MongoDB (NASDAQ:MDB) Coverage Initiated at Cantor Fitzgerald

Equities researchers at Cantor Fitzgerald started coverage on shares of MongoDB (NASDAQ:MDB) in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports. The firm set an “overweight” rating and a $344.00 price target on the stock. Cantor Fitzgerald’s price target would suggest a potential upside of 38.73% from the stock’s previous close.

Several other analysts have also recently issued reports on the company. Rosenblatt Securities began coverage on MongoDB in a research report on Tuesday, December 17th. They set a “buy” rating and a $350.00 target price on the stock. DA Davidson lifted their target price on MongoDB from $340.00 to $405.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Wells Fargo & Company boosted their target price on shares of MongoDB from $350.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Macquarie initiated coverage on shares of MongoDB in a report on Thursday, December 12th. They issued a “neutral” rating and a $300.00 price target on the stock. Finally, Scotiabank boosted their price objective on shares of MongoDB from $295.00 to $350.00 and gave the stock a “sector perform” rating in a research note on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $363.93.

MongoDB Price Performance

NASDAQ:MDB opened at $247.96 on Friday. MongoDB has a 1-year low of $212.74 and a 1-year high of $509.62. The company has a 50-day moving average of $278.98 and a 200 day moving average of $269.17. The firm has a market cap of $18.47 billion, a PE ratio of -90.50 and a beta of 1.25.

MongoDB (NASDAQ:MDB) last announced its quarterly 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. The firm had revenue of $529.40 million during the quarter, compared to analysts’ expectations of $497.39 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The company’s revenue was up 22.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.96 EPS. Sell-side analysts anticipate that MongoDB will post -1.79 EPS for the current fiscal year.

Insider Buying and Selling

In other MongoDB news, CEO Dev Ittycheria sold 2,581 shares of MongoDB stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total value of $604,186.29. Following the completion of the transaction, the chief executive officer now owns 217,294 shares of the company’s stock, valued at approximately $50,866,352.46. The trade was a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Cedric Pech sold 287 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $67,183.83. Following the completion of the transaction, the insider now owns 24,390 shares of the company’s stock, valued at approximately $5,709,455.10. This trade represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,821 shares of company stock valued at $6,831,215 over the last 90 days. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

Several institutional investors and hedge funds have recently modified their holdings of the business. Hilltop National Bank grew its holdings 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 purchasing an additional 42 shares during the period. Quarry LP lifted its position in shares of MongoDB by 2,580.0% during the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock valued at $33,000 after buying an additional 129 shares in the last quarter. Brooklyn Investment Group acquired a new stake in MongoDB in the 3rd quarter valued at $36,000. Continuum Advisory LLC increased its holdings in MongoDB by 621.1% in the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock worth $40,000 after acquiring an additional 118 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in MongoDB by 178.8% during the third quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock worth $39,000 after acquiring an additional 93 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.

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.