MongoDB, Inc. (NASDAQ:MDB) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of MongoDB, Inc. (NASDAQ:MDB) have been given an average rating of “Moderate Buy” by the twenty-nine ratings firms that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $366.14.

Several research analysts have recently issued reports on the company. Wedbush raised MongoDB to a “strong-buy” rating in a research note on Thursday, October 17th. The Goldman Sachs Group increased their target price on shares of MongoDB from $340.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Canaccord Genuity Group boosted their price target on shares of MongoDB from $325.00 to $385.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Rosenblatt Securities assumed coverage on shares of MongoDB in a report on Tuesday, December 17th. They issued a “buy” rating and a $350.00 price objective for the company. Finally, Loop Capital boosted their target price on MongoDB from $315.00 to $400.00 and gave the stock a “buy” rating in a report on Monday, December 2nd.

MongoDB Stock Performance

MongoDB stock opened at $233.91 on Thursday. The firm has a market capitalization of $17.42 billion, a P/E ratio of -85.37 and a beta of 1.17. The company has a 50-day simple moving average of $286.52 and a 200-day simple moving average of $268.46. MongoDB has a one year low of $212.74 and a one year high of $509.62.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.68 by $0.48. The company had revenue of $529.40 million for the quarter, compared to analyst estimates of $497.39 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. MongoDB’s revenue was up 22.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.96 earnings per share. As a group, sell-side analysts forecast that MongoDB will post -1.86 earnings per share for the current year.

Insider Buying and Selling

In other MongoDB news, Director Dwight A. Merriman sold 3,000 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $768,750.00. Following the transaction, the director now directly owns 1,131,006 shares of the company’s stock, valued at $289,820,287.50. This represents a 0.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Thomas Bull sold 154 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total value of $39,462.50. Following the completion of the sale, the chief accounting officer now directly owns 16,068 shares of the company’s stock, valued at approximately $4,117,425. The trade was a 0.95 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,775 shares of company stock valued at $9,264,812. Corporate insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

Institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its holdings in shares of MongoDB by 2.7% during the 3rd quarter. Principal Financial Group Inc. now owns 6,095 shares of the company’s stock valued at $1,648,000 after acquiring an additional 160 shares during the last quarter. Tidal Investments LLC boosted its position in MongoDB by 76.8% during the third quarter. Tidal Investments LLC now owns 7,859 shares of the company’s stock worth $2,125,000 after purchasing an additional 3,415 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in MongoDB during the third quarter worth approximately $44,000. Virtu Financial LLC grew its holdings in MongoDB by 351.2% during the third quarter. Virtu Financial LLC now owns 10,016 shares of the company’s stock valued at $2,708,000 after purchasing an additional 7,796 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky bought a new position in shares of MongoDB in the third quarter valued at approximately $5,840,000. 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.