China Renaissance Begins Coverage on MongoDB (NASDAQ:MDB)

China Renaissance started coverage on shares of MongoDB (NASDAQ:MDB) in a research report sent to investors on Tuesday morning, Marketbeat reports. The brokerage issued a buy rating and a $351.00 price objective on the stock.

MDB has been the subject of a number of other reports. Stifel Nicolaus raised their price target on shares of MongoDB from $325.00 to $360.00 and gave the company a “buy” rating in a report on Monday, December 9th. JMP Securities reaffirmed a “market outperform” rating and set a $380.00 price target on shares of MongoDB in a report on Wednesday, December 11th. Scotiabank raised their price target on shares of MongoDB from $295.00 to $350.00 and gave the company a “sector perform” rating in a report on Tuesday, December 10th. Citigroup raised their price target on shares of MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a report on Monday, December 16th. Finally, Barclays decreased their price objective on shares of MongoDB from $400.00 to $330.00 and set an “overweight” rating for the company in a report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $361.00.

MongoDB Trading Up 1.9 %

Shares of MDB stock opened at $257.86 on Tuesday. The company’s fifty day simple moving average is $277.47 and its 200-day simple moving average is $269.11. MongoDB has a 52 week low of $212.74 and a 52 week high of $509.62. The company has a market cap of $19.20 billion, a PE ratio of -94.11 and a beta of 1.25.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.48. The business had revenue of $529.40 million during the quarter, compared to analyst estimates of $497.39 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business’s revenue was up 22.3% on a year-over-year basis. During the same period last year, the business earned $0.96 EPS. Equities research analysts expect that MongoDB will post -1.79 EPS for the current fiscal year.

Insider Activity

In other MongoDB news, Director Dwight A. Merriman sold 3,000 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $269.57, for a total transaction of $808,710.00. Following the completion of the transaction, the director now owns 1,127,006 shares of the company’s stock, valued at approximately $303,807,007.42. The trade was a 0.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael Lawrence Gordon sold 5,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $267.85, for a total value of $1,339,250.00. Following the transaction, the chief financial officer now directly owns 80,307 shares of the company’s stock, valued at approximately $21,510,229.95. The trade was a 5.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,821 shares of company stock valued at $6,831,215. 3.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Aigen Investment Management LP bought a new position in shares of MongoDB in the 3rd quarter worth $1,045,000. Geode Capital Management LLC increased its position in shares of MongoDB by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock valued at $331,776,000 after purchasing an additional 34,814 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of MongoDB during the 3rd quarter valued at $4,366,000. Charles Schwab Investment Management Inc. increased its position in shares of MongoDB by 2.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 278,419 shares of the company’s stock valued at $75,271,000 after purchasing an additional 7,575 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of MongoDB during the 2nd quarter valued at $1,860,000. Institutional investors and hedge funds 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.