MongoDB’s (MDB) “Neutral” Rating Reiterated at Macquarie

Macquarie restated their neutral rating on shares of MongoDB (NASDAQ:MDB) in a research note published on Friday, MarketBeat.com reports. Macquarie currently has a $230.00 price objective on the stock, up from their prior price objective of $215.00.

Several other research firms have also issued reports on MDB. Stifel Nicolaus lowered their price target on MongoDB from $340.00 to $275.00 and set a “buy” rating for the company in a research report on Friday, April 11th. UBS Group lifted their target price on shares of MongoDB from $213.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday. Cantor Fitzgerald increased their price target on shares of MongoDB from $252.00 to $271.00 and gave the company an “overweight” rating in a report on Thursday. DA Davidson restated a “buy” rating and issued a $275.00 price objective on shares of MongoDB in a report on Thursday. Finally, Oppenheimer lowered their price objective on MongoDB from $400.00 to $330.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Eight equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $282.47.

MongoDB Stock Down 2.3%

MDB opened at $220.14 on Friday. MongoDB has a 52 week low of $140.78 and a 52 week high of $370.00. The stock has a market cap of $17.87 billion, a PE ratio of -80.34 and a beta of 1.39. The business has a 50 day moving average of $176.52 and a 200-day moving average of $228.97.

MongoDB (NASDAQ:MDB) last announced its earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.35. The business had revenue of $549.01 million during the quarter, compared to the consensus estimate of $527.49 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.51 earnings per share. Equities analysts anticipate that MongoDB will post -1.78 EPS for the current year.

Insider Buying and Selling

In related news, CEO Dev Ittycheria sold 18,512 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total transaction of $3,207,389.12. Following the sale, the chief executive officer now owns 268,948 shares of the company’s stock, valued at $46,597,930.48. This represents a 6.44% 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 link. Also, CAO Thomas Bull sold 301 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $173.25, for a total transaction of $52,148.25. Following the transaction, the chief accounting officer now owns 14,598 shares of the company’s stock, valued at $2,529,103.50. This trade represents a 2.02% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,203 shares of company stock worth $3,848,569. 3.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MDB. Jericho Capital Asset Management L.P. purchased a new stake in MongoDB during the first quarter valued at approximately $161,543,000. Norges Bank bought a new stake in MongoDB in the fourth quarter worth $189,584,000. Primecap Management Co. CA boosted its stake in MongoDB by 863.5% during the first quarter. Primecap Management Co. CA now owns 870,550 shares of the company’s stock worth $152,694,000 after buying an additional 780,200 shares during the period. Westfield Capital Management Co. LP bought a new position in MongoDB during the first quarter valued at $128,706,000. Finally, Vanguard Group Inc. raised its stake in shares of MongoDB by 6.6% in the first quarter. Vanguard Group Inc. now owns 7,809,768 shares of the company’s stock valued at $1,369,833,000 after acquiring an additional 481,023 shares during the period. Institutional investors own 89.29% of the company’s stock.

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.