Daiwa Capital Markets Begins Coverage on MongoDB (NASDAQ:MDB)

Stock analysts at Daiwa Capital Markets assumed coverage on shares of MongoDB (NASDAQ:MDB) in a note issued to investors on Tuesday. The brokerage set an “outperform” rating and a $202.00 price target on the stock. Daiwa Capital Markets’ price target indicates a potential upside of 15.90% from the stock’s current price.

MDB has been the subject of a number of other research reports. Citigroup reduced their price objective on MongoDB from $430.00 to $330.00 and set a “buy” rating for the company in a research note on Tuesday. Barclays reduced their price target on shares of MongoDB from $330.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Canaccord Genuity Group lowered their price objective on shares of MongoDB from $385.00 to $320.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $350.00 target price on shares of MongoDB in a report on Tuesday, March 4th. Finally, JMP Securities reissued a “market outperform” rating and set a $380.00 price target on shares of MongoDB in a report on Wednesday, December 11th. Seven investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, MongoDB has an average rating of “Moderate Buy” and an average target price of $312.84.

MongoDB Price Performance

Shares of MongoDB stock traded down $1.11 during trading on Tuesday, hitting $174.29. 91,224 shares of the stock were exchanged, compared to its average volume of 1,731,001. The stock has a market cap of $14.15 billion, a price-to-earnings ratio of -63.22 and a beta of 1.30. The firm’s 50-day moving average price is $244.01 and its 200 day moving average price is $265.11. MongoDB has a 12-month low of $170.85 and a 12-month high of $387.19.

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

Insiders Place Their Bets

In related news, insider Cedric Pech sold 287 shares of the business’s stock in a transaction dated 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 approximately $5,709,455.10. The trade was a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Dev Ittycheria sold 8,335 shares of the firm’s 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 sale, the chief executive officer now owns 217,294 shares of the company’s stock, valued at approximately $55,379,548.84. This trade represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,139 shares of company stock worth $11,328,869 over the last ninety days. 3.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On MongoDB

Institutional investors and hedge funds have recently made changes to their positions in the business. Strategic Investment Solutions Inc. IL bought a new position in MongoDB during the 4th quarter valued at $29,000. Hilltop National Bank raised 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 purchasing an additional 42 shares during the period. NCP Inc. bought a new stake in shares of MongoDB in the 4th quarter worth approximately $35,000. Continuum Advisory LLC grew its stake in MongoDB by 621.1% during the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock worth $40,000 after buying an additional 118 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of MongoDB by 1,100.0% during the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock valued at $42,000 after acquiring an additional 165 shares during the period. 89.29% of the stock is currently owned by hedge funds and other 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.