MongoDB (NASDAQ:MDB) Now Covered by Analysts at Wolfe Research

Wolfe Research began coverage on shares of MongoDB (NASDAQ:MDB - Get Free Report) in a research note issued on Wednesday, MarketBeat reports. The brokerage set an "outperform" rating and a $280.00 price target on the stock. Wolfe Research's price objective suggests a potential upside of 38.26% from the stock's previous close.

Several other equities research analysts also recently commented on MDB. DA Davidson reaffirmed a "buy" rating and issued a $275.00 target price on shares of MongoDB in a research note on Thursday, June 5th. Morgan Stanley dropped their price objective on MongoDB from $315.00 to $235.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Royal Bank Of Canada restated an "outperform" rating and issued a $320.00 price target on shares of MongoDB in a report on Thursday, June 5th. Monness Crespi & Hardt raised MongoDB from a "neutral" rating to a "buy" rating and set a $295.00 price target on the stock in a research report on Thursday, June 5th. Finally, Rosenblatt Securities decreased their price objective on MongoDB from $305.00 to $290.00 and set a "buy" rating for the company in a research report on Thursday, June 5th. Eight research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, MongoDB has an average rating of "Moderate Buy" and an average target price of $282.39.

MongoDB Trading Down 3.2%

Shares of MDB traded down $6.76 during trading hours on Wednesday, hitting $202.51. 1,692,989 shares of the stock traded hands, compared to its average volume of 1,970,654. The business has a fifty day moving average of $198.45 and a 200-day moving average of $214.37. The firm has a market capitalization of $16.55 billion, a PE ratio of -177.64 and a beta of 1.41. MongoDB has a 1-year low of $140.78 and a 1-year high of $370.00.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly earnings data on Wednesday, June 4th. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.35. The firm had revenue of $549.01 million during the quarter, compared to analysts' expectations of $527.49 million. MongoDB had a negative return on equity of 3.16% and a negative net margin of 4.09%. The company's quarterly revenue was up 21.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.51 EPS. As a group, equities research analysts expect that MongoDB will post -1.78 earnings per share for the current fiscal year.

Insider Activity

In other MongoDB news, Director Dwight A. Merriman sold 820 shares of MongoDB stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $210.84, for a total transaction 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 $233,228,256.24. The trade was a 0.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Hope F. Cochran sold 1,174 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $201.08, for a total transaction of $236,067.92. Following the completion of the transaction, the director directly owned 21,096 shares in the company, valued at $4,241,983.68. The trade was a 5.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,746 shares of company stock valued at $7,500,196. 3.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On MongoDB

Large investors have recently made changes to their positions in the company. Cloud Capital Management LLC acquired a new stake in shares of MongoDB in the first quarter valued at approximately $25,000. Hollencrest Capital Management acquired a new stake in shares of MongoDB during the 1st quarter worth $26,000. Cullen Frost Bankers Inc. increased its position in shares of MongoDB by 315.8% in the first quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company's stock worth $28,000 after purchasing an additional 120 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in MongoDB in the fourth quarter valued at about $29,000. Finally, Coppell Advisory Solutions LLC raised its stake in MongoDB by 364.0% in the fourth quarter. Coppell Advisory Solutions LLC now owns 232 shares of the company's stock valued at $54,000 after purchasing an additional 182 shares in the last quarter. 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.