MongoDB (NASDAQ:MDB) Earns Buy Rating from Analysts at China Renaissance

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

Several other research firms have also recently commented on MDB. Rosenblatt Securities initiated coverage on shares of MongoDB in a research note on Tuesday, December 17th. They issued a “buy” rating and a $350.00 target price for the company. Macquarie assumed coverage on shares of MongoDB in a research report on Thursday, December 12th. They issued a “neutral” rating and a $300.00 price objective for the company. Truist Financial reiterated a “buy” rating and set a $400.00 target price (up previously from $320.00) on shares of MongoDB in a research report on Tuesday, December 10th. Cantor Fitzgerald initiated coverage on MongoDB in a report on Friday, January 17th. They issued an “overweight” rating and a $344.00 price target for the company. Finally, Wells Fargo & Company upped their price objective on MongoDB from $350.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, MongoDB presently has a consensus rating of “Moderate Buy” and a consensus target price of $361.00.

MongoDB Stock Down 0.0 %

Shares of MDB stock opened at $260.62 on Tuesday. The stock’s 50-day moving average price is $275.99 and its 200 day moving average price is $268.99. The stock has a market capitalization of $19.41 billion, a PE ratio of -95.12 and a beta of 1.25. MongoDB has a 52-week low of $212.74 and a 52-week high of $509.62.

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

Insider Activity at MongoDB

In other MongoDB news, CEO Dev Ittycheria sold 8,335 shares of MongoDB stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $254.86, for a total value of $2,124,258.10. Following the completion of the sale, the chief executive officer now directly owns 217,294 shares of the company’s stock, valued at approximately $55,379,548.84. The trade was a 3.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dwight A. Merriman sold 1,000 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $265.00, for a total value of $265,000.00. Following the transaction, the director now directly owns 1,116,006 shares in the company, valued at approximately $295,741,590. This represents a 0.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,156 shares of company stock valued at $9,220,473 over the last quarter. Insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hilltop National Bank lifted its holdings in shares of MongoDB by 47.2% during the 4th quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after acquiring an additional 42 shares during the period. Quarry LP increased its position in MongoDB by 2,580.0% during the second quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after purchasing an additional 129 shares during the last quarter. Brooklyn Investment Group acquired a new position in MongoDB during the third quarter worth approximately $36,000. GAMMA Investing LLC raised its stake in MongoDB by 178.8% during the third quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock worth $39,000 after purchasing an additional 93 shares during the period. Finally, Continuum Advisory LLC boosted its holdings in shares of MongoDB by 621.1% in 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. Hedge funds and other 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.