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 morning, MarketBeat reports. Monness Crespi & Hardt currently has $295.00 target price on the stock.

Other research analysts also recently issued reports about the stock. Macquarie cut their price target on shares of MongoDB from $300.00 to $215.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Rosenblatt Securities reissued a “buy” rating and issued a $350.00 price target on shares of MongoDB in a report on Tuesday, March 4th. Scotiabank restated a “sector perform” rating and set a $160.00 price objective (down previously from $240.00) on shares of MongoDB in a research report on Friday, April 25th. Barclays lowered their price objective on shares of MongoDB from $280.00 to $252.00 and set an “overweight” rating on the stock in a research report on Friday, May 16th. Finally, Oppenheimer lowered their price objective on shares of MongoDB from $400.00 to $330.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Eight research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $282.47.

MongoDB Price Performance

Shares of NASDAQ:MDB opened at $220.14 on Thursday. The firm has a fifty day moving average price of $176.52 and a two-hundred day moving average price of $229.93. MongoDB has a one year low of $140.78 and a one year high of $370.00. The company has a market cap of $17.87 billion, a price-to-earnings ratio of -80.34 and a beta of 1.40.

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

Insider Activity at MongoDB

In other MongoDB news, CEO Dev Ittycheria sold 18,512 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total value of $3,207,389.12. Following the sale, the chief executive officer now owns 268,948 shares of the company’s stock, valued at $46,597,930.48. This trade represents a 6.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Hope F. Cochran sold 1,175 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $174.69, for a total transaction of $205,260.75. Following the completion of the sale, the director now directly owns 19,333 shares in the company, valued at approximately $3,377,281.77. This trade represents a 5.73% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,203 shares of company stock valued at $3,848,569. Insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On MongoDB

A number of large investors have recently added to or reduced their stakes in MDB. Mirae Asset Global Investments Co. Ltd. grew its holdings in MongoDB by 287.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 55,736 shares of the company’s stock worth $13,130,000 after acquiring an additional 41,339 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of MongoDB by 12.2% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 195,443 shares of the company’s stock worth $45,501,000 after purchasing an additional 21,308 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of MongoDB by 20.9% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,382 shares of the company’s stock worth $1,719,000 after purchasing an additional 1,274 shares during the period. Stephens Investment Management Group LLC lifted its position in shares of MongoDB by 34.3% in the 4th quarter. Stephens Investment Management Group LLC now owns 41,183 shares of the company’s stock worth $9,588,000 after purchasing an additional 10,519 shares during the period. Finally, Vaughan Nelson Investment Management L.P. purchased a new stake in shares of MongoDB in the 4th quarter worth about $15,522,000. Institutional investors own 89.29% of the company’s stock.

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.