MongoDB (NASDAQ:MDB) Raised to Hold at Stephens

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

MDB has been the subject of several other research reports. Scotiabank upped their price target on shares of MongoDB from $160.00 to $230.00 and gave the company a "sector perform" rating in a research report on Thursday, June 5th. Citigroup decreased their price target on shares of MongoDB from $430.00 to $330.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. JMP Securities reissued a "market outperform" rating and set a $345.00 price target on shares of MongoDB in a report on Thursday, June 5th. Rosenblatt Securities lowered their price target on shares of MongoDB from $305.00 to $290.00 and set a "buy" rating for the company in a research report on Thursday, June 5th. Finally, William Blair restated an "outperform" rating on shares of MongoDB in a report on Thursday, June 26th. Nine analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $281.35.

MongoDB Stock Up 1.2%

Shares of MongoDB stock traded up $2.68 during trading on Thursday, hitting $221.21. 1,822,164 shares of the company were exchanged, compared to its average volume of 1,986,813. MongoDB has a fifty-two week low of $140.78 and a fifty-two week high of $370.00. The stock has a market capitalization of $18.08 billion, a price-to-earnings ratio of -194.04 and a beta of 1.41. The firm has a 50 day moving average price of $202.71 and a 200 day moving average price of $213.05.

MongoDB (NASDAQ:MDB - Get Free Report) last issued 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. The business had revenue of $549.01 million for the quarter, compared to analyst estimates of $527.49 million. MongoDB had a negative net margin of 4.09% and a negative return on equity of 3.16%. The company's revenue for the quarter was up 21.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.51 EPS. Analysts predict that MongoDB will post -1.78 earnings per share for the current year.

Insider Activity

In other news, CEO Dev Ittycheria sold 3,747 shares of MongoDB stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $206.05, for a total value of $772,069.35. Following the completion of the transaction, the chief executive officer owned 253,227 shares of the company's stock, valued at $52,177,423.35. The trade was a 1.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dwight A. Merriman sold 820 shares of the business's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $210.84, for a total value of $172,888.80. Following the completion of the transaction, the director directly owned 1,106,186 shares of the company's stock, valued at approximately $233,228,256.24. This trade represents a 0.07% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,746 shares of company stock worth $7,500,196. Corporate insiders own 3.10% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jericho Capital Asset Management L.P. purchased a new stake in shares of MongoDB during the first quarter valued at $161,543,000. Norges Bank purchased a new position in MongoDB during the 4th quarter worth approximately $189,584,000. Primecap Management Co. CA grew its stake in shares of MongoDB by 863.5% during the 1st quarter. Primecap Management Co. CA now owns 870,550 shares of the company's stock worth $152,694,000 after purchasing an additional 780,200 shares during the period. Westfield Capital Management Co. LP acquired a new stake in MongoDB in the 1st quarter valued at $128,706,000. Finally, Vanguard Group Inc. grew its stake in MongoDB by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 7,809,768 shares of the company's stock valued at $1,369,833,000 after acquiring an additional 481,023 shares during the period. 89.29% of the stock is currently owned by 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.