MongoDB (NASDAQ:MDB) Rating Increased to Hold at Stephens

MongoDB (NASDAQ:MDB - Get Free Report) was upgraded by equities research analysts at Stephens to a "hold" rating in a research report issued on Thursday,Zacks.com reports.

Other research analysts have also recently issued reports about the company. Loop Capital cut MongoDB from a "buy" rating to a "hold" rating and reduced their price target for the company from $350.00 to $190.00 in a research report on Tuesday, May 20th. Needham & Company LLC reiterated a "buy" rating and set a $270.00 target price on shares of MongoDB in a research note on Thursday, June 5th. Rosenblatt Securities reduced their price target on MongoDB from $305.00 to $290.00 and set a "buy" rating on the stock in a research report on Thursday, June 5th. Guggenheim raised their target price on MongoDB from $235.00 to $260.00 and gave the company a "buy" rating in a report on Thursday, June 5th. Finally, William Blair reaffirmed an "outperform" rating on shares of MongoDB in a report on Thursday, June 26th. Nine investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $281.35.

MongoDB Stock Up 0.9%

Shares of MongoDB stock traded up $2.05 during trading on Thursday, reaching $224.29. 1,904,447 shares of the company were exchanged, compared to its average volume of 1,989,007. MongoDB has a twelve month low of $140.78 and a twelve month high of $370.00. The business has a 50-day moving average price of $203.32 and a 200-day moving average price of $212.66. The firm has a market capitalization of $18.33 billion, a price-to-earnings ratio of -196.75 and a beta of 1.41.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $549.01 million during the quarter, compared to analysts' expectations of $527.49 million. During the same period in the previous year, the firm earned $0.51 earnings per share. The company's revenue was up 21.8% on a year-over-year basis. On average, equities research analysts forecast that MongoDB will post -1.78 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Dev Ittycheria sold 25,005 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $234.00, for a total value of $5,851,170.00. Following the completion of the transaction, the chief executive officer directly owned 256,974 shares of the company's stock, valued at $60,131,916. This represents a 8.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $201.08, for a total transaction of $236,067.92. Following the transaction, the director directly owned 21,096 shares of the company's stock, valued at $4,241,983.68. This represents a 5.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,746 shares of company stock valued at $7,500,196 over the last three months. Corporate insiders own 3.10% of the company's stock.

Institutional Investors Weigh In On MongoDB

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Natixis Advisors LLC boosted its stake in shares of MongoDB by 49.7% during the 4th quarter. Natixis Advisors LLC now owns 27,397 shares of the company's stock worth $6,378,000 after acquiring an additional 9,093 shares during the last quarter. Vinva Investment Management Ltd bought a new stake in shares of MongoDB during the 4th quarter valued at $420,000. Royal London Asset Management Ltd. grew its position in shares of MongoDB by 8.1% during the 4th quarter. Royal London Asset Management Ltd. now owns 30,096 shares of the company's stock valued at $7,007,000 after acquiring an additional 2,266 shares during the period. Virtu Financial LLC grew its position in shares of MongoDB by 101.7% during the 4th quarter. Virtu Financial LLC now owns 20,202 shares of the company's stock valued at $4,703,000 after acquiring an additional 10,186 shares during the period. Finally, Quantbot Technologies LP bought a new stake in shares of MongoDB during the 4th quarter valued at $702,000. Hedge funds and other 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.