MongoDB (NASDAQ:MDB) Earns “Market Outperform” Rating from JMP Securities

JMP Securities restated their market outperform rating on shares of MongoDB (NASDAQ:MDB) in a report published on Thursday,Benzinga reports. JMP Securities currently has a $345.00 price target on the stock.

MDB has been the subject of a number of other research reports. Mizuho decreased their price objective on MongoDB from $250.00 to $190.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. The Goldman Sachs Group decreased their price objective on MongoDB from $390.00 to $335.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Oppenheimer decreased their price objective on MongoDB from $400.00 to $330.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Daiwa Capital Markets began coverage on MongoDB in a report on Tuesday, April 1st. They issued an “outperform” rating and a $202.00 price objective for the company. Finally, UBS Group raised their price target on MongoDB from $213.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday. Eight equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $282.47.

MongoDB Stock Down 2.3%

Shares of MDB stock opened at $220.14 on Thursday. The stock has a fifty day moving average of $176.52 and a 200 day moving average of $229.93. MongoDB has a 52 week low of $140.78 and a 52 week high of $370.00. The firm has a market capitalization of $17.87 billion, a price-to-earnings ratio of -80.34 and a beta of 1.40.

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

Insiders Place Their Bets

In other MongoDB news, CAO Thomas Bull sold 301 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.25, for a total value of $52,148.25. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Hope F. Cochran sold 1,175 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $174.69, for a total value of $205,260.75. Following the completion of the transaction, the director now directly owns 19,333 shares in the company, valued at $3,377,281.77. The trade was a 5.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,203 shares of company stock valued at $3,848,569. Insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. OneDigital Investment Advisors LLC lifted its position in shares of MongoDB by 3.9% during the 4th quarter. OneDigital Investment Advisors LLC now owns 1,044 shares of the company’s stock valued at $243,000 after buying an additional 39 shares in the last quarter. Avestar Capital LLC lifted its position in shares of MongoDB by 2.0% during the 4th quarter. Avestar Capital LLC now owns 2,165 shares of the company’s stock valued at $504,000 after buying an additional 42 shares in the last quarter. Aigen Investment Management LP lifted its position in shares of MongoDB by 1.4% during the 4th quarter. Aigen Investment Management LP now owns 3,921 shares of the company’s stock valued at $913,000 after buying an additional 55 shares in the last quarter. Handelsbanken Fonder AB lifted its position in shares of MongoDB by 0.4% during the 1st quarter. Handelsbanken Fonder AB now owns 14,816 shares of the company’s stock valued at $2,599,000 after buying an additional 65 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its position in shares of MongoDB by 4.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,647 shares of the company’s stock valued at $383,000 after buying an additional 75 shares in the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

About MongoDB

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.