MongoDB (NASDAQ:MDB) Upgraded by Daiwa America to Strong-Buy Rating

Daiwa America upgraded shares of MongoDB (NASDAQ:MDB) to a strong-buy rating in a report published on Tuesday morning,Zacks.com reports.

Several other equities analysts have also recently commented on MDB. UBS Group set a $350.00 price target on shares of MongoDB in a research report on Tuesday, March 4th. Truist Financial reduced their target price on MongoDB from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Monday. Tigress Financial boosted their price target on MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Morgan Stanley dropped their target price on shares of MongoDB from $350.00 to $315.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Finally, Monness Crespi & Hardt raised shares of MongoDB from a “sell” rating to a “neutral” rating in a report on Monday, March 3rd. Seven research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, MongoDB has a consensus rating of “Moderate Buy” and an average target price of $312.84.

MongoDB Stock Up 2.0 %

Shares of NASDAQ MDB opened at $180.19 on Tuesday. MongoDB has a fifty-two week low of $170.66 and a fifty-two week high of $387.19. The business has a 50 day moving average price of $240.77 and a two-hundred day moving average price of $263.72. The firm has a market cap of $14.63 billion, a PE ratio of -65.76 and a beta of 1.30.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company had revenue of $548.40 million during the quarter, compared to the consensus estimate of $519.65 million. During the same quarter last year, the firm posted $0.86 EPS. On average, analysts anticipate that MongoDB will post -1.78 earnings per share for the current year.

Insider Transactions at MongoDB

In other MongoDB news, CEO Dev Ittycheria sold 8,335 shares of the stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $279.99, for a total transaction of $2,333,716.65. Following the transaction, the chief executive officer now directly owns 217,294 shares of the company’s stock, valued at $60,840,147.06. This represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Dwight A. Merriman sold 1,045 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $242.67, for a total value of $253,590.15. Following the transaction, the director now owns 85,652 shares in the company, valued at approximately $20,785,170.84. This trade represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,857 shares of company stock valued at $9,613,306 in the last three months. Corporate insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

A number of large investors have recently added to or reduced their stakes in MDB. B.O.S.S. Retirement Advisors LLC bought a new stake in shares of MongoDB during the 4th quarter worth $606,000. Geode Capital Management LLC lifted its position in MongoDB by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock worth $331,776,000 after acquiring an additional 34,814 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in MongoDB during the fourth quarter valued at about $3,515,000. Nisa Investment Advisors LLC boosted its holdings in MongoDB by 428.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,755 shares of the company’s stock valued at $1,340,000 after acquiring an additional 4,665 shares during the period. Finally, HighTower Advisors LLC grew its position in shares of MongoDB by 2.0% in the fourth quarter. HighTower Advisors LLC now owns 18,773 shares of the company’s stock valued at $4,371,000 after purchasing an additional 372 shares during 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.