MongoDB (NASDAQ:MDB) Earns Market Outperform Rating from JMP Securities

MongoDB (NASDAQ:MDB)‘s stock had its “market outperform” rating reaffirmed by research analysts at JMP Securities in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $380.00 price target on the stock. JMP Securities’ target price would indicate a potential upside of 31.67% from the company’s previous close.

A number of other research firms have also issued reports on MDB. Citigroup raised their target price on MongoDB from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Oppenheimer raised their price objective on MongoDB from $350.00 to $400.00 and gave the stock an “outperform” rating in a research report on Tuesday. Barclays raised their price objective on MongoDB from $375.00 to $400.00 and gave the stock an “overweight” rating in a research report on Tuesday. The Goldman Sachs Group raised their price objective on MongoDB from $340.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Bank of America raised their price objective on MongoDB from $300.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $370.08.

MongoDB Stock Performance

Shares of NASDAQ MDB opened at $288.61 on Wednesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.03 and a current ratio of 5.03. The firm has a market cap of $21.32 billion, a price-to-earnings ratio of -95.57 and a beta of 1.17. The business’s 50-day simple moving average is $293.13 and its 200-day simple moving average is $269.12. MongoDB has a 52 week low of $212.74 and a 52 week high of $509.62.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Monday, December 9th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.48. The business had revenue of $529.40 million for the quarter, compared to analyst estimates of $497.39 million. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. The firm’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.96 EPS. As a group, equities research analysts expect that MongoDB will post -2.37 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total transaction of $768,750.00. Following the completion of the sale, the director now directly owns 1,131,006 shares of the company’s stock, valued at $289,820,287.50. The trade was a 0.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Thomas Bull sold 1,000 shares of MongoDB stock in a transaction on Monday, December 9th. The stock was sold at an average price of $355.92, for a total value of $355,920.00. Following the sale, the chief accounting officer now directly owns 15,068 shares of the company’s stock, valued at approximately $5,363,002.56. This trade represents a 6.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,600 shares of company stock valued at $7,611,849. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

A number of institutional investors have recently made changes to their positions in MDB. Nisa Investment Advisors LLC grew its stake in MongoDB by 3.8% in the third quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the company’s stock valued at $295,000 after acquiring an additional 40 shares during the period. Taylor Frigon Capital Management LLC grew its stake in MongoDB by 0.4% in the second quarter. Taylor Frigon Capital Management LLC now owns 9,903 shares of the company’s stock valued at $2,475,000 after acquiring an additional 42 shares during the period. Tanager Wealth Management LLP grew its stake in MongoDB by 4.7% in the third quarter. Tanager Wealth Management LLP now owns 957 shares of the company’s stock valued at $259,000 after acquiring an additional 43 shares during the period. Fifth Third Bancorp grew its stake in MongoDB by 7.6% in the second quarter. Fifth Third Bancorp now owns 620 shares of the company’s stock valued at $155,000 after acquiring an additional 44 shares during the period. Finally, Rakuten Securities Inc. grew its stake in MongoDB by 16.5% in the third quarter. Rakuten Securities Inc. now owns 332 shares of the company’s stock valued at $90,000 after acquiring an additional 47 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

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.