MongoDB (NASDAQ:MDB) Shares Up 5.4% – Still a Buy?

MongoDB, Inc. (NASDAQ:MDB) was up 5.4% on Friday . The company traded as high as $337.56 and last traded at $332.36. Approximately 473,438 shares traded hands during trading, a decline of 67% from the average daily volume of 1,438,215 shares. The stock had previously closed at $315.44.

Analysts Set New Price Targets

MDB has been the subject of several research analyst reports. JMP Securities reiterated a “market outperform” rating and set a $380.00 target price on shares of MongoDB in a research note on Friday, August 30th. Mizuho upped their price objective on shares of MongoDB from $250.00 to $275.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Wells Fargo & Company raised their target price on shares of MongoDB from $300.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $350.00 price target on shares of MongoDB in a research note on Friday, August 30th. Finally, Bank of America raised their price objective on shares of MongoDB from $300.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, MongoDB has a consensus rating of “Moderate Buy” and a consensus price target of $336.54.

MongoDB Stock Performance

The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.03 and a current ratio of 5.03. The firm has a market cap of $24.61 billion, a P/E ratio of -110.05 and a beta of 1.15. The company’s 50 day moving average is $278.10 and its 200 day moving average is $272.88.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.21. The company had revenue of $478.11 million during the quarter, compared to analysts’ expectations of $465.03 million. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. MongoDB’s revenue was up 12.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.63) EPS. As a group, equities analysts predict that MongoDB, Inc. will post -2.39 earnings per share for the current fiscal year.

Insider Transactions at MongoDB

In other news, CRO Cedric Pech sold 302 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total value of $77,387.50. Following the sale, the executive now directly owns 33,440 shares of the company’s stock, valued at approximately $8,569,000. This represents a 0.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Thomas Bull sold 1,000 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $282.89, for a total transaction of $282,890.00. Following the sale, the chief accounting officer now directly owns 16,222 shares in the company, valued at $4,589,041.58. This trade represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,600 shares of company stock worth $7,034,249. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

A number of institutional investors and hedge funds have recently modified their holdings of MDB. Jennison Associates LLC raised its stake in MongoDB by 23.6% during the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock worth $838,632,000 after buying an additional 592,038 shares during the period. Geode Capital Management LLC raised its position 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 worth $331,776,000 after purchasing an additional 34,814 shares during the period. Swedbank AB lifted its holdings in shares of 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 purchasing an additional 400,705 shares in the last quarter. Westfield Capital Management Co. LP lifted its holdings in shares of MongoDB by 1.5% in the 3rd quarter. Westfield Capital Management Co. LP now owns 496,248 shares of the company’s stock worth $134,161,000 after purchasing an additional 7,526 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in MongoDB by 1,098.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock valued at $106,084,000 after purchasing an additional 388,979 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors.

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.