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Mongodb (NASDAQ:MDB) Reaches New 52-Week High on Analyst Upgrade

Last updated on Monday, May 25th, 2020 by MarketBeat

Shares of Mongodb Inc (NASDAQ:MDB) hit a new 52-week high during mid-day trading on Monday after Stifel Nicolaus raised their price target on the stock from $160.00 to $225.00. Stifel Nicolaus currently has a buy rating on the stock. Mongodb traded as high as $220.86 and last traded at $220.28, with a volume of 1206700 shares changing hands. The stock had previously closed at $208.92.

A number of other brokerages have also recently issued reports on MDB. Piper Sandler decreased their price objective on shares of Mongodb in a report on Wednesday, March 18th. Oppenheimer decreased their price target on shares of Mongodb from $155.00 to $140.00 in a report on Wednesday, March 18th. ValuEngine downgraded Mongodb from a "buy" rating to a "hold" rating in a research note on Friday, May 1st. Citigroup reduced their target price on Mongodb from $200.00 to $175.00 and set a "buy" rating on the stock in a report on Wednesday, March 18th. Finally, Needham & Company LLC lowered their price target on Mongodb from $172.00 to $170.00 and set a "buy" rating for the company in a report on Monday, April 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of "Buy" and a consensus price target of $158.38.

In other Mongodb news, CTO Eliot Horowitz sold 3,000 shares of the company's stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $140.00, for a total transaction of $420,000.00. Following the sale, the chief technology officer now directly owns 108,622 shares of the company's stock, valued at $15,207,080. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thomas Bull sold 395 shares of the company's stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $120.39, for a total transaction of $47,554.05. Following the sale, the insider now directly owns 17,292 shares in the company, valued at $2,081,783.88. The disclosure for this sale can be found here. In the last three months, insiders sold 106,000 shares of company stock worth $14,602,332. 25.08% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. CIBC Private Wealth Group LLC increased its position in Mongodb by 1.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 5,787 shares of the company's stock worth $762,000 after acquiring an additional 77 shares during the period. Oppenheimer & Co. Inc. grew its position in shares of Mongodb by 3.0% during the 4th quarter. Oppenheimer & Co. Inc. now owns 2,912 shares of the company's stock worth $383,000 after purchasing an additional 84 shares in the last quarter. Coastal Investment Advisors Inc. grew its position in shares of Mongodb by 1.2% during the 4th quarter. Coastal Investment Advisors Inc. now owns 6,893 shares of the company's stock worth $1,025,000 after purchasing an additional 85 shares in the last quarter. CWM LLC grew its position in shares of Mongodb by 82.4% during the 4th quarter. CWM LLC now owns 197 shares of the company's stock worth $26,000 after purchasing an additional 89 shares in the last quarter. Finally, Comerica Bank grew its position in shares of Mongodb by 6.4% during the 1st quarter. Comerica Bank now owns 1,521 shares of the company's stock worth $243,000 after purchasing an additional 91 shares in the last quarter. Institutional investors own 85.60% of the company's stock.

The stock's 50-day simple moving average is $160.94 and its 200-day simple moving average is $147.15. The stock has a market cap of $12.68 billion, a price-to-earnings ratio of -70.38 and a beta of 0.61. The company has a current ratio of 4.59, a quick ratio of 4.59 and a debt-to-equity ratio of 11.09.

Mongodb (NASDAQ:MDB) last announced its earnings results on Tuesday, March 17th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of ($0.28) by $0.03. Mongodb had a negative net margin of 41.62% and a negative return on equity of 66.75%. The firm had revenue of $123.50 million for the quarter, compared to analyst estimates of $110.66 million. During the same quarter in the prior year, the business posted ($0.17) EPS. The business's revenue was up 48.6% compared to the same quarter last year. On average, equities research analysts forecast that Mongodb Inc will post -3.11 earnings per share for the current year.

Mongodb Company Profile (NASDAQ:MDB)

MongoDB, Inc operates as a general purpose database platform worldwide. The company offers MongoDB Enterprise Advanced, a subscription package for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; MongoDB Atlas, a cloud-hosted database-as-a-service solution; 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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7 Stocks to Buy Before the Economy Reopens

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