MongoDB's (MDB) "Outperform" Rating Reiterated at Wedbush

MongoDB (NASDAQ:MDB - Get Free Report)'s stock had its "outperform" rating restated by equities researchers at Wedbush in a report released on Thursday,Benzinga reports. They presently have a $300.00 price target on the stock. Wedbush's price target points to a potential upside of 33.11% from the company's current price.

A number of other brokerages have also recently weighed in on MDB. Wells Fargo & Company cut shares of MongoDB from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $365.00 to $225.00 in a report on Thursday, March 6th. UBS Group increased their price objective on MongoDB from $213.00 to $240.00 and gave the company a "neutral" rating in a research report on Thursday. Needham & Company LLC reissued a "buy" rating and set a $270.00 price objective on shares of MongoDB in a research note on Thursday. Bank of America cut their target price on MongoDB from $420.00 to $286.00 and set a "buy" rating on the stock in a research report on Thursday, March 6th. Finally, Macquarie decreased their price target on MongoDB from $300.00 to $215.00 and set a "neutral" rating for the company in a research report on Friday, March 7th. Eight analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $282.00.

MongoDB Trading Up 12.8%

MDB stock traded up $25.65 during trading hours on Thursday, hitting $225.38. 13,169,003 shares of the stock traded hands, compared to its average volume of 1,945,019. The stock has a 50-day simple moving average of $175.65 and a 200 day simple moving average of $230.40. The company has a market cap of $18.30 billion, a P/E ratio of -82.26 and a beta of 1.40. MongoDB has a one year low of $140.78 and a one year high of $370.00.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.35. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The company had revenue of $549.01 million during the quarter, compared to the consensus estimate of $527.49 million. During the same period in the prior year, the company earned $0.51 EPS. MongoDB's revenue was up 21.8% on a year-over-year basis. Analysts forecast that MongoDB will post -1.78 earnings per share for the current year.

Insider Activity at MongoDB

In related news, CFO Srdjan Tanjga sold 525 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total value of $90,961.50. Following the transaction, the chief financial officer now directly owns 6,406 shares of the company's stock, valued at approximately $1,109,903.56. This trade represents a 7.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dev Ittycheria sold 18,512 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total value of $3,207,389.12. Following the sale, the chief executive officer now directly owns 268,948 shares of the company's stock, valued at $46,597,930.48. The trade was a 6.44% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,203 shares of company stock valued at $3,848,569. Insiders own 3.10% of the company's stock.

Hedge Funds Weigh In On MongoDB

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cloud Capital Management LLC bought a new stake in shares of MongoDB during the 1st quarter worth $25,000. Hollencrest Capital Management acquired a new position in MongoDB during the 1st quarter worth $26,000. Cullen Frost Bankers Inc. boosted its holdings in MongoDB by 315.8% during the first quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company's stock valued at $28,000 after acquiring an additional 120 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in shares of MongoDB in the fourth quarter valued at about $29,000. Finally, NCP Inc. acquired a new stake in shares of MongoDB in the fourth quarter valued at about $35,000. Institutional investors and hedge funds own 89.29% of the company's stock.

MongoDB Company Profile

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.