MongoDB, Inc. (NASDAQ:MDB) Receives Average Recommendation of "Moderate Buy" from Analysts

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) has been given an average recommendation of "Moderate Buy" by the thirty-three research firms that are currently covering the stock, Marketbeat reports. Eight research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $282.47.

MDB has been the subject of several research reports. Canaccord Genuity Group decreased their target price on MongoDB from $385.00 to $320.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. Rosenblatt Securities decreased their price objective on shares of MongoDB from $305.00 to $290.00 and set a "buy" rating for the company in a report on Thursday, June 5th. Loop Capital lowered shares of MongoDB from a "buy" rating to a "hold" rating and decreased their price target for the company from $350.00 to $190.00 in a report on Tuesday, May 20th. Robert W. Baird decreased their price target on shares of MongoDB from $390.00 to $300.00 and set an "outperform" rating for the company in a report on Thursday, March 6th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $320.00 price target on shares of MongoDB in a report on Thursday, June 5th.

MongoDB Trading Down 1.3%

MDB stock traded down $2.65 during mid-day trading on Thursday, hitting $201.50. 3,609,482 shares of the company were exchanged, compared to its average volume of 1,963,536. The company has a market capitalization of $16.46 billion, a PE ratio of -176.75 and a beta of 1.40. MongoDB has a twelve month low of $140.78 and a twelve month high of $370.00. The firm has a fifty day simple moving average of $185.96 and a 200 day simple moving average of $220.36.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.35. The business had revenue of $549.01 million during the quarter, compared to the consensus estimate of $527.49 million. MongoDB had a negative return on equity of 3.16% and a negative net margin of 4.09%. The company's revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period last year, the firm earned $0.51 earnings per share. As a group, sell-side analysts anticipate that MongoDB will post -1.78 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Cedric Pech sold 1,690 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total transaction of $292,809.40. Following the completion of the sale, the insider now owns 57,634 shares in the company, valued at approximately $9,985,666.84. This represents a 2.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Hope F. Cochran sold 1,174 shares of the stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $201.08, for a total value of $236,067.92. Following the sale, the director now owns 21,096 shares of the company's stock, valued at $4,241,983.68. This trade represents a 5.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,382 shares of company stock worth $10,403,807 over the last ninety days. Company insiders own 3.10% of the company's stock.

Institutional Investors Weigh In On MongoDB

Hedge funds have recently modified their holdings of the stock. Strategic Investment Solutions Inc. IL purchased a new stake in shares of MongoDB during the fourth quarter valued at $29,000. Cloud Capital Management LLC purchased a new stake in MongoDB during the first quarter valued at about $25,000. NCP Inc. purchased a new stake in MongoDB during the fourth quarter valued at about $35,000. Hollencrest Capital Management purchased a new stake in shares of MongoDB in the 1st quarter valued at approximately $26,000. Finally, Cullen Frost Bankers Inc. lifted its position in shares of MongoDB by 315.8% in the 1st quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company's stock valued at $28,000 after acquiring an additional 120 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.