MongoDB (NASDAQ:MDB) Given Outperform Rating at William Blair

MongoDB (NASDAQ:MDB - Get Free Report)'s stock had its "outperform" rating restated by William Blair in a research note issued to investors on Thursday,RTT News reports.

Several other research firms also recently issued reports on MDB. Truist Financial cut their price objective on MongoDB from $300.00 to $275.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Rosenblatt Securities cut their price objective on MongoDB from $305.00 to $290.00 and set a "buy" rating on the stock in a report on Thursday, June 5th. Monness Crespi & Hardt upgraded MongoDB from a "neutral" rating to a "buy" rating and set a $295.00 price objective on the stock in a report on Thursday, June 5th. Stifel Nicolaus cut their price objective on MongoDB from $340.00 to $275.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Finally, UBS Group upped their price target on MongoDB from $213.00 to $240.00 and gave the stock a "neutral" rating in a report on Thursday, June 5th. Eight equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $282.47.

MongoDB Stock Up 1.2%

NASDAQ:MDB traded up $2.44 on Thursday, reaching $209.20. The company's stock had a trading volume of 1,518,600 shares, compared to its average volume of 1,958,252. MongoDB has a 12-month low of $140.78 and a 12-month high of $370.00. The firm has a market cap of $17.09 billion, a price-to-earnings ratio of -183.51 and a beta of 1.39. The stock has a 50 day moving average price of $188.81 and a 200 day moving average price of $219.23.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its earnings results on Wednesday, June 4th. The company reported $1.00 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.35. The company had revenue of $549.01 million for 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.51 earnings per share. Equities research analysts expect that MongoDB will post -1.78 EPS for the current fiscal year.

Insider Activity at MongoDB

In related news, Director Hope F. Cochran sold 1,175 shares of the company's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $174.69, for a total value of $205,260.75. Following the completion of the sale, the director now directly owns 19,333 shares of the company's stock, valued at $3,377,281.77. This represents a 5.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Thomas Bull sold 301 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $173.25, for a total value of $52,148.25. Following the completion of the sale, the chief accounting officer now directly owns 14,598 shares of the company's stock, valued at approximately $2,529,103.50. This trade represents a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,382 shares of company stock valued at $10,403,807 in the last three months. 3.10% of the stock is currently owned by company insiders.

Institutional Trading of MongoDB

Several institutional investors and hedge funds have recently added to or reduced their stakes in MDB. First Horizon Advisors Inc. raised its stake in MongoDB by 91.3% during the 4th quarter. First Horizon Advisors Inc. now owns 486 shares of the company's stock valued at $113,000 after acquiring an additional 232 shares during the last quarter. IFP Advisors Inc raised its stake in MongoDB by 54.3% during the 4th quarter. IFP Advisors Inc now owns 1,632 shares of the company's stock valued at $380,000 after acquiring an additional 574 shares during the last quarter. Amalgamated Bank raised its stake in MongoDB by 1.9% during the 4th quarter. Amalgamated Bank now owns 4,713 shares of the company's stock valued at $1,097,000 after acquiring an additional 89 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in MongoDB during the 4th quarter valued at approximately $8,763,000. Finally, GenTrust LLC purchased a new stake in MongoDB during the 4th quarter valued at approximately $4,446,000. 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.

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