MongoDB, Inc. (NASDAQ:MDB) Given Average Rating of “Moderate Buy” by Brokerages

Shares of MongoDB, Inc. (NASDAQ:MDB) have been given a consensus rating of “Moderate Buy” by the thirty-three ratings firms that are currently covering the firm, Marketbeat reports. Eight investment analysts have rated the stock with a hold recommendation, twenty-four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $294.78.

Several equities research analysts recently weighed in on MDB shares. Piper Sandler reduced their price target on shares of MongoDB from $280.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Cantor Fitzgerald initiated coverage on shares of MongoDB in a research report on Wednesday, March 5th. They set an “overweight” rating and a $344.00 target price on the stock. The Goldman Sachs Group dropped their price target on MongoDB from $390.00 to $335.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Rosenblatt Securities restated a “buy” rating and set a $350.00 price objective on shares of MongoDB in a research report on Tuesday, March 4th. Finally, Truist Financial dropped their target price on MongoDB from $300.00 to $275.00 and set a “buy” rating for the company in a report on Monday, March 31st.

MongoDB Stock Up 0.1 %

MDB opened at $174.69 on Wednesday. The company has a market capitalization of $14.18 billion, a PE ratio of -63.76 and a beta of 1.49. The firm has a 50-day simple moving average of $190.43 and a two-hundred day simple moving average of $247.31. MongoDB has a 52 week low of $140.78 and a 52 week high of $387.19.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The firm had revenue of $548.40 million for the quarter, compared to the consensus estimate of $519.65 million. During the same period in the previous year, the company posted $0.86 earnings per share. As a group, sell-side analysts expect that MongoDB will post -1.78 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Cedric Pech sold 1,690 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total transaction of $292,809.40. Following the completion of the sale, the insider now directly owns 57,634 shares in the company, valued at $9,985,666.84. This represents a 2.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Dev Ittycheria sold 18,512 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total value of $3,207,389.12. Following the sale, the chief executive officer now directly owns 268,948 shares in the company, valued at approximately $46,597,930.48. The trade was a 6.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 39,345 shares of company stock valued at $8,485,310 over the last three months. 3.60% of the stock is owned by company insiders.

Institutional Trading of MongoDB

Several hedge funds have recently modified their holdings of MDB. OneDigital Investment Advisors LLC grew its position in shares of MongoDB by 3.9% in the 4th quarter. OneDigital Investment Advisors LLC now owns 1,044 shares of the company’s stock worth $243,000 after buying an additional 39 shares during the last quarter. Hilltop National Bank boosted its stake in MongoDB by 47.2% in the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock valued at $30,000 after acquiring an additional 42 shares in the last quarter. Avestar Capital LLC grew its holdings in MongoDB by 2.0% in the fourth quarter. Avestar Capital LLC now owns 2,165 shares of the company’s stock worth $504,000 after purchasing an additional 42 shares during the last quarter. Aigen Investment Management LP increased its position in shares of MongoDB by 1.4% during the fourth quarter. Aigen Investment Management LP now owns 3,921 shares of the company’s stock worth $913,000 after purchasing an additional 55 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its holdings in shares of MongoDB by 0.4% during the 1st quarter. Handelsbanken Fonder AB now owns 14,816 shares of the company’s stock valued at $2,599,000 after purchasing an additional 65 shares during the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

MongoDB Company Profile

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.