MongoDB (NASDAQ:MDB) Given “Market Outperform” Rating at JMP Securities

MongoDB (NASDAQ:MDB)‘s stock had its “market outperform” rating reiterated by analysts at JMP Securities in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $380.00 target price on the stock. JMP Securities’ price target points to a potential upside of 31.67% from the company’s current price.

A number of other equities analysts also recently weighed in on MDB. Scotiabank boosted their price target on MongoDB from $295.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Stifel Nicolaus boosted their price target on MongoDB from $325.00 to $360.00 and gave the stock a “buy” rating in a research report on Monday. Canaccord Genuity Group boosted their price target on MongoDB from $325.00 to $385.00 and gave the stock a “buy” rating in a research report on Wednesday. Mizuho boosted their price target on MongoDB from $275.00 to $320.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, UBS Group boosted their price target on MongoDB from $250.00 to $275.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $370.08.

MongoDB Stock Performance

MDB opened at $288.61 on Wednesday. MongoDB has a 52-week low of $212.74 and a 52-week high of $509.62. The firm has a market capitalization of $21.32 billion, a PE ratio of -95.57 and a beta of 1.17. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.03 and a current ratio of 5.03. The business’s 50-day simple moving average is $293.13 and its 200 day simple moving average is $269.12.

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 the consensus estimate of $0.68 by $0.48. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. 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 prior year, the company posted $0.96 earnings per share. MongoDB’s revenue was up 22.3% on a year-over-year basis. As a group, sell-side analysts expect that MongoDB will post -2.37 earnings per share for the current fiscal year.

Insider Activity

In related news, CRO Cedric Pech sold 302 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total transaction of $77,387.50. Following the sale, the executive now owns 33,440 shares of the company’s stock, valued at $8,569,000. This trade represents a 0.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Dwight A. Merriman sold 3,000 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total value of $768,750.00. Following the sale, the director now directly owns 1,131,006 shares in the company, valued at approximately $289,820,287.50. This trade represents a 0.26 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,600 shares of company stock worth $7,611,849. Insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

Hedge funds have recently modified their holdings of the company. J.Safra Asset Management Corp lifted its holdings in MongoDB by 682.4% during the 2nd quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock worth $33,000 after buying an additional 116 shares during the period. Swedbank AB lifted its holdings in MongoDB by 156.3% during the 2nd quarter. Swedbank AB now owns 656,993 shares of the company’s stock worth $164,222,000 after buying an additional 400,705 shares during the period. LA Financiere DE L Echiquier acquired a new position in MongoDB during the 2nd quarter worth about $19,497,000. Blue Trust Inc. lifted its holdings in MongoDB by 26.6% during the 2nd quarter. Blue Trust Inc. now owns 538 shares of the company’s stock worth $134,000 after buying an additional 113 shares during the period. Finally, OFI Invest Asset Management lifted its holdings in MongoDB by 420.4% during the 2nd quarter. OFI Invest Asset Management now owns 510 shares of the company’s stock worth $119,000 after buying an additional 412 shares during the period. 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.