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

Key Points

• MongoDB, Inc. has received a consensus rating of "Moderate Buy" from 37 analysts, with 27 recommending buying the stock and one issuing a strong buy rating.
• The average price target for MongoDB among analysts is $281.31, with recent price targets ranging from $230.00 to $320.00.
• In its latest earnings report, MongoDB exceeded expectations by reporting $1.00 earnings per share against a consensus estimate of $0.65, contributing to a 21.8% revenue increase year-over-year.

Shares of MongoDB, Inc. (NASDAQ:MDB - Get Free Report) have been given a consensus rating of "Moderate Buy" by the thirty-seven ratings firms that are covering the company, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $281.3143.

Several research firms have issued reports on MDB. Stephens started coverage on shares of MongoDB in a research note on Friday, July 18th. They set an "equal weight" rating and a $247.00 price target on the stock. Guggenheim upped their price objective on shares of MongoDB from $235.00 to $260.00 and gave the company a "buy" rating in a research note on Thursday, June 5th. Macquarie reaffirmed a "neutral" rating and issued a $230.00 target price (up from $215.00) on shares of MongoDB in a research note on Friday, June 6th. Scotiabank boosted their price target on MongoDB from $160.00 to $230.00 and gave the company a "sector perform" rating in a report on Thursday, June 5th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $320.00 price objective on shares of MongoDB in a report on Thursday, June 5th.

MongoDB Price Performance

MongoDB stock opened at $227.86 on Friday. The stock's 50 day moving average price is $214.82 and its 200 day moving average price is $211.90. MongoDB has a 1-year low of $140.78 and a 1-year high of $370.00. The company has a market cap of $18.62 billion, a PE ratio of -199.88 and a beta of 1.44.

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

Insider Activity

In other news, Director Hope F. Cochran sold 1,174 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $201.08, for a total transaction of $236,067.92. Following the sale, the director owned 21,096 shares in the company, valued at $4,241,983.68. The trade was a 5.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dev Ittycheria sold 8,335 shares of the company's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $243.89, for a total transaction of $2,032,823.15. Following the completion of the sale, the chief executive officer owned 236,557 shares of the company's stock, valued at approximately $57,693,886.73. This trade represents a 3.40% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,416 shares of company stock worth $11,936,656. Insiders own 3.10% of the company's stock.

Institutional Investors Weigh In On MongoDB

A number of institutional investors have recently bought and sold shares of MDB. 111 Capital acquired a new position in MongoDB in the 4th quarter worth about $390,000. Park Avenue Securities LLC grew its stake in shares of MongoDB by 52.6% in the 1st quarter. Park Avenue Securities LLC now owns 2,630 shares of the company's stock valued at $461,000 after buying an additional 907 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in MongoDB by 4.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,748 shares of the company's stock worth $1,359,000 after buying an additional 298 shares during the last quarter. Sowell Financial Services LLC bought a new position in MongoDB during the first quarter valued at approximately $263,000. Finally, Farther Finance Advisors LLC lifted its stake in MongoDB by 57.2% in the first quarter. Farther Finance Advisors LLC now owns 1,242 shares of the company's stock valued at $219,000 after acquiring an additional 452 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

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.

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