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

MongoDB (NASDAQ:MDB) was upgraded by Guggenheim from a “neutral” rating to a “buy” rating in a note issued to investors on Monday, MarketBeat.com reports. The brokerage currently has a $300.00 price target on the stock. Guggenheim’s target price would suggest a potential upside of 21.97% from the stock’s current price.

MDB has been the topic of a number of other research reports. Macquarie started coverage on MongoDB in a research note on Thursday, December 12th. They issued a “neutral” rating and a $300.00 target price on the stock. Wells Fargo & Company raised their price target on shares of MongoDB from $350.00 to $425.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. KeyCorp boosted their price objective on shares of MongoDB from $330.00 to $375.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Stifel Nicolaus raised their target price on shares of MongoDB from $325.00 to $360.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Rosenblatt Securities assumed coverage on MongoDB in a report on Tuesday, December 17th. They issued a “buy” rating and a $350.00 price target for the company. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $367.14.

MongoDB Trading Down 2.7 %

MDB stock opened at $245.96 on Monday. The stock has a market cap of $18.32 billion, a PE ratio of -89.77 and a beta of 1.25. MongoDB has a 12 month low of $212.74 and a 12 month high of $509.62. The company has a 50-day moving average price of $284.11 and a 200 day moving average price of $269.17.

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

Insider Transactions at MongoDB

In other news, CFO Michael Lawrence Gordon sold 5,000 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $290.31, for a total value of $1,451,550.00. Following the completion of the transaction, the chief financial officer now directly owns 80,307 shares in the company, valued at $23,313,925.17. This trade represents a 5.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Cedric Pech sold 287 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total value of $67,183.83. Following the completion of the sale, the insider now owns 24,390 shares in the company, valued at approximately $5,709,455.10. This represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,161 shares of company stock worth $8,700,776. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

A number of institutional investors have recently bought and sold shares of the business. Jennison Associates LLC grew its holdings in MongoDB by 23.6% during the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock worth $838,632,000 after acquiring an additional 592,038 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of MongoDB by 1,098.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock worth $106,084,000 after purchasing an additional 388,979 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of MongoDB during the 2nd quarter valued at approximately $52,131,000. Avala Global LP acquired a new position in shares of MongoDB in the 3rd quarter valued at $47,960,000. Finally, Renaissance Technologies LLC boosted its holdings in MongoDB by 828.9% during the second quarter. Renaissance Technologies LLC now owns 183,000 shares of the company’s stock worth $45,743,000 after buying an additional 163,300 shares in the last quarter. 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.