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

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) has received an average recommendation of "Moderate Buy" from the thirty-five research firms that are covering the company, MarketBeat reports. Eight analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $282.39.

A number of equities analysts have recently commented on MDB shares. Citigroup decreased their price target on shares of MongoDB from $430.00 to $330.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. UBS Group increased their price target on shares of MongoDB from $213.00 to $240.00 and gave the stock a "neutral" rating in a report on Thursday, June 5th. Mizuho decreased their price target on shares of MongoDB from $250.00 to $190.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Scotiabank increased their price target on shares of MongoDB from $160.00 to $230.00 and gave the stock a "sector perform" rating in a report on Thursday, June 5th. Finally, Truist Financial decreased their price target on shares of MongoDB from $300.00 to $275.00 and set a "buy" rating on the stock in a report on Monday, March 31st.

Insider Transactions at MongoDB

In related news, CEO Dev Ittycheria sold 3,747 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $206.05, for a total value of $772,069.35. Following the transaction, the chief executive officer owned 253,227 shares of the company's stock, valued at approximately $52,177,423.35. This trade represents a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Hope F. Cochran sold 1,174 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $201.08, for a total transaction of $236,067.92. Following the completion of the transaction, the director directly owned 21,096 shares in the company, valued at approximately $4,241,983.68. The trade was a 5.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,746 shares of company stock worth $7,500,196 over the last three months. 3.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MongoDB

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Strategic Investment Solutions Inc. IL purchased a new position in MongoDB during the fourth quarter valued at approximately $29,000. Cloud Capital Management LLC purchased a new position in MongoDB during the first quarter valued at approximately $25,000. Hollencrest Capital Management purchased a new position in MongoDB during the first quarter valued at approximately $26,000. Cullen Frost Bankers Inc. lifted its holdings in MongoDB by 315.8% during the first quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company's stock valued at $28,000 after purchasing an additional 120 shares in the last quarter. Finally, Coppell Advisory Solutions LLC lifted its holdings in MongoDB by 364.0% during the fourth quarter. Coppell Advisory Solutions LLC now owns 232 shares of the company's stock valued at $54,000 after purchasing an additional 182 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company's stock.

MongoDB Trading Down 3.2%

Shares of MDB stock opened at $202.51 on Monday. The stock has a market capitalization of $16.55 billion, a P/E ratio of -177.64 and a beta of 1.41. The firm's 50 day moving average is $199.07 and its 200 day moving average is $213.69. MongoDB has a 12 month low of $140.78 and a 12 month high of $370.00.

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

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.

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