Zacks Investment Research upgraded shares of Mongodb (NASDAQ:MDB) from a hold rating to a buy rating in a research report released on Friday. The brokerage currently has $97.00 price objective on the stock.
According to Zacks, “MongoDB, Inc. provides general purpose database platform. Its products include MongoDB Enterprise Advanced, MongoDB Enterprise for OEM, MongoDB Professional, MongoDB Stitch, MongoDB Atlas, Development Support, Ops Manager, Cloud Manager, Compass, Connector for business intelligence, and Connector for Spark. The company serves financial services, government, healthcare, media and entertainment, retail, technology and telecommunications industries. MongoDB, Inc. is headquartered in New York. “
MDB has been the subject of several other research reports. Barclays increased their target price on Mongodb from $79.00 to $105.00 and gave the company an overweight rating in a research note on Monday, September 17th. They noted that the move was a valuation call. Nomura downgraded Mongodb from a neutral rating to a reduce rating and increased their target price for the company from $43.00 to $63.00 in a research note on Tuesday, October 2nd. They noted that the move was a valuation call. DA Davidson started coverage on Mongodb in a research note on Tuesday, October 2nd. They set a neutral rating and a $80.00 target price for the company. Oppenheimer started coverage on Mongodb in a research note on Wednesday, October 17th. They set an outperform rating and a $80.00 target price for the company. Finally, CIBC started coverage on Mongodb in a research note on Wednesday, October 17th. They set an outperform rating and a $80.00 target price for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $87.31.
Mongodb (NASDAQ:MDB) last issued its quarterly earnings data on Tuesday, December 4th. The company reported ($0.30) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.56) by $0.26. The business had revenue of $65.00 million for the quarter, compared to analyst estimates of $60.26 million. Mongodb had a negative return on equity of 54.80% and a negative net margin of 54.74%. The firm’s revenue for the quarter was up 56.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.44) EPS. Research analysts expect that Mongodb will post -2.23 earnings per share for the current year.
In other Mongodb news, insider Thomas Bull sold 754 shares of the firm’s stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $81.36, for a total value of $61,345.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Meagen Eisenberg sold 7,291 shares of the firm’s stock in a transaction that occurred on Tuesday, January 8th. The stock was sold at an average price of $86.30, for a total value of $629,213.30. The disclosure for this sale can be found here. Insiders sold a total of 886,778 shares of company stock valued at $73,001,777 in the last quarter. Corporate insiders own 40.04% of the company’s stock.
Several hedge funds have recently made changes to their positions in MDB. Schwab Charles Investment Management Inc. lifted its position in shares of Mongodb by 52.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 7,623 shares of the company’s stock worth $379,000 after acquiring an additional 2,623 shares during the period. FMR LLC lifted its position in shares of Mongodb by 7,986.7% during the 2nd quarter. FMR LLC now owns 2,268,485 shares of the company’s stock worth $112,585,000 after buying an additional 2,240,433 shares during the period. OppenheimerFunds Inc. lifted its position in shares of Mongodb by 144.7% during the 2nd quarter. OppenheimerFunds Inc. now owns 411,490 shares of the company’s stock worth $20,423,000 after buying an additional 243,350 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Mongodb during the 2nd quarter worth approximately $4,318,000. Finally, Macquarie Group Ltd. bought a new position in shares of Mongodb during the 2nd quarter worth approximately $1,951,000. Institutional investors own 49.02% of the company’s stock.
Mongodb Company Profile
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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