MongoDB (NASDAQ:MDB) Now Covered by Analysts at Stephens

Stephens began coverage on shares of MongoDB (NASDAQ:MDB - Free Report) in a research note published on Friday morning, MarketBeat Ratings reports. The firm issued an equal weight rating and a $247.00 price objective on the stock.

Several other research analysts have also weighed in on MDB. Piper Sandler upped their target price on MongoDB from $200.00 to $275.00 and gave the stock an "overweight" rating in a research report on Thursday, June 5th. Macquarie reiterated a "neutral" rating and set a $230.00 price target (up previously from $215.00) on shares of MongoDB in a research note on Friday, June 6th. Scotiabank upped their price target on MongoDB from $160.00 to $230.00 and gave the stock a "sector perform" rating in a research note on Thursday, June 5th. Citigroup decreased their price target on MongoDB from $430.00 to $330.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Finally, Wedbush reiterated an "outperform" rating and set a $300.00 price target on shares of MongoDB in a research note on Thursday, June 5th. Nine research 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. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $281.35.

MongoDB Stock Up 0.5%

MongoDB stock traded up $1.03 during mid-day trading on Friday, hitting $222.24. 1,916,229 shares of the company's stock traded hands, compared to its average volume of 1,986,540. The firm has a 50 day moving average price of $203.32 and a 200 day moving average price of $212.66. The company has a market cap of $18.16 billion, a PE ratio of -194.95 and a beta of 1.41. MongoDB has a one year low of $140.78 and a one year high of $370.00.

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

Insider Activity at MongoDB

In other news, 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 value of $236,067.92. Following the completion of the sale, the director directly owned 21,096 shares of the company's stock, valued at $4,241,983.68. This trade represents a 5.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Dwight A. Merriman sold 820 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $210.84, for a total value of $172,888.80. Following the completion of the sale, the director directly owned 1,106,186 shares of the company's stock, valued at approximately $233,228,256.24. The trade was a 0.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,746 shares of company stock valued at $7,500,196. 3.10% of the stock is owned by insiders.

Institutional Investors Weigh In On MongoDB

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

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.