MongoDB (NASDAQ:MDB) Upgraded at Monness Crespi & Hardt

Monness Crespi & Hardt upgraded shares of MongoDB (NASDAQ:MDB) from a sell rating to a neutral rating in a research report released on Monday morning, MarketBeat.com reports.

Several other brokerages have also commented on MDB. Cantor Fitzgerald started coverage on shares of MongoDB in a report on Friday, January 17th. They issued an “overweight” rating and a $344.00 price objective on the stock. Morgan Stanley upped their target price on shares of MongoDB from $340.00 to $350.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Citigroup upped their target price on shares of MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. JMP Securities reaffirmed a “market outperform” rating and set a $380.00 target price on shares of MongoDB in a research note on Wednesday, December 11th. Finally, DA Davidson upped their target price on shares of MongoDB from $340.00 to $405.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $361.83.

MongoDB Stock Performance

Shares of MDB stock opened at $264.13 on Monday. The firm’s 50 day moving average price is $263.70 and its 200-day moving average price is $275.28. MongoDB has a one year low of $212.74 and a one year high of $424.00. The firm has a market cap of $19.67 billion, a P/E ratio of -96.40 and a beta of 1.30.

MongoDB (NASDAQ:MDB) last issued 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. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The firm had revenue of $529.40 million for the quarter, compared to analyst estimates of $497.39 million. During the same period in the prior year, the business posted $0.96 EPS. The business’s revenue for the quarter was up 22.3% compared to the same quarter last year. As a group, research analysts predict that MongoDB will post -1.78 EPS for the current fiscal year.

Insider Activity

In related news, insider Cedric Pech sold 287 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total transaction of $67,183.83. Following the completion of the sale, the insider now owns 24,390 shares in the company, valued at $5,709,455.10. This represents a 1.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Dev Ittycheria sold 2,581 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $604,186.29. Following the sale, the chief executive officer now owns 217,294 shares of the company’s stock, valued at approximately $50,866,352.46. This represents a 1.17 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,314 shares of company stock worth $13,337,753. Corporate insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

A number of large investors have recently bought and sold shares of the business. Strategic Investment Solutions Inc. IL acquired a new stake in shares of MongoDB in the 4th quarter worth $29,000. Hilltop National Bank lifted its stake in shares of MongoDB by 47.2% in the 4th quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after acquiring an additional 42 shares during the period. NCP Inc. acquired a new stake in shares of MongoDB in the 4th quarter worth $35,000. Brooklyn Investment Group acquired a new stake in shares of MongoDB in the 3rd quarter worth $36,000. Finally, Continuum Advisory LLC lifted its stake in shares of MongoDB by 621.1% in the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock worth $40,000 after acquiring an additional 118 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

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.