MongoDB (NASDAQ:MDB) Upgraded to “Buy” at Guggenheim

Guggenheim upgraded shares of MongoDB (NASDAQ:MDB) from a neutral rating to a buy rating in a research report sent to investors on Monday, Marketbeat Ratings reports. They currently have $300.00 target price on the stock.

A number of other equities analysts have also issued reports on MDB. Canaccord Genuity Group raised their target price on MongoDB from $325.00 to $385.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Morgan Stanley raised their price objective on MongoDB from $340.00 to $350.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Rosenblatt Securities started coverage on shares of MongoDB in a report on Tuesday, December 17th. They issued a “buy” rating and a $350.00 price target on the stock. Barclays raised their price target on shares of MongoDB from $375.00 to $400.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Finally, DA Davidson upped their price objective on shares of MongoDB from $340.00 to $405.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, four have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $367.14.

MongoDB Stock Performance

MongoDB stock opened at $248.68 on Monday. MongoDB has a one year low of $212.74 and a one year high of $509.62. The stock has a market cap of $18.52 billion, a PE ratio of -90.76 and a beta of 1.25. The stock has a 50-day moving average of $283.52 and a two-hundred day moving average of $269.30.

MongoDB (NASDAQ:MDB) last released its earnings results on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.48. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The company had revenue of $529.40 million for the quarter, compared to the consensus estimate of $497.39 million. During the same quarter in the previous year, the firm earned $0.96 EPS. MongoDB’s revenue was up 22.3% compared to the same quarter last year. As a group, sell-side analysts predict that MongoDB will post -1.86 EPS for the current fiscal year.

Insider Activity

In other news, Director Dwight A. Merriman sold 1,385 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $287.82, for a total value of $398,630.70. Following the transaction, the director now owns 89,063 shares in the company, valued at $25,634,112.66. This trade represents a 1.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Cedric Pech sold 287 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value of $67,183.83. Following the sale, the insider now owns 24,390 shares of the company’s stock, valued at $5,709,455.10. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,161 shares of company stock worth $8,427,806 over the last 90 days. 3.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MongoDB

Hedge funds and other institutional investors have recently modified their holdings of the business. Aigen Investment Management LP acquired a new stake in MongoDB in the 3rd quarter valued at about $1,045,000. Geode Capital Management LLC lifted its position in MongoDB by 2.9% during the third quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock worth $331,776,000 after buying an additional 34,814 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in MongoDB during the third quarter worth $4,366,000. Charles Schwab Investment Management Inc. grew its holdings in MongoDB by 2.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 278,419 shares of the company’s stock valued at $75,271,000 after buying an additional 7,575 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in shares of MongoDB in the 2nd quarter worth $1,860,000. 89.29% of the stock is owned by hedge funds and other institutional investors.

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.