MongoDB (NASDAQ:MDB) Receives “Outperform” Rating from Royal Bank of Canada

MongoDB (NASDAQ:MDB)‘s stock had its “outperform” rating reissued by equities research analysts at Royal Bank of Canada in a research report issued on Friday, Benzinga reports. They currently have a $350.00 target price on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 24.44% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Wells Fargo & Company cut their price target on shares of MongoDB from $450.00 to $300.00 and set an “overweight” rating on the stock in a research report on Friday, May 31st. Tigress Financial lowered their target price on MongoDB from $500.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Barclays cut their price target on MongoDB from $458.00 to $290.00 and set an “overweight” rating on the stock in a report on Friday, May 31st. Bank of America upped their price objective on shares of MongoDB from $300.00 to $350.00 and gave the company a “buy” rating in a report on Friday. Finally, Loop Capital cut their target price on MongoDB from $415.00 to $315.00 and set a “buy” rating on the stock in a report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, MongoDB has a consensus rating of “Moderate Buy” and an average price target of $350.00.

MongoDB Trading Up 14.5 %

NASDAQ:MDB traded up $35.53 during mid-day trading on Friday, hitting $281.25. 2,727,983 shares of the company’s stock were exchanged, compared to its average volume of 1,488,436. MongoDB has a fifty-two week low of $212.74 and a fifty-two week high of $509.62. The company has a current ratio of 4.93, a quick ratio of 4.93 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $20.63 billion, a P/E ratio of -100.09 and a beta of 1.13. The company has a 50 day simple moving average of $246.96 and a 200-day simple moving average of $317.33.

MongoDB (NASDAQ:MDB) last announced its earnings results on Thursday, May 30th. The company reported ($0.80) EPS for the quarter, hitting the consensus estimate of ($0.80). MongoDB had a negative return on equity of 14.88% and a negative net margin of 11.50%. The firm had revenue of $450.56 million for the quarter, compared to the consensus estimate of $438.44 million. As a group, research analysts expect that MongoDB will post -2.67 earnings per share for the current year.

Insider Transactions at MongoDB

In other news, CRO Cedric Pech sold 273 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $265.29, for a total transaction of $72,424.17. Following the completion of the sale, the executive now owns 35,719 shares in the company, valued at approximately $9,475,893.51. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CRO Cedric Pech sold 273 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $265.29, for a total transaction of $72,424.17. Following the completion of the sale, the executive now owns 35,719 shares in the company, valued at approximately $9,475,893.51. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Dev Ittycheria sold 3,025 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $265.29, for a total transaction of $802,502.25. Following the sale, the chief executive officer now owns 223,048 shares of the company’s stock, valued at approximately $59,172,403.92. The disclosure for this sale can be found here. Insiders sold a total of 30,179 shares of company stock worth $7,368,989 in the last quarter. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MDB. Norges Bank bought a new position in MongoDB in the 4th quarter worth approximately $326,237,000. Jennison Associates LLC boosted its holdings in MongoDB by 14.3% in the 1st quarter. Jennison Associates LLC now owns 4,408,424 shares of the company’s stock worth $1,581,037,000 after buying an additional 551,567 shares during the period. Swedbank AB boosted its holdings in MongoDB by 156.3% in the 2nd quarter. Swedbank AB now owns 656,993 shares of the company’s stock worth $164,222,000 after buying an additional 400,705 shares during the period. Thrivent Financial for Lutherans boosted its holdings in MongoDB by 1,098.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock worth $106,084,000 after buying an additional 388,979 shares during the period. Finally, Axiom Investors LLC DE bought a new position in MongoDB in the 4th quarter worth approximately $153,990,000. 89.29% of the stock is owned by institutional investors.

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.