MongoDB, Inc. (NASDAQ:MDB) Given Consensus Rating of “Moderate Buy” by Analysts

MongoDB, Inc. (NASDAQ:MDB) has been assigned a consensus rating of “Moderate Buy” from the thirty-two analysts that are covering the firm, Marketbeat reports. Seven investment analysts have rated the stock with a hold recommendation, twenty-four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $312.84.

MDB has been the subject of several research reports. Wedbush cut their price target on MongoDB from $360.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Daiwa Capital Markets initiated coverage on shares of MongoDB in a research report on Tuesday. They issued an “outperform” rating and a $202.00 price target on the stock. Macquarie dropped their price target on shares of MongoDB from $300.00 to $215.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Piper Sandler reduced their price objective on shares of MongoDB from $425.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. Finally, Monness Crespi & Hardt raised MongoDB from a “sell” rating to a “neutral” rating in a report on Monday, March 3rd.

Insider Buying and Selling at MongoDB

In other news, CEO Dev Ittycheria sold 8,335 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $279.99, for a total transaction of $2,333,716.65. Following the completion of the sale, the chief executive officer now owns 217,294 shares of the company’s stock, valued at approximately $60,840,147.06. This represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dwight A. Merriman sold 1,045 shares of MongoDB stock in a transaction on Monday, January 13th. The stock was sold at an average price of $242.67, for a total transaction of $253,590.15. Following the completion of the transaction, the director now directly owns 85,652 shares in the company, valued at approximately $20,785,170.84. The trade was a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 58,060 shares of company stock worth $13,461,875 over the last ninety days. Insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

Several institutional investors have recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL bought a new position in shares of MongoDB during the fourth quarter valued at about $29,000. Hilltop National Bank increased its holdings in MongoDB by 47.2% during the 4th quarter. Hilltop National Bank now owns 131 shares of the company’s stock valued at $30,000 after purchasing an additional 42 shares during the period. Continuum Advisory LLC raised its position in MongoDB by 621.1% during the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after purchasing an additional 118 shares during the last quarter. NCP Inc. bought a new position in MongoDB during the 4th quarter valued at approximately $35,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of MongoDB in the 3rd quarter worth approximately $44,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

MongoDB Price Performance

Shares of MongoDB stock opened at $154.39 on Friday. The firm has a market cap of $12.53 billion, a PE ratio of -56.35 and a beta of 1.49. MongoDB has a 1 year low of $151.52 and a 1 year high of $387.19. The stock has a fifty day moving average price of $236.68 and a 200-day moving average price of $262.08.

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

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.