William Blair Reiterates “Outperform” Rating for MongoDB (NASDAQ:MDB)

Posted by on May 26th, 2022

MongoDB (NASDAQ:MDB – Get Rating)‘s stock had its “outperform” rating restated by investment analysts at William Blair in a research report issued to clients and investors on Tuesday, Zacks.com reports.

Several other research analysts have also commented on the company. Oppenheimer lowered their price target on MongoDB from $510.00 to $410.00 in a research report on Wednesday, March 9th. UBS Group upgraded MongoDB from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $345.00 to $450.00 in a research report on Friday, March 18th. Zacks Investment Research cut shares of MongoDB from a “hold” rating to a “sell” rating in a research report on Thursday, February 3rd. Stifel Nicolaus reduced their price objective on shares of MongoDB from $550.00 to $425.00 in a research note on Wednesday, March 9th. Finally, Royal Bank of Canada initiated coverage on shares of MongoDB in a research note on Tuesday, March 1st. They set an “outperform” rating and a $505.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $483.83.

MDB opened at $230.79 on Tuesday. The company’s 50-day simple moving average is $358.80 and its two-hundred day simple moving average is $415.12. MongoDB has a 52-week low of $217.82 and a 52-week high of $590.00. The company has a debt-to-equity ratio of 1.70, a quick ratio of 4.02 and a current ratio of 4.02. The stock has a market capitalization of $15.59 billion, a P/E ratio of -48.69 and a beta of 0.98.

MongoDB (NASDAQ:MDB – Get Rating) last issued its earnings results on Tuesday, March 8th. The company reported ($1.20) EPS for the quarter, topping analysts’ consensus estimates of ($1.25) by $0.05. MongoDB had a negative net margin of 35.12% and a negative return on equity of 66.70%. The business had revenue of $266.50 million for the quarter, compared to the consensus estimate of $243.42 million. During the same period in the prior year, the firm earned ($1.01) EPS. The company’s revenue for the quarter was up 55.8% compared to the same quarter last year. Research analysts forecast that MongoDB will post -5.48 EPS for the current fiscal year.

In other news, CEO Dev Ittycheria sold 35,000 shares of the firm’s stock in a transaction that occurred on Friday, March 4th. The stock was sold at an average price of $309.78, for a total value of $10,842,300.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Thomas Bull sold 2,500 shares of the firm’s stock in a transaction on Thursday, March 31st. The stock was sold at an average price of $444.14, for a total value of $1,110,350.00. Following the sale, the insider now directly owns 17,904 shares of the company’s stock, valued at approximately $7,951,882.56. The disclosure for this sale can be found here. Insiders have sold 124,475 shares of company stock valued at $43,717,816 over the last ninety days. 7.40% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Confluence Wealth Services Inc. purchased a new position in MongoDB in the 4th quarter valued at $25,000. Bank of New Hampshire acquired a new stake in MongoDB in the first quarter valued at $25,000. Quent Capital LLC acquired a new stake in MongoDB in the fourth quarter valued at $26,000. Arlington Partners LLC acquired a new stake in MongoDB in the fourth quarter valued at $30,000. Finally, HBC Financial Services PLLC raised its stake in shares of MongoDB by 3,233.3% during the 4th quarter. HBC Financial Services PLLC now owns 400 shares of the company’s stock worth $39,000 after buying an additional 388 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

About MongoDB (Get Rating)

MongoDB, Inc provides general purpose database platform worldwide. The company offers MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.

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