MongoDB (NASDAQ:MDB) Given "Market Outperform" Rating at JMP Securities

MongoDB (NASDAQ:MDB - Get Free Report)'s stock had its "market outperform" rating reaffirmed by investment analysts at JMP Securities in a report released on Thursday,Benzinga reports. They presently have a $345.00 price target on the stock. JMP Securities' price objective points to a potential upside of 53.07% from the stock's current price.

MDB has been the subject of several other research reports. Daiwa America raised shares of MongoDB to a "strong-buy" rating in a research report on Tuesday, April 1st. KeyCorp lowered MongoDB from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. Rosenblatt Securities decreased their target price on MongoDB from $305.00 to $290.00 and set a "buy" rating for the company in a report on Thursday. Monness Crespi & Hardt upgraded MongoDB from a "neutral" rating to a "buy" rating and set a $295.00 target price for the company in a report on Thursday. Finally, Morgan Stanley lowered their price objective on MongoDB from $315.00 to $235.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Eight analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $282.00.

MongoDB Stock Performance

Shares of MDB traded up $25.65 during midday trading on Thursday, hitting $225.38. 13,169,003 shares of the stock were exchanged, compared to its average volume of 1,945,019. The stock has a fifty day simple moving average of $175.65 and a 200 day simple moving average of $230.40. MongoDB has a 52-week low of $140.78 and a 52-week high of $370.00. The firm has a market cap of $18.30 billion, a P/E ratio of -82.26 and a beta of 1.40.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its earnings results on Wednesday, June 4th. The company reported $1.00 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.35. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company had revenue of $549.01 million during the quarter, compared to analysts' expectations of $527.49 million. During the same period last year, the business posted $0.51 EPS. MongoDB's revenue for the quarter was up 21.8% on a year-over-year basis. As a group, equities research analysts forecast that MongoDB will post -1.78 EPS for the current fiscal year.

Insider Activity

In related news, CAO Thomas Bull sold 301 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $173.25, for a total value of $52,148.25. Following the completion of the sale, the chief accounting officer now owns 14,598 shares in the company, valued at $2,529,103.50. This represents a 2.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Srdjan Tanjga sold 525 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total transaction of $90,961.50. Following the completion of the sale, the chief financial officer now directly owns 6,406 shares of the company's stock, valued at $1,109,903.56. The trade was a 7.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 22,203 shares of company stock valued at $3,848,569. Insiders own 3.10% of the company's stock.

Institutional Investors Weigh In On MongoDB

A number of institutional investors and hedge funds have recently made changes to their positions in MDB. OneDigital Investment Advisors LLC raised its stake in MongoDB by 3.9% during the 4th quarter. OneDigital Investment Advisors LLC now owns 1,044 shares of the company's stock valued at $243,000 after acquiring an additional 39 shares during the last quarter. Avestar Capital LLC raised its stake in shares of MongoDB by 2.0% during the fourth quarter. Avestar Capital LLC now owns 2,165 shares of the company's stock worth $504,000 after purchasing an additional 42 shares during the last quarter. Aigen Investment Management LP raised its stake in shares of MongoDB by 1.4% during the fourth quarter. Aigen Investment Management LP now owns 3,921 shares of the company's stock worth $913,000 after purchasing an additional 55 shares during the last quarter. Handelsbanken Fonder AB raised its stake in shares of MongoDB by 0.4% during the first quarter. Handelsbanken Fonder AB now owns 14,816 shares of the company's stock worth $2,599,000 after purchasing an additional 65 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC raised its position in MongoDB by 4.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,647 shares of the company's stock worth $383,000 after buying an additional 75 shares during 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.