MongoDB (NASDAQ:MDB) Upgraded at Cantor Fitzgerald

MongoDB (NASDAQ:MDB) was upgraded by equities researchers at Cantor Fitzgerald to a “strong-buy” rating in a report issued on Thursday, Marketbeat Ratings reports. The brokerage currently has a $344.00 target price on the stock. Cantor Fitzgerald’s target price indicates a potential upside of 35.91% from the company’s previous close.

MDB has been the topic of a number of other reports. Wedbush raised MongoDB to a “strong-buy” rating in a research report on Thursday, October 17th. Piper Sandler reiterated an “overweight” rating and issued a $425.00 price target on shares of MongoDB in a research report on Tuesday, December 10th. Monness Crespi & Hardt downgraded shares of MongoDB from a “neutral” rating to a “sell” rating and set a $220.00 price objective on the stock. in a research report on Monday, December 16th. Macquarie started coverage on shares of MongoDB in a report on Thursday, December 12th. They issued a “neutral” rating and a $300.00 target price for the company. Finally, Mizuho raised their price target on MongoDB from $275.00 to $320.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, MongoDB presently has a consensus rating of “Moderate Buy” and a consensus price target of $363.93.

MongoDB Stock Performance

Shares of NASDAQ MDB opened at $253.11 on Thursday. MongoDB has a 12-month low of $212.74 and a 12-month high of $509.62. The firm has a 50 day moving average of $278.24 and a 200 day moving average of $269.10.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Monday, December 9th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.68 by $0.48. The firm had revenue of $529.40 million during the quarter, compared to analyst estimates of $497.39 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. MongoDB’s revenue was up 22.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.96 EPS. Analysts anticipate that MongoDB will post -1.79 earnings per share for the current year.

Insider Transactions at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 1,045 shares of the company’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $242.67, for a total value of $253,590.15. Following the transaction, the director now owns 85,652 shares of the company’s stock, valued at $20,785,170.84. This represents a 1.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Cedric Pech sold 287 shares of MongoDB stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value of $67,183.83. Following the sale, the insider now owns 24,390 shares of the company’s stock, valued at approximately $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. In the last quarter, insiders sold 24,821 shares of company stock worth $6,831,215. 3.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MongoDB

A number of institutional investors have recently modified their holdings of the stock. Hilltop National Bank grew 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 worth $30,000 after buying an additional 42 shares in the last quarter. Quarry LP lifted its stake in MongoDB by 2,580.0% in the second quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after acquiring an additional 129 shares during the period. Brooklyn Investment Group bought a new position in MongoDB during the 3rd quarter worth about $36,000. Continuum Advisory LLC increased its position in MongoDB by 621.1% during the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after purchasing an additional 118 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of MongoDB by 178.8% in the 3rd quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock valued at $39,000 after purchasing an additional 93 shares in the last quarter. 89.29% of the stock is owned by hedge funds and other 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.