MongoDB (NASDAQ:MDB) Coverage Initiated at Loop Capital

Equities researchers at Loop Capital began coverage on shares of MongoDB (NASDAQ:MDB) in a research report issued on Tuesday, Marketbeat reports. The brokerage set a “buy” rating and a $415.00 price target on the stock. Loop Capital’s target price indicates a potential upside of 12.38% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Needham & Company LLC reiterated a “buy” rating and issued a $465.00 target price on shares of MongoDB in a research note on Tuesday, April 9th. KeyCorp dropped their price objective on shares of MongoDB from $490.00 to $440.00 and set an “overweight” rating for the company in a research report on Thursday, April 18th. Citigroup boosted their price objective on shares of MongoDB from $515.00 to $550.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. UBS Group reiterated a “neutral” rating and set a $410.00 target price (down previously from $475.00) on shares of MongoDB in a research report on Thursday, January 4th. Finally, Truist Financial upped their target price on shares of MongoDB from $440.00 to $500.00 and gave the company a “buy” rating in a research report on Tuesday, February 20th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $443.86.

MongoDB Trading Up 0.8 %

Shares of NASDAQ:MDB opened at $369.29 on Tuesday. The company has a market cap of $26.90 billion, a P/E ratio of -148.91 and a beta of 1.19. The stock’s 50-day moving average is $383.39 and its 200-day moving average is $390.67. MongoDB has a 52-week low of $212.52 and a 52-week high of $509.62. The company has a debt-to-equity ratio of 1.07, a quick ratio of 4.40 and a current ratio of 4.40.

MongoDB (NASDAQ:MDB) last released its earnings results on Thursday, March 7th. The company reported ($1.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.32). MongoDB had a negative return on equity of 16.22% and a negative net margin of 10.49%. The firm had revenue of $458.00 million for the quarter, compared to analyst estimates of $431.99 million. Equities research analysts predict that MongoDB will post -2.53 earnings per share for the current year.

Insider Activity

In other news, CFO Michael Lawrence Gordon sold 10,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $469.84, for a total transaction of $4,698,400.00. Following the completion of the transaction, the chief financial officer now directly owns 70,985 shares of the company’s stock, valued at approximately $33,351,592.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Dev Ittycheria sold 33,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $405.77, for a total transaction of $13,390,410.00. Following the sale, the chief executive officer now owns 198,166 shares in the company, valued at approximately $80,409,817.82. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Michael Lawrence Gordon sold 10,000 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $469.84, for a total transaction of $4,698,400.00. Following the sale, the chief financial officer now owns 70,985 shares in the company, valued at approximately $33,351,592.40. The disclosure for this sale can be found here. Insiders sold 91,802 shares of company stock valued at $35,936,911 in the last three months. Company insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On MongoDB

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in MongoDB by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 6,842,413 shares of the company’s stock valued at $2,797,521,000 after acquiring an additional 194,148 shares during the period. Jennison Associates LLC lifted its position in MongoDB by 3.3% during the 4th quarter. Jennison Associates LLC now owns 3,856,857 shares of the company’s stock valued at $1,576,876,000 after acquiring an additional 122,893 shares during the period. Norges Bank purchased a new position in MongoDB in the fourth quarter worth about $326,237,000. First Trust Advisors LP raised its holdings in MongoDB by 59.3% in the fourth quarter. First Trust Advisors LP now owns 549,052 shares of the company’s stock worth $224,480,000 after buying an additional 204,284 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in MongoDB by 5.5% in the third quarter. Northern Trust Corp now owns 448,035 shares of the company’s stock worth $154,957,000 after buying an additional 23,270 shares during the last quarter. 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.