Macquarie Reiterates Neutral Rating for MongoDB (NASDAQ:MDB)

MongoDB (NASDAQ:MDB - Get Free Report)'s stock had its "neutral" rating reaffirmed by Macquarie in a note issued to investors on Friday, Marketbeat.com reports. They presently have a $230.00 price objective on the stock, up from their previous price objective of $215.00. Macquarie's price target points to a potential upside of 4.48% from the company's previous close.

MDB has been the topic of several other reports. UBS Group raised their target price on MongoDB from $213.00 to $240.00 and gave the company a "neutral" rating in a report on Thursday. Bank of America raised their target price on MongoDB from $215.00 to $275.00 and gave the company a "buy" rating in a report on Thursday. DA Davidson restated a "buy" rating and set a $275.00 target price on shares of MongoDB in a report on Thursday. Mizuho cut their target price on MongoDB from $250.00 to $190.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Finally, Needham & Company LLC restated a "buy" rating and set a $270.00 target price on shares of MongoDB in a report on Thursday. Eight investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $282.47.

MongoDB Stock Performance

Shares of NASDAQ:MDB traded down $5.24 during midday trading on Friday, hitting $220.14. 3,373,173 shares of the stock were exchanged, compared to its average volume of 1,951,618. MongoDB has a 52-week low of $140.78 and a 52-week high of $370.00. The business's fifty day simple moving average is $176.52 and its two-hundred day simple moving average is $229.93. The company has a market capitalization of $17.87 billion, a PE ratio of -80.34 and a beta of 1.40.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly earnings data on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $549.01 million during the quarter, compared to analyst estimates of $527.49 million. During the same period last year, the company earned $0.51 earnings per share. MongoDB's quarterly revenue was up 21.8% compared to the same quarter last year. As a group, equities analysts anticipate that MongoDB will post -1.78 EPS for the current year.

Insider Buying and Selling at MongoDB

In other news, CEO Dev Ittycheria sold 18,512 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total value of $3,207,389.12. Following the transaction, the chief executive officer now directly owns 268,948 shares of the company's stock, valued at $46,597,930.48. The trade was a 6.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cedric Pech sold 1,690 shares of the business's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total value of $292,809.40. Following the completion of the transaction, the insider now directly owns 57,634 shares in the company, valued at approximately $9,985,666.84. This represents a 2.85% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,203 shares of company stock valued at $3,848,569. 3.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MongoDB

A number of institutional investors and hedge funds have recently bought and sold shares of MDB. Mirae Asset Global Investments Co. Ltd. boosted its stake in MongoDB by 287.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 55,736 shares of the company's stock worth $13,130,000 after purchasing an additional 41,339 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in MongoDB by 12.2% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 195,443 shares of the company's stock worth $45,501,000 after purchasing an additional 21,308 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in MongoDB by 20.9% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,382 shares of the company's stock worth $1,719,000 after purchasing an additional 1,274 shares during the last quarter. Stephens Investment Management Group LLC raised its position in MongoDB by 34.3% in the 4th quarter. Stephens Investment Management Group LLC now owns 41,183 shares of the company's stock worth $9,588,000 after purchasing an additional 10,519 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new position in MongoDB in the 4th quarter worth approximately $15,522,000. Institutional investors and hedge funds own 89.29% of the company's stock.

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.