Rosenblatt Securities Initiates Coverage on MongoDB (NASDAQ:MDB)

Rosenblatt Securities assumed coverage on shares of MongoDB (NASDAQ:MDB) in a research report released on Tuesday morning, MarketBeat reports. The firm issued a buy rating and a $350.00 target price on the stock.

Other research analysts also recently issued reports about the stock. KeyCorp boosted their price objective on shares of MongoDB from $330.00 to $375.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Sanford C. Bernstein boosted their price target on MongoDB from $358.00 to $360.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Monness Crespi & Hardt lowered MongoDB from a “neutral” rating to a “sell” rating and set a $220.00 price objective on the stock. in a research note on Monday. Macquarie assumed coverage on MongoDB in a research note on Thursday, December 12th. They set a “neutral” rating and a $300.00 target price for the company. Finally, Bank of America raised their price target on shares of MongoDB from $300.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Two analysts have rated the stock with a sell rating, five have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $366.14.

MongoDB Stock Performance

MDB opened at $245.00 on Tuesday. MongoDB has a 52-week low of $212.74 and a 52-week high of $509.62. The firm has a market cap of $18.10 billion, a P/E ratio of -89.42 and a beta of 1.17. The business’s fifty day moving average is $291.99 and its 200-day moving average is $267.25.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data 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 firm had revenue of $529.40 million for the quarter, compared to the consensus estimate 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 for the quarter was up 22.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.96 earnings per share. On average, research analysts predict that MongoDB will post -2.29 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Michael Lawrence Gordon sold 5,000 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $290.31, for a total transaction of $1,451,550.00. Following the sale, the chief financial officer now owns 80,307 shares in the company, valued at $23,313,925.17. This represents a 5.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Hope F. Cochran sold 1,175 shares of MongoDB stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $266.99, for a total value of $313,713.25. Following the completion of the sale, the director now owns 17,570 shares of the company’s stock, valued at approximately $4,691,014.30. The trade was a 6.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,775 shares of company stock valued at $9,264,812. 3.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Quarry LP increased its holdings in shares of MongoDB by 2,580.0% during the second quarter. Quarry LP now owns 134 shares of the company’s stock valued at $33,000 after acquiring an additional 129 shares in the last quarter. Brooklyn Investment Group bought a new stake in MongoDB during the 3rd quarter valued at $36,000. Continuum Advisory LLC raised its holdings in MongoDB by 621.1% during the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock worth $40,000 after buying an additional 118 shares during the last quarter. Hantz Financial Services Inc. bought a new position in shares of MongoDB in the second quarter valued at $35,000. Finally, GAMMA Investing LLC increased its position in shares of MongoDB by 178.8% during the third quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock worth $39,000 after acquiring an additional 93 shares in the last quarter. 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.