day simple moving average is $263.05 and its 200 day simple moving average is $275.34.

MongoDB (NASDAQ:MDB) last announced its earnings results on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.48. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The firm had revenue of $529.40 million for the quarter, compared to analyst estimates of $497.39 million. During the same quarter in the prior year, the business posted $0.96 EPS. The business’s revenue was up 22.3% compared to the same quarter last year. On average, analysts forecast that MongoDB will post -1.78 EPS for the current year.

Insider Buying and Selling

In other MongoDB news, CAO Thomas Bull sold 1,000 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $355.92, for a total transaction of $355,920.00. Following the completion of the transaction, the chief accounting officer now owns 15,068 shares in the company, valued at $5,363,002.56. This trade represents a 6.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Cedric Pech sold 287 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $67,183.83. Following the completion of the transaction, the insider now directly owns 24,390 shares of the company’s stock, valued at approximately $5,709,455.10. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,314 shares of company stock worth $12,525,863. 3.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On MongoDB

Several institutional investors have recently made changes to their positions in MDB. Norges Bank bought a new stake in shares of MongoDB during the 4th quarter valued at $189,584,000. Jennison Associates LLC grew its holdings in MongoDB by 23.6% during the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock valued at $838,632,000 after buying an additional 592,038 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of MongoDB during the fourth quarter valued at about $110,356,000. Raymond James Financial Inc. purchased a new stake in shares of MongoDB in the fourth quarter worth about $90,478,000. Finally, D1 Capital Partners L.P. bought a new position in shares of MongoDB in the fourth quarter valued at approximately $76,129,000. Hedge funds and other 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.