MongoDB (NASDAQ:MDB) Coverage Initiated by Analysts at China Renaissance

Equities research analysts at China Renaissance assumed coverage on shares of MongoDB (NASDAQ:MDB) in a report released on Tuesday, Marketbeat Ratings reports. The firm set a “buy” rating and a $351.00 price target on the stock. China Renaissance’s target price indicates a potential upside of 38.67% from the company’s previous close.

A number of other research firms have also recently issued reports on MDB. Scotiabank lifted their target price on shares of MongoDB from $295.00 to $350.00 and gave the company a “sector perform” rating in a research note on Tuesday, December 10th. Canaccord Genuity Group lifted their price objective on MongoDB from $325.00 to $385.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Piper Sandler reissued an “overweight” rating and issued a $425.00 price objective on shares of MongoDB in a research note on Tuesday, December 10th. Monness Crespi & Hardt lowered MongoDB from a “neutral” rating to a “sell” rating and set a $220.00 target price for the company. in a research note on Monday, December 16th. Finally, Guggenheim upgraded shares of MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 price target on the stock in a research report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $363.50.

MongoDB Trading Up 2.1 %

Shares of MDB stock opened at $253.11 on Tuesday. MongoDB has a 12 month low of $212.74 and a 12 month high of $509.62. The company has a market capitalization of $18.85 billion, a P/E ratio of -92.38 and a beta of 1.25. The stock has a 50 day moving average of $277.47 and a two-hundred day moving average of $269.11.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data 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 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 quarter in the prior year, the company posted $0.96 EPS. Sell-side analysts predict that MongoDB will post -1.79 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Dwight A. Merriman sold 1,045 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $242.67, for a total value of $253,590.15. Following the transaction, the director now directly owns 85,652 shares of the company’s stock, valued at $20,785,170.84. This represents a 1.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Thomas Bull sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $355.92, for a total transaction of $355,920.00. Following the sale, the chief accounting officer now owns 15,068 shares of the company’s stock, valued at approximately $5,363,002.56. This represents a 6.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,821 shares of company stock valued at $6,831,215 in the last quarter. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jennison Associates LLC grew its position in shares of MongoDB by 23.6% during the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock worth $838,632,000 after purchasing an additional 592,038 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of MongoDB by 11,057.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 296,889 shares of the company’s stock valued at $69,119,000 after buying an additional 294,228 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of MongoDB in the second quarter valued at approximately $52,131,000. Avala Global LP acquired a new stake in MongoDB during the third quarter worth approximately $47,960,000. Finally, Eagle Asset Management Inc. bought a new position in MongoDB during the 3rd quarter worth $44,380,000. 89.29% of the stock is owned by institutional investors and hedge funds.

MongoDB Company Profile

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.