Cantor Fitzgerald Begins Coverage on MongoDB (NASDAQ:MDB)

Stock analysts at Cantor Fitzgerald assumed coverage on shares of MongoDB (NASDAQ:MDB) in a note issued to investors on Friday,Briefing.com Automated Import reports. The firm set an “overweight” rating and a $344.00 price target on the stock. Cantor Fitzgerald’s price objective suggests a potential upside of 38.73% from the company’s previous close.

MDB has been the topic of a number of other reports. Piper Sandler reissued an “overweight” rating and issued a $425.00 target price on shares of MongoDB in a research note on Tuesday, December 10th. Loop Capital boosted their price objective on MongoDB from $315.00 to $400.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Canaccord Genuity Group upped their target price on MongoDB from $325.00 to $385.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Stifel Nicolaus lifted their price target on MongoDB from $325.00 to $360.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Macquarie started coverage on shares of MongoDB in a report on Thursday, December 12th. They issued a “neutral” rating and a $300.00 price objective for the company. Two analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $363.93.

MongoDB Price Performance

Shares of NASDAQ:MDB opened at $247.96 on Friday. The business’s 50 day moving average price is $278.98 and its 200-day moving average price is $269.17. MongoDB has a 1 year low of $212.74 and a 1 year high of $509.62. The firm has a market capitalization of $18.47 billion, a PE ratio of -90.50 and a beta of 1.25.

MongoDB (NASDAQ:MDB) last released its earnings results on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, topping 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 company’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.96 earnings per share. As a group, analysts expect that MongoDB will post -1.79 earnings per share for the current year.

Insider Activity

In related news, insider Cedric Pech sold 287 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total transaction of $67,183.83. Following the sale, the insider now directly owns 24,390 shares in the company, valued at approximately $5,709,455.10. This represents a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Thomas Bull sold 169 shares of MongoDB stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $39,561.21. Following the completion of the transaction, the chief accounting officer now owns 14,899 shares of the company’s stock, valued at $3,487,706.91. This represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,821 shares of company stock worth $6,831,215. Corporate insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

A number of large investors have recently modified their holdings of MDB. Sanders Morris Harris LLC purchased a new position in MongoDB in the fourth quarter valued at $2,794,000. Covea Finance acquired a new position in shares of MongoDB during the 4th quarter worth about $3,841,000. Park Avenue Securities LLC increased its holdings in shares of MongoDB by 24.3% in the 4th quarter. Park Avenue Securities LLC now owns 1,723 shares of the company’s stock valued at $401,000 after acquiring an additional 337 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of MongoDB by 11,057.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 296,889 shares of the company’s stock worth $69,119,000 after acquiring an additional 294,228 shares in the last quarter. Finally, Tealwood Asset Management Inc. purchased a new stake in MongoDB during the fourth quarter worth approximately $243,000. 89.29% of the stock is owned by hedge funds and other institutional investors.

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.