MongoDB's (MDB) Buy Rating Reiterated at Guggenheim

Key Points

• Guggenheim reiterated a Buy rating on MongoDB with a $475 target, implying about a 100.85% upside from the prior close.
• Analyst views are mixed—27 Buys, 8 Holds and 2 Sells—with an average target of $360.03 and several recent price cuts (Goldman $320, UBS $275, Robert W. Baird $260).
• MongoDB beat the quarter (EPS $1.65 vs. $1.47 est.; revenue $695.1M vs. $669.4M) but remains unprofitable (negative net margin and ROE); shares trade around $236 with a 52‑week range of $148.88–$444.72.

MongoDB (NASDAQ:MDB - Get Free Report)'s stock had its "buy" rating restated by equities researchers at Guggenheim in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $475.00 target price on the stock. Guggenheim's target price indicates a potential upside of 100.85% from the company's previous close.

A number of other analysts have also commented on MDB. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of MongoDB in a research note on Friday, March 27th. Raymond James Financial began coverage on MongoDB in a research note on Monday, December 15th. They set a "market perform" rating on the stock. Robert W. Baird reaffirmed a "neutral" rating and set a $260.00 price objective (down from $500.00) on shares of MongoDB in a research note on Tuesday, March 3rd. The Goldman Sachs Group decreased their price target on MongoDB from $475.00 to $320.00 and set a "buy" rating on the stock in a research note on Wednesday, March 4th. Finally, UBS Group decreased their price target on MongoDB from $440.00 to $275.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 3rd. Twenty-seven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $360.03.

MongoDB Stock Up 0.1%

Shares of MDB stock opened at $236.49 on Tuesday. MongoDB has a fifty-two week low of $148.88 and a fifty-two week high of $444.72. The stock has a market cap of $19.01 billion, a P/E ratio of -269.79 and a beta of 1.60. The business has a fifty day simple moving average of $290.68 and a 200-day simple moving average of $343.60.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly earnings results on Monday, March 2nd. The company reported $1.65 earnings per share for the quarter, beating analysts' consensus estimates of $1.47 by $0.18. The business had revenue of $695.07 million during the quarter, compared to analysts' expectations of $669.40 million. MongoDB had a negative return on equity of 1.03% and a negative net margin of 2.89%.The business's revenue for the quarter was up 26.8% on a year-over-year basis. During the same quarter last year, the business posted $1.28 earnings per share. On average, sell-side analysts anticipate that MongoDB will post -1.78 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Dwight A. Merriman sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $407.70, for a total transaction of $4,077,000.00. Following the completion of the transaction, the director owned 1,031,316 shares in the company, valued at $420,467,533.20. The trade was a 0.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Hope F. Cochran sold 1,566 shares of the business's stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $249.33, for a total value of $390,450.78. Following the transaction, the director owned 24,093 shares of the company's stock, valued at $6,007,107.69. This represents a 6.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 13,895 shares of company stock valued at $5,349,738 in the last 90 days. Insiders own 3.10% of the company's stock.

Institutional Trading of MongoDB

Hedge funds and other institutional investors have recently modified their holdings of the company. Central Pacific Bank Trust Division bought a new stake in shares of MongoDB in the 4th quarter worth $28,000. Cornerstone Planning Group LLC raised its position in shares of MongoDB by 1,220.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 66 shares of the company's stock worth $27,000 after purchasing an additional 61 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of MongoDB during the fourth quarter worth $33,000. Root Financial Partners LLC raised its position in shares of MongoDB by 58.2% during the fourth quarter. Root Financial Partners LLC now owns 87 shares of the company's stock worth $37,000 after purchasing an additional 32 shares during the period. Finally, Global Trust Asset Management LLC acquired a new stake in shares of MongoDB during the fourth quarter worth $38,000. Institutional investors own 89.29% of the company's stock.

MongoDB Company Profile

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company's platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.

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