MongoDB, Inc. (NASDAQ:MDB) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of MongoDB, Inc. (NASDAQ:MDB) have received an average rating of “Moderate Buy” from the thirty-one analysts that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and twenty-three have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $319.87.

Several equities analysts have issued reports on MDB shares. Cantor Fitzgerald started coverage on shares of MongoDB in a research report on Wednesday, March 5th. They issued an “overweight” rating and a $344.00 price target for the company. Monness Crespi & Hardt raised MongoDB from a “sell” rating to a “neutral” rating in a research report on Monday, March 3rd. China Renaissance initiated coverage on MongoDB in a report on Tuesday, January 21st. They set a “buy” rating and a $351.00 target price on the stock. Oppenheimer decreased their price target on MongoDB from $400.00 to $330.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Finally, Robert W. Baird cut their price objective on MongoDB from $390.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th.

Insider Buying and Selling at MongoDB

In other news, insider Cedric Pech sold 287 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 24,390 shares in the company, valued at $5,709,455.10. This trade represents a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dev Ittycheria sold 8,335 shares of MongoDB stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $254.86, for a total value of $2,124,258.10. Following the transaction, the chief executive officer now directly owns 217,294 shares in the company, valued at approximately $55,379,548.84. The trade was a 3.69 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,139 shares of company stock valued at $11,328,869. Corporate insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

A number of hedge funds and other institutional investors have recently modified their holdings of MDB. Lansforsakringar Fondforvaltning AB publ bought a new stake in MongoDB during the fourth quarter worth $5,769,000. Centaurus Financial Inc. increased its position in shares of MongoDB by 19.0% during the 4th quarter. Centaurus Financial Inc. now owns 2,499 shares of the company’s stock valued at $582,000 after purchasing an additional 399 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of MongoDB during the 4th quarter worth $13,270,000. Azzad Asset Management Inc. ADV boosted its holdings in shares of MongoDB by 17.7% in the 4th quarter. Azzad Asset Management Inc. ADV now owns 7,519 shares of the company’s stock worth $1,750,000 after buying an additional 1,132 shares during the last quarter. Finally, Infinitum Asset Management LLC bought a new position in MongoDB during the fourth quarter valued at about $8,148,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

MongoDB Stock Up 4.1 %

NASDAQ MDB opened at $193.05 on Tuesday. The company has a market cap of $14.38 billion, a price-to-earnings ratio of -70.46 and a beta of 1.30. MongoDB has a twelve month low of $173.13 and a twelve month high of $387.19. The business’s fifty day moving average is $255.53 and its 200 day moving average is $272.18.

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

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.