MongoDB’s (MDB) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities reissued their market outperform rating on shares of MongoDB (NASDAQ:MDB) in a research report report published on Thursday morning,Benzinga reports. They currently have a $345.00 price objective on the stock.

Several other research analysts have also commented on the company. Citigroup cut their price objective on MongoDB from $430.00 to $330.00 and set a “buy” rating for the company in a report on Tuesday, April 1st. Piper Sandler boosted their price objective on MongoDB from $200.00 to $275.00 and gave the stock an “overweight” rating in a report on Thursday. Canaccord Genuity Group cut their price objective on MongoDB from $385.00 to $320.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Cantor Fitzgerald boosted their price objective on MongoDB from $252.00 to $271.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Truist Financial cut their price objective on MongoDB from $300.00 to $275.00 and set a “buy” rating for the company in a report on Monday, March 31st. Eight investment 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $282.47.

MongoDB Stock Down 2.3%

MDB stock opened at $220.14 on Thursday. The firm has a market capitalization of $17.87 billion, a PE ratio of -80.34 and a beta of 1.40. MongoDB has a twelve month low of $140.78 and a twelve month high of $370.00. The stock has a 50-day simple moving average of $176.52 and a two-hundred day simple moving average of $229.93.

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

Insider Buying and Selling at MongoDB

In other news, CEO Dev Ittycheria sold 18,512 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total transaction of $3,207,389.12. Following the completion of the sale, the chief executive officer now owns 268,948 shares of the company’s stock, valued at approximately $46,597,930.48. This represents a 6.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $52,148.25. Following the sale, the chief accounting officer now directly owns 14,598 shares of the company’s stock, valued at approximately $2,529,103.50. This trade represents a 2.02% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,203 shares of company stock worth $3,848,569. 3.10% of the stock is currently owned by insiders.

Institutional Trading of MongoDB

A number of institutional investors have recently made changes to their positions in the stock. Cloud Capital Management LLC bought a new position in shares of MongoDB during the first quarter valued at approximately $25,000. Hollencrest Capital Management purchased a new stake in MongoDB in the first quarter worth $26,000. Cullen Frost Bankers Inc. lifted its stake in MongoDB by 315.8% in the first quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company’s stock worth $28,000 after acquiring an additional 120 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in MongoDB in the fourth quarter worth $29,000. Finally, NCP Inc. purchased a new stake in MongoDB in the fourth quarter worth $35,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

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.