MongoDB (NASDAQ:MDB) Stock Rating Upgraded by Monness Crespi & Hardt

Monness Crespi & Hardt upgraded shares of MongoDB (NASDAQ:MDB - Free Report) from a neutral rating to a buy rating in a research report report published on Thursday, Marketbeat Ratings reports. They currently have $295.00 price target on the stock.

MDB has been the subject of a number of other reports. Rosenblatt Securities reaffirmed a "buy" rating and issued a $350.00 price objective on shares of MongoDB in a research report on Tuesday, March 4th. Truist Financial reduced their price objective on shares of MongoDB from $300.00 to $275.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Bank of America reduced their price objective on shares of MongoDB from $420.00 to $286.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. Morgan Stanley dropped their target price on shares of MongoDB from $315.00 to $235.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, Barclays dropped their target price on shares of MongoDB from $280.00 to $252.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Eight research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $282.00.

MongoDB Price Performance

Shares of NASDAQ:MDB traded up $25.65 during midday trading on Thursday, hitting $225.38. 13,169,003 shares of the company's stock were exchanged, compared to its average volume of 1,945,019. The stock has a 50 day moving average price of $175.65 and a 200-day moving average price of $230.40. The company has a market cap of $18.30 billion, a PE ratio of -82.26 and a beta of 1.40. 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 EPS for the quarter, topping the consensus estimate of $0.65 by $0.35. The company had revenue of $549.01 million during the quarter, compared to the consensus estimate of $527.49 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The firm's revenue for the quarter was up 21.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.51 earnings per share. On average, analysts anticipate that MongoDB will post -1.78 EPS for the current fiscal year.

Insider Transactions at MongoDB

In related news, Director Hope F. Cochran sold 1,175 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $174.69, for a total transaction of $205,260.75. Following the transaction, the director now owns 19,333 shares of the company's stock, valued at approximately $3,377,281.77. This trade represents a 5.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Srdjan Tanjga sold 525 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total transaction of $90,961.50. Following the completion of the sale, the chief financial officer now directly owns 6,406 shares in the company, valued at approximately $1,109,903.56. This trade represents a 7.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,203 shares of company stock valued at $3,848,569 in the last quarter. Insiders own 3.10% of the company's stock.

Institutional Investors Weigh In On MongoDB

A number of large investors have recently added to or reduced their stakes in MDB. Mirae Asset Global Investments Co. Ltd. grew its holdings in MongoDB by 287.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 55,736 shares of the company's stock worth $13,130,000 after acquiring an additional 41,339 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in MongoDB by 12.2% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 195,443 shares of the company's stock worth $45,501,000 after acquiring an additional 21,308 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in MongoDB by 20.9% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,382 shares of the company's stock worth $1,719,000 after acquiring an additional 1,274 shares during the last quarter. Stephens Investment Management Group LLC grew its holdings in MongoDB by 34.3% in the 4th quarter. Stephens Investment Management Group LLC now owns 41,183 shares of the company's stock worth $9,588,000 after acquiring an additional 10,519 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new stake in shares of MongoDB during the 4th quarter valued at about $15,522,000. 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.