Mongodb (MDB) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Mongodb (NASDAQ:MDB) from a strong-buy rating to a hold rating in a report released on Wednesday, Zacks.com reports.

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. “

Other equities analysts have also recently issued reports about the stock. Stifel Nicolaus upped their price objective on shares of Mongodb from $95.00 to $130.00 and gave the company a buy rating in a research report on Thursday, March 14th. DA Davidson reissued a neutral rating on shares of Mongodb in a research report on Thursday, March 14th. Needham & Company LLC reaffirmed a buy rating and set a $130.00 price target (up previously from $108.00) on shares of Mongodb in a research report on Thursday, March 14th. Canaccord Genuity increased their price target on shares of Mongodb from $95.00 to $125.00 and gave the stock a buy rating in a research report on Thursday, March 14th. Finally, KeyCorp increased their price target on shares of Mongodb from $100.00 to $150.00 and gave the stock an overweight rating in a research report on Thursday, March 14th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company’s stock. Mongodb currently has a consensus rating of Buy and an average target price of $112.69.

NASDAQ:MDB opened at $145.74 on Wednesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.44 and a quick ratio of 3.44. The stock has a market capitalization of $8.08 billion, a price-to-earnings ratio of -84.73 and a beta of -0.01. Mongodb has a 1-year low of $41.94 and a 1-year high of $154.80.

Mongodb (NASDAQ:MDB) last posted its quarterly earnings data on Wednesday, March 13th. The company reported ($0.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.20. The company had revenue of $83.10 million during the quarter, compared to analysts’ expectations of $74.02 million. Mongodb had a negative net margin of 44.47% and a negative return on equity of 49.90%. The firm’s revenue for the quarter was up 84.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.40) EPS. As a group, sell-side analysts expect that Mongodb will post -1.99 earnings per share for the current fiscal year.

In related news, CEO Dev Ittycheria sold 19,600 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $100.94, for a total transaction of $1,978,424.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Eliot Horowitz sold 7,100 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $101.60, for a total transaction of $721,360.00. The disclosure for this sale can be found here. Insiders have sold 204,925 shares of company stock worth $26,066,704 in the last ninety days. Corporate insiders own 40.04% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC raised its stake in Mongodb by 12.5% during the fourth quarter. FMR LLC now owns 5,275,057 shares of the company’s stock worth $441,732,000 after acquiring an additional 586,841 shares during the period. Morgan Stanley raised its stake in Mongodb by 1.1% during the first quarter. Morgan Stanley now owns 5,251,755 shares of the company’s stock worth $772,112,000 after acquiring an additional 58,297 shares during the period. Oregon Public Employees Retirement Fund acquired a new stake in Mongodb during the fourth quarter worth about $33,000. Vanguard Group Inc. raised its stake in Mongodb by 3.6% during the third quarter. Vanguard Group Inc. now owns 1,683,561 shares of the company’s stock worth $137,294,000 after acquiring an additional 58,398 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Mongodb by 146.9% during the first quarter. JPMorgan Chase & Co. now owns 794,387 shares of the company’s stock worth $116,790,000 after acquiring an additional 472,602 shares during the period. Hedge funds and other institutional investors own 62.52% 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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