MongoDB (NASDAQ:MDB) Upgraded to Neutral at Redburn Atlantic

Redburn Atlantic upgraded shares of MongoDB (NASDAQ:MDB) from a sell rating to a neutral rating in a report released on Thursday morning, MarketBeat reports. They currently have $170.00 price objective on the stock.

MDB has been the subject of a number of other research reports. Cantor Fitzgerald assumed coverage on shares of MongoDB in a research report on Wednesday, March 5th. They set an “overweight” rating and a $344.00 target price for the company. Daiwa Capital Markets started coverage on MongoDB in a research report on Tuesday, April 1st. They issued an “outperform” rating and a $202.00 price objective on the stock. Tigress Financial upped their price target on MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Bank of America lowered their price objective on shares of MongoDB from $420.00 to $286.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Finally, Loop Capital decreased their target price on shares of MongoDB from $400.00 to $350.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Eight analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $299.78.

MongoDB Trading Down 0.5 %

Shares of NASDAQ:MDB opened at $159.26 on Thursday. MongoDB has a 12-month low of $140.78 and a 12-month high of $387.19. The stock’s 50-day moving average price is $210.69 and its two-hundred day moving average price is $253.11. The firm has a market cap of $12.93 billion, a price-to-earnings ratio of -58.12 and a beta of 1.49.

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

Insider Activity at MongoDB

In other news, CFO Srdjan Tanjga sold 525 shares of MongoDB stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total transaction of $90,961.50. Following the sale, the chief financial officer now owns 6,406 shares of the company’s stock, valued at approximately $1,109,903.56. The trade was a 7.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Cedric Pech sold 1,690 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total value of $292,809.40. Following the transaction, the insider now owns 57,634 shares of the company’s stock, valued at approximately $9,985,666.84. This represents a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,680 shares of company stock worth $11,084,027 in the last 90 days. 3.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. B.O.S.S. Retirement Advisors LLC bought a new stake in shares of MongoDB during the fourth quarter valued at about $606,000. Union Bancaire Privee UBP SA bought a new stake in shares of MongoDB during the 4th quarter worth about $3,515,000. HighTower Advisors LLC lifted its stake in shares of MongoDB by 2.0% in the 4th quarter. HighTower Advisors LLC now owns 18,773 shares of the company’s stock worth $4,371,000 after acquiring an additional 372 shares during the period. Nisa Investment Advisors LLC boosted its holdings 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 valued at $1,340,000 after acquiring an additional 4,665 shares in the last quarter. Finally, Covea Finance acquired a new position in shares of MongoDB during the fourth quarter valued at approximately $3,841,000. 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.