MongoDB (NASDAQ:MDB) Coverage Initiated by Analysts at Cantor Fitzgerald

Cantor Fitzgerald started coverage on shares of MongoDB (NASDAQ:MDB) in a report published on Friday, Marketbeat reports. The firm issued an overweight rating and a $344.00 price target on the stock.

A number of other brokerages also recently commented on MDB. Monness Crespi & Hardt downgraded MongoDB from a “neutral” rating to a “sell” rating and set a $220.00 target price for the company. in a report on Monday, December 16th. The Goldman Sachs Group lifted their price target on MongoDB from $340.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Stifel Nicolaus upped their price target on MongoDB from $325.00 to $360.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Scotiabank raised their price objective on MongoDB from $295.00 to $350.00 and gave the company a “sector perform” rating in a research report on Tuesday, December 10th. Finally, Needham & Company LLC upped their target price on shares of MongoDB from $335.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, MongoDB has a consensus rating of “Moderate Buy” and an average target price of $363.93.

MongoDB Stock Up 2.1 %

Shares of MongoDB stock opened at $253.11 on Friday. The firm has a market cap of $18.85 billion, a PE ratio of -92.38 and a beta of 1.25. The company’s fifty day simple moving average is $278.24 and its two-hundred day simple moving average is $269.10. MongoDB has a 12-month low of $212.74 and a 12-month high of $509.62.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.48. The company had revenue of $529.40 million for the quarter, compared to the consensus estimate of $497.39 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. MongoDB’s revenue was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.96 EPS. As a group, sell-side analysts expect that MongoDB will post -1.79 earnings per share for the current fiscal year.

Insider Buying and Selling at MongoDB

In other MongoDB news, CAO Thomas Bull sold 1,000 shares of the company’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 directly owns 15,068 shares of the company’s stock, valued at approximately $5,363,002.56. This represents a 6.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Cedric Pech sold 287 shares of MongoDB stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $67,183.83. Following the transaction, the insider now owns 24,390 shares in the company, valued at $5,709,455.10. This represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,821 shares of company stock valued at $6,831,215. 3.60% of the stock is owned by company insiders.

Institutional Trading of MongoDB

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Hilltop National Bank increased its stake in shares of MongoDB by 47.2% in the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after purchasing an additional 42 shares in the last quarter. Quarry LP boosted its holdings in MongoDB by 2,580.0% in the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after buying an additional 129 shares during the period. Brooklyn Investment Group purchased a new stake in MongoDB in the 3rd quarter worth $36,000. GAMMA Investing LLC increased its stake in MongoDB by 178.8% in the 3rd quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock worth $39,000 after buying an additional 93 shares in the last quarter. Finally, Continuum Advisory LLC raised its holdings in MongoDB by 621.1% during the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after acquiring an additional 118 shares during the period. Hedge funds and other 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.