MongoDB (NASDAQ:MDB) Earns Buy Rating from Truist Financial

Truist Financial reaffirmed their buy rating on shares of MongoDB (NASDAQ:MDB) in a research report sent to investors on Monday morning, Benzinga reports. Truist Financial currently has a $430.00 price objective on the stock.

A number of other research firms also recently commented on MDB. Stifel Nicolaus upped their price objective on MongoDB from $420.00 to $450.00 and gave the stock a buy rating in a report on Friday, September 1st. Guggenheim upped their price objective on MongoDB from $220.00 to $250.00 and gave the stock a sell rating in a report on Friday, September 1st. Mizuho upped their price objective on MongoDB from $240.00 to $260.00 in a report on Friday, September 1st. Sanford C. Bernstein upped their price objective on MongoDB from $424.00 to $471.00 in a report on Sunday, September 3rd. Finally, Morgan Stanley increased their price target on MongoDB from $440.00 to $480.00 and gave the company an overweight rating in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $419.74.

MongoDB Stock Down 0.9 %

MDB opened at $389.07 on Monday. The business’s 50-day simple moving average is $353.86 and its 200-day simple moving average is $355.54. The company has a debt-to-equity ratio of 1.29, a quick ratio of 4.48 and a current ratio of 4.48. MongoDB has a one year low of $137.70 and a one year high of $439.00. The stock has a market capitalization of $27.76 billion, a P/E ratio of -112.45 and a beta of 1.16.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Thursday, August 31st. The company reported ($0.63) EPS for the quarter, topping the consensus estimate of ($0.70) by $0.07. MongoDB had a negative return on equity of 29.69% and a negative net margin of 16.21%. The business had revenue of $423.79 million for the quarter, compared to analyst estimates of $389.93 million. Analysts anticipate that MongoDB will post -2.17 EPS for the current year.

Insider Activity

In other news, Director Dwight A. Merriman sold 1,000 shares of MongoDB stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $395.01, for a total transaction of $395,010.00. Following the sale, the director now directly owns 535,896 shares in the company, valued at approximately $211,684,278.96. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other MongoDB news, CRO Cedric Pech sold 308 shares of the business’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $326.27, for a total value of $100,491.16. Following the transaction, the executive now directly owns 34,110 shares in the company, valued at $11,129,069.70. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Dwight A. Merriman sold 1,000 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $395.01, for a total transaction of $395,010.00. Following the completion of the transaction, the director now owns 535,896 shares in the company, valued at $211,684,278.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 289,484 shares of company stock worth $101,547,167. Corporate insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On MongoDB

A number of large investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its position in shares of MongoDB by 13.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,593,996 shares of the company’s stock worth $1,770,313,000 after purchasing an additional 897,911 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of MongoDB by 2.1% during the first quarter. Vanguard Group Inc. now owns 5,970,224 shares of the company’s stock worth $2,648,332,000 after buying an additional 121,201 shares during the last quarter. Jennison Associates LLC raised its stake in shares of MongoDB by 87.8% during the third quarter. Jennison Associates LLC now owns 3,733,964 shares of the company’s stock worth $1,291,429,000 after buying an additional 1,745,231 shares during the last quarter. State Street Corp raised its stake in shares of MongoDB by 1.8% during the first quarter. State Street Corp now owns 1,386,773 shares of the company’s stock worth $323,280,000 after buying an additional 24,595 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its stake in shares of MongoDB by 3,283,771.0% during the fourth quarter. 1832 Asset Management L.P. now owns 1,018,000 shares of the company’s stock worth $200,383,000 after buying an additional 1,017,969 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

MongoDB Company Profile

MongoDB, Inc provides general purpose database platform worldwide. The company offers 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-premise, 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.