MongoDB (NASDAQ:MDB) Raised to Strong-Buy at Daiwa America

MongoDB (NASDAQ:MDB) was upgraded by research analysts at Daiwa America to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

MDB has been the topic of several other research reports. UBS Group set a $350.00 price objective on MongoDB in a report on Tuesday, March 4th. Wells Fargo & Company downgraded MongoDB from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $365.00 to $225.00 in a research report on Thursday, March 6th. Needham & Company LLC reduced their price target on MongoDB from $415.00 to $270.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. The Goldman Sachs Group cut their price target on shares of MongoDB from $390.00 to $335.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Finally, Truist Financial cut their price target on MongoDB from $300.00 to $275.00 and set a “buy” rating for the company in a report on Monday. Seven analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $312.84.

MongoDB Stock Performance

Shares of MDB opened at $180.19 on Tuesday. The business’s fifty day moving average price is $240.77 and its two-hundred day moving average price is $263.72. The firm has a market capitalization of $14.63 billion, a price-to-earnings ratio of -65.76 and a beta of 1.30. MongoDB has a 52 week low of $170.66 and a 52 week high of $387.19.

MongoDB (NASDAQ:MDB) last issued its earnings results on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.45). The business had revenue of $548.40 million for the quarter, compared to the consensus estimate of $519.65 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. During the same quarter in the previous year, the firm posted $0.86 EPS. As a group, research analysts forecast that MongoDB will post -1.78 EPS for the current year.

Insider Buying and Selling at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $270.63, for a total transaction of $811,890.00. Following the completion of the transaction, the director now owns 1,109,006 shares of the company’s stock, valued at $300,130,293.78. The trade was a 0.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Dev Ittycheria sold 8,335 shares of the business’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $254.86, for a total transaction of $2,124,258.10. Following the transaction, the chief executive officer now owns 217,294 shares of the company’s stock, valued at $55,379,548.84. This trade represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,857 shares of company stock worth $9,613,306 in the last quarter. 3.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MongoDB

Several hedge funds have recently added to or reduced their stakes in MDB. B.O.S.S. Retirement Advisors LLC bought a new stake in shares of MongoDB in the 4th quarter worth approximately $606,000. Geode Capital Management LLC boosted its stake in shares of MongoDB by 2.9% during the third quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock valued at $331,776,000 after purchasing an additional 34,814 shares during the period. Union Bancaire Privee UBP SA bought a new position in shares of MongoDB in the fourth quarter worth approximately $3,515,000. Nisa Investment Advisors LLC increased its stake in shares of MongoDB by 428.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,755 shares of the company’s stock worth $1,340,000 after buying an additional 4,665 shares during the period. Finally, HighTower Advisors LLC raised its holdings in MongoDB by 2.0% during the 4th quarter. HighTower Advisors LLC now owns 18,773 shares of the company’s stock valued at $4,371,000 after buying an additional 372 shares during the last quarter. Institutional investors own 89.29% of the company’s stock.

MongoDB Company Profile

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.