MongoDB (NASDAQ:MDB) Stock Rating Upgraded by Guggenheim

Guggenheim upgraded shares of MongoDB (NASDAQ:MDB) from a neutral rating to a buy rating in a research note published on Monday morning, MarketBeat.com reports. They currently have $300.00 price objective on the stock.

Several other equities research analysts have also issued reports on MDB. Robert W. Baird raised their price objective on MongoDB from $380.00 to $390.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Mizuho raised their price target on MongoDB from $275.00 to $320.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Monness Crespi & Hardt cut shares of MongoDB from a “neutral” rating to a “sell” rating and set a $220.00 price objective on the stock. in a research report on Monday, December 16th. Royal Bank of Canada raised their target price on shares of MongoDB from $350.00 to $400.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Finally, Citigroup upped their price target on shares of MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a report on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $367.14.

MongoDB Stock Performance

NASDAQ MDB opened at $252.86 on Monday. The stock has a 50 day moving average price of $284.11 and a 200-day moving average price of $269.17. MongoDB has a one year low of $212.74 and a one year high of $509.62. The company has a market capitalization of $18.83 billion, a P/E ratio of -92.28 and a beta of 1.25.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Monday, December 9th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.48. The business had revenue of $529.40 million during the quarter, compared to analysts’ expectations of $497.39 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business’s revenue was up 22.3% on a year-over-year basis. During the same period last year, the company posted $0.96 EPS. As a group, equities analysts predict that MongoDB will post -1.86 EPS for the current fiscal year.

Insider Activity at MongoDB

In related news, CFO Michael Lawrence Gordon sold 5,000 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $290.31, for a total transaction of $1,451,550.00. Following the completion of the sale, the chief financial officer now owns 80,307 shares of the company’s stock, valued at $23,313,925.17. This represents a 5.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Thomas Bull sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $355.92, for a total transaction of $355,920.00. Following the completion of the sale, the chief accounting officer now owns 15,068 shares of the company’s stock, valued at approximately $5,363,002.56. This trade represents a 6.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,161 shares of company stock valued at $8,700,776 over the last ninety days. 3.60% of the stock is owned by company insiders.

Institutional Trading of MongoDB

A number of institutional investors have recently made changes to their positions in MDB. Arizona State Retirement System grew its position in MongoDB by 0.6% during the 2nd quarter. Arizona State Retirement System now owns 19,981 shares of the company’s stock worth $4,994,000 after purchasing an additional 129 shares during the last quarter. Private Advisor Group LLC raised its stake in MongoDB by 167.4% in the 2nd quarter. Private Advisor Group LLC now owns 6,324 shares of the company’s stock worth $1,581,000 after acquiring an additional 3,959 shares during the last quarter. Asset Dedication LLC acquired a new stake in MongoDB during the 2nd quarter worth about $41,000. Acadian Asset Management LLC grew its stake in MongoDB by 1,677.3% during the 2nd quarter. Acadian Asset Management LLC now owns 3,679 shares of the company’s stock valued at $916,000 after purchasing an additional 3,472 shares during the last quarter. Finally, Emerald Advisers LLC increased its holdings in shares of MongoDB by 87.3% in the second quarter. Emerald Advisers LLC now owns 7,391 shares of the company’s stock valued at $1,847,000 after purchasing an additional 3,444 shares during the period. Institutional investors and hedge funds 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.