Mizuho Initiates Coverage on MongoDB (NASDAQ:MDB)


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Mizuho began coverage on shares of MongoDB (NASDAQ:MDB) in a research report issued to clients and investors on Monday, Analyst Ratings Network reports. The firm set a “neutral” rating and a $320.00 price target on the stock. Mizuho’s price objective points to a potential upside of 1.33% from the stock’s previous close.

A number of other analysts also recently issued reports on MDB. Needham & Company LLC raised their target price on MongoDB from $394.00 to $409.00 and gave the stock a “buy” rating in a research note on Tuesday, March 16th. UBS Group started coverage on MongoDB in a research report on Monday, March 29th. They set a “neutral” rating and a $325.00 price objective for the company. Morgan Stanley cut their price objective on MongoDB from $439.00 to $415.00 and set an “overweight” rating for the company in a research report on Tuesday, March 16th. Macquarie started coverage on MongoDB in a research report on Wednesday, January 6th. They set an “outperform” rating for the company. Finally, Oppenheimer raised their price objective on MongoDB from $300.00 to $400.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $379.06.

Shares of NASDAQ:MDB opened at $315.80 on Monday. The business’s 50 day moving average price is $314.37 and its 200-day moving average price is $314.75. MongoDB has a 1 year low of $144.30 and a 1 year high of $428.96. The company has a debt-to-equity ratio of 43.46, a current ratio of 4.06 and a quick ratio of 4.06. The firm has a market capitalization of $19.32 billion, a price-to-earnings ratio of -72.43 and a beta of 0.84.

MongoDB (NASDAQ:MDB) last issued its earnings results on Monday, March 8th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.06. MongoDB had a negative return on equity of 343.82% and a negative net margin of 46.73%. The business had revenue of $171.00 million during the quarter, compared to the consensus estimate of $157.05 million. During the same period last year, the company earned ($0.25) EPS. The company’s revenue for the quarter was up 38.4% on a year-over-year basis. On average, sell-side analysts expect that MongoDB will post -3.57 earnings per share for the current year.

In related news, CRO Cedric Pech sold 203 shares of the business’s stock in a transaction that occurred on Monday, April 5th. The stock was sold at an average price of $283.29, for a total transaction of $57,507.87. Following the completion of the sale, the executive now owns 55,294 shares in the company, valued at $15,664,237.26. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Dev Ittycheria sold 35,000 shares of the business’s stock in a transaction that occurred on Thursday, March 4th. The stock was sold at an average price of $336.35, for a total value of $11,772,250.00. Following the sale, the chief executive officer now owns 274,864 shares of the company’s stock, valued at approximately $92,450,506.40. The disclosure for this sale can be found here. Insiders sold a total of 335,720 shares of company stock valued at $102,985,288 in the last quarter. Company insiders own 16.28% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. HBC Financial Services PLLC acquired a new position in MongoDB during the fourth quarter worth approximately $25,000. ForthRight Wealth Management LLC acquired a new position in shares of MongoDB in the fourth quarter valued at approximately $27,000. McCarthy Asset Management Inc. acquired a new position in shares of MongoDB in the fourth quarter valued at approximately $30,000. Navis Wealth Advisors LLC acquired a new position in shares of MongoDB in the fourth quarter valued at approximately $36,000. Finally, CWM LLC increased its holdings in shares of MongoDB by 84.7% in the fourth quarter. CWM LLC now owns 109 shares of the company’s stock valued at $39,000 after purchasing an additional 50 shares during the period. Hedge funds and other institutional investors own 87.36% of the company’s stock.

MongoDB Company Profile

MongoDB, Inc provides general purpose database platform worldwide. The company offers MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; MongoDB Atlas, a hosted multi-cloud 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.

Further Reading: Understanding Price to Earnings Ratio (PE)

Analyst Recommendations for MongoDB (NASDAQ:MDB)

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