MongoDB (NASDAQ:MDB) Upgraded to “Outperform” at Mizuho

MongoDB (NASDAQ:MDB) was upgraded by equities research analysts at Mizuho from a “neutral” rating to an “outperform” rating in a report released on Monday, Marketbeat Ratings reports. The firm presently has a $325.00 price objective on the stock. Mizuho’s price target points to a potential upside of 24.44% from the company’s previous close.

Other analysts have also recently issued research reports about the company. Zacks Research cut MongoDB from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 2nd. Morgan Stanley boosted their price target on MongoDB from $400.00 to $440.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 2nd. Sanford C. Bernstein cut MongoDB from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 3rd. Macquarie Infrastructure lifted their target price on MongoDB from $305.00 to $385.00 and gave the company a “neutral” rating in a research note on Tuesday, December 2nd. Finally, Oppenheimer decreased their price target on shares of MongoDB from $425.00 to $375.00 and set an “outperform” rating for the company in a research report on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, MongoDB currently has an average rating of “Moderate Buy” and a consensus target price of $355.24.

MongoDB Stock Performance

NASDAQ:MDB opened at $261.16 on Monday. The firm has a 50-day simple moving average of $338.48 and a 200-day simple moving average of $352.41. MongoDB has a one year low of $140.78 and a one year high of $444.72. The firm has a market cap of $20.99 billion, a P/E ratio of -296.77 and a beta of 1.40.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Monday, March 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.18. The firm had revenue of $695.07 million for the quarter, compared to the consensus estimate of $669.40 million. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. The company’s quarterly revenue was up 26.8% on a year-over-year basis. During the same period last year, the firm earned $1.28 earnings per share. On average, research analysts predict that MongoDB will post -1.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Dwight A. Merriman sold 1,190 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $369.75, for a total transaction of $440,002.50. Following the sale, the director owned 80,462 shares in the company, valued at approximately $29,750,824.50. The trade was a 1.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 19,383 shares of company stock valued at $7,910,983 over the last three months. 3.10% of the stock is currently owned by company insiders.

Institutional Trading of MongoDB

A number of institutional investors have recently bought and sold shares of MDB. Central Pacific Bank Trust Division acquired a new position in MongoDB during the 4th quarter valued at approximately $28,000. Cornerstone Planning Group LLC lifted its stake in shares of MongoDB by 1,220.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 66 shares of the company’s stock worth $27,000 after buying an additional 61 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of MongoDB during the fourth quarter worth $33,000. Root Financial Partners LLC grew its holdings in shares of MongoDB by 58.2% during the fourth quarter. Root Financial Partners LLC now owns 87 shares of the company’s stock valued at $37,000 after buying an additional 32 shares during the last quarter. Finally, Global Trust Asset Management LLC acquired a new position in shares of MongoDB in the 4th quarter valued at $38,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

MongoDB Company Profile

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.