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

Key Points

• MongoDB has a consensus analyst rating of “Moderate Buy” from 36 firms, with 26 buy ratings versus three sells and seven holds. The average 12-month price target is about $361.97.
• The company recently reported stronger-than-expected quarterly results, earning $1.65 per share versus estimates of $1.47 and revenue of $695.07 million versus $669.40 million expected. Revenue rose 26.8% year over year, though MongoDB still posted negative margins.
• Several analysts lowered price targets on MongoDB after the latest results, including Barclays, BMO Capital Markets, Wells Fargo, and Needham. At the same time, insider selling was reported, with directors including Hope F. Cochran and Dwight A. Merriman trimming shares.

Shares of MongoDB, Inc. (NASDAQ:MDB - Get Free Report) have earned an average recommendation of "Moderate Buy" from the thirty-six ratings firms that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-six have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $361.9677.

Several equities analysts have recently weighed in on MDB shares. Barclays cut their target price on shares of MongoDB from $440.00 to $370.00 and set an "overweight" rating for the company in a report on Tuesday, March 3rd. BMO Capital Markets reissued an "outperform" rating and issued a $340.00 price target (down from $400.00) on shares of MongoDB in a research note on Tuesday, March 3rd. Wells Fargo & Company dropped their price target on shares of MongoDB from $450.00 to $375.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 3rd. Needham & Company LLC dropped their price target on shares of MongoDB from $500.00 to $300.00 and set a "buy" rating on the stock in a research note on Tuesday, March 3rd. Finally, Sanford C. Bernstein cut shares of MongoDB from an "outperform" rating to a "market perform" rating in a research note on Tuesday, March 3rd.

MongoDB Price Performance

NASDAQ:MDB opened at $299.47 on Friday. The firm has a market cap of $24.07 billion, a price-to-earnings ratio of -340.31 and a beta of 1.48. The company has a 50 day moving average price of $262.12 and a 200-day moving average price of $336.87. MongoDB has a 1-year low of $177.43 and a 1-year high of $444.72.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its earnings results on Monday, March 2nd. The company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.18. The firm had revenue of $695.07 million during the quarter, compared to analyst estimates of $669.40 million. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. The business's quarterly revenue was up 26.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.28 EPS. On average, sell-side analysts anticipate that MongoDB will post -0.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Hope F. Cochran sold 1,566 shares of MongoDB stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $249.33, for a total value of $390,450.78. Following the sale, the director owned 24,093 shares of the company's stock, valued at approximately $6,007,107.69. This trade represents a 6.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dwight A. Merriman sold 4,000 shares of MongoDB stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $252.33, for a total transaction of $1,009,320.00. Following the completion of the sale, the director directly owned 476,896 shares in the company, valued at $120,335,167.68. This represents a 0.83% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 13,566 shares of company stock worth $3,294,891 in the last three months. 3.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC lifted its holdings in MongoDB by 1,220.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 66 shares of the company's stock valued at $27,000 after purchasing an additional 61 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in MongoDB in the 4th quarter valued at $28,000. Huntington National Bank lifted its holdings in MongoDB by 110.9% in the 3rd quarter. Huntington National Bank now owns 97 shares of the company's stock valued at $30,000 after purchasing an additional 51 shares in the last quarter. International Assets Investment Management LLC purchased a new position in MongoDB in the 4th quarter valued at $33,000. Finally, Cassaday & Co Wealth Management LLC purchased a new position in MongoDB in the 1st quarter valued at $34,000. Hedge funds and other institutional investors own 89.29% of the company's stock.

About MongoDB

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company's platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.

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