MongoDB (NASDAQ:MDB) Upgraded by Cantor Fitzgerald to Strong-Buy Rating

MongoDB (NASDAQ:MDBGet Free Report) was upgraded by stock analysts at Cantor Fitzgerald to a “strong-buy” rating in a report released on Thursday, MarketBeat.com reports. The firm presently has a $344.00 price objective on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 35.91% from the company’s previous close.

Several other analysts have also recently weighed in on the company. Needham & Company LLC lifted their price target on MongoDB from $335.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Robert W. Baird boosted their target price on shares of MongoDB from $380.00 to $390.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Monness Crespi & Hardt lowered shares of MongoDB from a “neutral” rating to a “sell” rating and set a $220.00 price target on the stock. in a research report on Monday, December 16th. Mizuho increased their target price on shares of MongoDB from $275.00 to $320.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Finally, Barclays lowered their price objective on MongoDB from $400.00 to $330.00 and set an “overweight” rating on the stock in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, MongoDB has an average rating of “Moderate Buy” and a consensus price target of $363.93.

Get Our Latest Analysis on MongoDB

MongoDB Trading Up 2.1 %

MDB stock opened at $253.11 on Thursday. MongoDB has a 1-year low of $212.74 and a 1-year high of $509.62. The business’s 50 day simple moving average is $278.24 and its 200 day simple moving average is $269.10. The firm has a market capitalization of $18.85 billion, a PE ratio of -92.38 and a beta of 1.25.

MongoDB (NASDAQ:MDBGet Free Report) last issued its quarterly earnings data on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.48. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The company had revenue of $529.40 million for the quarter, compared to analyst estimates of $497.39 million. During the same period in the prior year, the firm earned $0.96 earnings per share. The company’s revenue was up 22.3% on a year-over-year basis. As a group, sell-side analysts predict that MongoDB will post -1.79 EPS for the current fiscal year.

Insider Buying and Selling at MongoDB

In other news, CAO Thomas Bull sold 1,000 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $355.92, for a total value of $355,920.00. Following the sale, the chief accounting officer now directly owns 15,068 shares of the company’s stock, valued at approximately $5,363,002.56. This represents a 6.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Dwight A. Merriman sold 1,045 shares of MongoDB stock in a transaction on Monday, January 13th. The stock was sold at an average price of $242.67, for a total transaction of $253,590.15. Following the transaction, the director now directly owns 85,652 shares of the company’s stock, valued at $20,785,170.84. This represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,821 shares of company stock worth $6,831,215. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

Institutional investors and hedge funds have recently modified their holdings of the business. Hilltop National Bank boosted its stake in MongoDB by 47.2% during the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after acquiring an additional 42 shares in the last quarter. Quarry LP increased its position in MongoDB by 2,580.0% in the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock valued at $33,000 after buying an additional 129 shares in the last quarter. Brooklyn Investment Group acquired a new position in MongoDB during the 3rd quarter worth approximately $36,000. GAMMA Investing LLC lifted its holdings in shares of MongoDB by 178.8% in the 3rd quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock worth $39,000 after purchasing an additional 93 shares in the last quarter. Finally, Continuum Advisory LLC lifted its stake in shares of MongoDB by 621.1% in the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after buying an additional 118 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors.

About MongoDB

(Get Free Report)

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.

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