MongoDB (NASDAQ:MDB) Upgraded at Monness Crespi & Hardt

Monness Crespi & Hardt upgraded shares of MongoDB (NASDAQ:MDB) from a neutral rating to a buy rating in a report published on Thursday, MarketBeat Ratings reports. They currently have $295.00 price target on the stock.

Several other equities analysts have also weighed in on MDB. UBS Group set a $350.00 price objective on shares of MongoDB in a report on Tuesday, March 4th. Loop Capital lowered shares of MongoDB from a “buy” rating to a “hold” rating and dropped their price objective for the company from $350.00 to $190.00 in a report on Tuesday, May 20th. Barclays dropped their price objective on shares of MongoDB from $280.00 to $252.00 and set an “overweight” rating on the stock in a report on Friday, May 16th. Wells Fargo & Company lowered shares of MongoDB from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $365.00 to $225.00 in a report on Thursday, March 6th. Finally, Daiwa Capital Markets started coverage on shares of MongoDB in a report on Tuesday, April 1st. They set an “outperform” rating and a $202.00 price objective on the stock. Eight research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, MongoDB has a consensus rating of “Moderate Buy” and a consensus price target of $282.47.

MongoDB Stock Down 2.3%

MDB stock opened at $220.14 on Thursday. The firm has a market cap of $17.87 billion, a price-to-earnings ratio of -80.34 and a beta of 1.40. MongoDB has a 12-month low of $140.78 and a 12-month high of $370.00. The company’s fifty day simple moving average is $176.52 and its 200 day simple moving average is $229.93.

MongoDB (NASDAQ:MDB) last released its earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.35. The business had revenue of $549.01 million for the quarter, compared to analyst estimates of $527.49 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. MongoDB’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.51 earnings per share. Research analysts expect that MongoDB will post -1.78 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Thomas Bull sold 301 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $173.25, for a total transaction of $52,148.25. Following the completion of the transaction, the chief accounting officer now directly owns 14,598 shares of the company’s stock, valued at $2,529,103.50. This represents a 2.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Srdjan Tanjga sold 525 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total transaction of $90,961.50. Following the transaction, the chief financial officer now directly owns 6,406 shares of the company’s stock, valued at $1,109,903.56. This represents a 7.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,203 shares of company stock valued at $3,848,569. Corporate insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Cloud Capital Management LLC purchased a new stake in shares of MongoDB during the 1st quarter valued at approximately $25,000. Hollencrest Capital Management purchased a new stake in shares of MongoDB during the 1st quarter valued at approximately $26,000. Cullen Frost Bankers Inc. lifted its stake in shares of MongoDB by 315.8% during the 1st quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company’s stock valued at $28,000 after buying an additional 120 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of MongoDB during the 4th quarter valued at approximately $29,000. Finally, NCP Inc. purchased a new stake in shares of MongoDB during the 4th quarter valued at approximately $35,000. 89.29% of the stock is owned by institutional investors.

MongoDB Company Profile

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.