MongoDB (NASDAQ:MDB) Research Coverage Started at China Renaissance

China Renaissance assumed coverage on shares of MongoDB (NASDAQ:MDB) in a research report sent to investors on Tuesday, Marketbeat reports. The brokerage issued a buy rating and a $351.00 target price on the stock.

Other research analysts also recently issued research reports about the stock. Needham & Company LLC upped their price objective on shares of MongoDB from $335.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Mizuho upped their price target on MongoDB from $275.00 to $320.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. DA Davidson increased their price target on MongoDB from $340.00 to $405.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Barclays cut their price objective on MongoDB from $400.00 to $330.00 and set an “overweight” rating for the company in a research report on Friday, January 10th. Finally, Wells Fargo & Company increased their target price on MongoDB from $350.00 to $425.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $361.00.

MongoDB Stock Down 0.0 %

Shares of NASDAQ:MDB opened at $260.62 on Tuesday. MongoDB has a 52-week low of $212.74 and a 52-week high of $509.62. The stock has a market cap of $19.41 billion, a price-to-earnings ratio of -95.12 and a beta of 1.25. The business has a 50-day moving average price of $275.99 and a 200-day moving average price of $268.99.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.48. The firm had revenue of $529.40 million for the quarter, compared to analyst estimates of $497.39 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.96 earnings per share. As a group, equities analysts anticipate that MongoDB will post -1.79 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Dwight A. Merriman sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $265.00, for a total transaction of $265,000.00. Following the sale, the director now directly owns 1,116,006 shares in the company, valued at approximately $295,741,590. This represents a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Dev Ittycheria sold 8,335 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $254.86, for a total transaction of $2,124,258.10. Following the transaction, the chief executive officer now owns 217,294 shares of the company’s stock, valued at $55,379,548.84. This trade represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,156 shares of company stock worth $9,220,473 in the last ninety days. 3.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MongoDB

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hilltop National Bank increased its position in shares of MongoDB by 47.2% during the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after purchasing an additional 42 shares in the last quarter. Quarry LP grew its stake in MongoDB by 2,580.0% during the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after buying an additional 129 shares during the last quarter. Brooklyn Investment Group acquired a new position in MongoDB during the third quarter worth approximately $36,000. GAMMA Investing LLC lifted its stake in MongoDB by 178.8% in the third quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock valued at $39,000 after buying an additional 93 shares during the last quarter. Finally, Continuum Advisory LLC boosted its holdings in shares of MongoDB by 621.1% in the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after acquiring an additional 118 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

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.