MongoDB, Inc. (NASDAQ:MDB) Given Average Rating of "Moderate Buy" by Analysts

Shares of MongoDB, Inc. (NASDAQ:MDB - Get Free Report) have earned an average recommendation of "Moderate Buy" from the thirty-three brokerages that are covering the firm, Marketbeat reports. Nine investment analysts have rated the stock with a hold recommendation, twenty-three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $286.88.

MDB has been the subject of a number of recent analyst reports. Wells Fargo & Company downgraded shares of MongoDB from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $365.00 to $225.00 in a research report on Thursday, March 6th. Oppenheimer reduced their price target on shares of MongoDB from $400.00 to $330.00 and set an "outperform" rating on the stock in a research report on Thursday, March 6th. Bank of America decreased their target price on shares of MongoDB from $420.00 to $286.00 and set a "buy" rating for the company in a research note on Thursday, March 6th. Cantor Fitzgerald initiated coverage on shares of MongoDB in a report on Wednesday, March 5th. They issued an "overweight" rating and a $344.00 target price for the company. Finally, Guggenheim dropped their price objective on shares of MongoDB from $300.00 to $235.00 and set a "buy" rating for the company in a report on Wednesday.

MongoDB Price Performance

NASDAQ:MDB traded up $0.14 during mid-day trading on Friday, reaching $189.09. The stock had a trading volume of 911,565 shares, compared to its average volume of 1,930,134. The stock has a 50-day simple moving average of $174.60 and a two-hundred day simple moving average of $234.52. The stock has a market capitalization of $15.35 billion, a PE ratio of -68.98 and a beta of 1.49. MongoDB has a 12 month low of $140.78 and a 12 month high of $370.00.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.45). The business had revenue of $548.40 million during the quarter, compared to the consensus estimate of $519.65 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. During the same period in the prior year, the firm earned $0.86 EPS. Equities analysts expect that MongoDB will post -1.78 EPS for the current year.

Insiders Place Their Bets

In related news, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $270.63, for a total value of $811,890.00. Following the sale, the director now owns 1,109,006 shares of the company's stock, valued at approximately $300,130,293.78. This trade represents a 0.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Srdjan Tanjga sold 525 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 $90,961.50. Following the transaction, the chief financial officer now directly owns 6,406 shares in the company, 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. Insiders sold 25,203 shares of company stock valued at $4,660,459 over the last 90 days. 3.60% of the stock is currently owned by company insiders.

Institutional Trading of MongoDB

Institutional investors and hedge funds have recently modified their holdings of the business. Jericho Capital Asset Management L.P. bought a new position in shares of MongoDB in the first quarter valued at approximately $161,543,000. Norges Bank purchased a new position in MongoDB during the 4th quarter valued at about $189,584,000. Primecap Management Co. CA grew its stake in shares of MongoDB by 863.5% in the 1st quarter. Primecap Management Co. CA now owns 870,550 shares of the company's stock worth $152,694,000 after buying an additional 780,200 shares during the last quarter. Westfield Capital Management Co. LP bought a new position in MongoDB in the 1st quarter valued at approximately $128,706,000. Finally, Vanguard Group Inc. lifted its position in MongoDB by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 7,809,768 shares of the company's stock valued at $1,369,833,000 after acquiring an additional 481,023 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors.

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.