Rosenblatt Securities Reiterates Buy Rating for MongoDB (NASDAQ:MDB)

Rosenblatt Securities restated their buy rating on shares of MongoDB (NASDAQ:MDB) in a research report report published on Tuesday morning,Benzinga reports. The firm currently has a $350.00 target price on the stock.

A number of other equities analysts have also recently commented on the company. Macquarie started coverage on MongoDB in a report on Thursday, December 12th. They set a “neutral” rating and a $300.00 target price for the company. Loop Capital cut their price target on MongoDB from $400.00 to $350.00 and set a “buy” rating for the company in a report on Monday. Robert W. Baird increased their price target on MongoDB from $380.00 to $390.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Monness Crespi & Hardt raised MongoDB from a “sell” rating to a “neutral” rating in a report on Monday. Finally, Guggenheim raised MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 target price for the company in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, MongoDB currently has a consensus rating of “Moderate Buy” and an average target price of $361.83.

MongoDB Stock Down 1.8 %

Shares of MDB opened at $254.38 on Tuesday. The company has a market capitalization of $18.94 billion, a price-to-earnings ratio of -92.84 and a beta of 1.28. The stock’s 50-day moving average price is $263.28 and its 200-day moving average price is $275.36. MongoDB has a 52 week low of $212.74 and a 52 week high of $428.91.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.48. The company had revenue of $529.40 million for the quarter, compared to the consensus estimate of $497.39 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. MongoDB’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.96 earnings per share. As a group, equities analysts anticipate that MongoDB will post -1.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Dev Ittycheria sold 8,335 shares of MongoDB stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $267.48, for a total transaction of $2,229,445.80. Following the sale, the chief executive officer now owns 217,294 shares in the company, valued at approximately $58,121,799.12. The trade was a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Cedric Pech sold 287 shares of MongoDB stock in a transaction dated 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 in the company, valued at $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 47,314 shares of company stock valued at $12,525,863 in the last ninety days. Insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

Hedge funds and other institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC increased its position in MongoDB by 3.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the company’s stock valued at $295,000 after acquiring an additional 40 shares during the period. US Bancorp DE increased its position in MongoDB by 9.1% in the 3rd quarter. US Bancorp DE now owns 3,869 shares of the company’s stock valued at $1,046,000 after acquiring an additional 324 shares during the period. Janney Montgomery Scott LLC acquired a new position in MongoDB in the 3rd quarter valued at about $861,000. Principal Financial Group Inc. increased its position in MongoDB by 2.7% in the 3rd quarter. Principal Financial Group Inc. now owns 6,095 shares of the company’s stock valued at $1,648,000 after acquiring an additional 160 shares during the period. Finally, Atria Investments Inc increased its position in MongoDB by 6.6% in the 3rd quarter. Atria Investments Inc now owns 2,175 shares of the company’s stock valued at $588,000 after acquiring an additional 135 shares during the period. Institutional investors and hedge funds 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.