Mongodb (NASDAQ:MDB) Downgraded to Sell at Zacks Investment Research

Mongodb (NASDAQ:MDB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Friday, 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. “

MDB has been the topic of several other reports. Citigroup increased their price objective on Mongodb from $184.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, September 5th. Barclays reaffirmed a “buy” rating on shares of Mongodb in a research report on Friday, September 6th. DA Davidson reaffirmed a “positive” rating and set a $143.00 price objective on shares of Mongodb in a research report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and set a $189.00 price objective on shares of Mongodb in a research report on Tuesday. Finally, KeyCorp set a $188.00 price objective on Mongodb and gave the company a “buy” rating in a research report on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the stock. Mongodb presently has a consensus rating of “Buy” and an average price target of $160.86.

Shares of NASDAQ:MDB opened at $124.73 on Friday. Mongodb has a 1-year low of $70.10 and a 1-year high of $184.78. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.82 and a quick ratio of 2.82. The business has a fifty day moving average price of $134.06 and a 200-day moving average price of $142.09. The company has a market capitalization of $7.38 billion, a PE ratio of -72.52 and a beta of 0.13.

Mongodb (NASDAQ:MDB) last issued its quarterly earnings results on Monday, December 9th. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.58) by $0.32. Mongodb had a negative return on equity of 44.70% and a negative net margin of 35.22%. The firm had revenue of $109.40 million during the quarter, compared to the consensus estimate of $97.47 million. During the same period last year, the company earned ($0.30) earnings per share. The company’s revenue was up 52.4% on a year-over-year basis. On average, sell-side analysts anticipate that Mongodb will post -2.26 earnings per share for the current fiscal year.

In other Mongodb news, CRO Cedric Pech sold 1,924 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $130.17, for a total value of $250,447.08. Also, CFO Michael Lawrence Gordon sold 3,207 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $116.55, for a total value of $373,775.85. Insiders sold 159,811 shares of company stock worth $20,337,069 over the last three months. Insiders own 40.04% of the company’s stock.

A number of large investors have recently made changes to their positions in MDB. Captrust Financial Advisors lifted its position in shares of Mongodb by 100.0% during the 2nd quarter. Captrust Financial Advisors now owns 200 shares of the company’s stock valued at $30,000 after buying an additional 100 shares in the last quarter. CENTRAL TRUST Co lifted its position in shares of Mongodb by 79.4% during the 3rd quarter. CENTRAL TRUST Co now owns 226 shares of the company’s stock valued at $27,000 after buying an additional 100 shares in the last quarter. Kovack Advisors Inc. lifted its position in shares of Mongodb by 5.8% during the 3rd quarter. Kovack Advisors Inc. now owns 1,930 shares of the company’s stock valued at $233,000 after buying an additional 105 shares in the last quarter. Concorde Asset Management LLC lifted its position in shares of Mongodb by 1.6% during the 3rd quarter. Concorde Asset Management LLC now owns 6,804 shares of the company’s stock valued at $820,000 after buying an additional 109 shares in the last quarter. Finally, Creative Planning lifted its position in shares of Mongodb by 9.6% during the 2nd quarter. Creative Planning now owns 1,925 shares of the company’s stock valued at $293,000 after buying an additional 169 shares in the last quarter. 78.26% of the stock is currently owned by institutional investors and hedge funds.

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.

Featured Story: Dogs of the Dow

Get a free copy of the Zacks research report on Mongodb (MDB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Mongodb (NASDAQ:MDB)

Receive News & Ratings for Mongodb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mongodb and related companies with MarketBeat.com's FREE daily email newsletter.