MongoDB (NASDAQ:MDB) Trading Up 8.5% – Time to Buy?

MongoDB, Inc. (NASDAQ:MDB) shares were up 8.5% during mid-day trading on Tuesday . The stock traded as high as $197.17 and last traded at $195.62. Approximately 4,017,293 shares traded hands during trading, an increase of 140% from the average daily volume of 1,674,121 shares. The stock had previously closed at $180.32.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Wedbush cut their target price on shares of MongoDB from $360.00 to $300.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. UBS Group set a $350.00 target price on shares of MongoDB in a report on Tuesday, March 4th. Mizuho lifted their price target on MongoDB from $275.00 to $320.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Barclays decreased their price objective on MongoDB from $330.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. Finally, KeyCorp cut MongoDB from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $319.87.

MongoDB Trading Down 5.6 %

The firm’s fifty day moving average is $257.94 and its 200 day moving average is $272.48. The company has a market cap of $13.78 billion, a PE ratio of -67.55 and a beta of 1.30.

MongoDB (NASDAQ:MDB) last released its earnings results on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). The company had revenue of $548.40 million for the quarter, compared to analysts’ expectations of $519.65 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. During the same period in the prior year, the firm earned $0.86 EPS. As a group, sell-side analysts anticipate that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

Insider Buying and Selling at MongoDB

In related news, Director Dwight A. Merriman sold 3,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $270.63, for a total transaction of $811,890.00. Following the completion of the sale, the director now owns 1,109,006 shares of the company’s stock, valued at approximately $300,130,293.78. This represents a 0.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 in the company, valued at $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. Insiders sold 49,314 shares of company stock valued at $12,981,833 over the last quarter. 3.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MongoDB

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Strategic Investment Solutions Inc. IL acquired a new position in MongoDB during the fourth quarter worth $29,000. Hilltop National Bank boosted its position in shares of MongoDB by 47.2% during the 4th quarter. Hilltop National Bank now owns 131 shares of the company’s stock valued at $30,000 after acquiring an additional 42 shares during the last quarter. NCP Inc. purchased a new stake in shares of MongoDB in the fourth quarter valued at about $35,000. Brooklyn Investment Group acquired a new stake in MongoDB during the third quarter worth about $36,000. Finally, Continuum Advisory LLC raised its stake in MongoDB by 621.1% during the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock worth $40,000 after purchasing an additional 118 shares during the period. Institutional investors and hedge funds 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.