Mongodb (MDB) Raised to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Mongodb (NASDAQ:MDB) from a hold rating to a buy rating in a research report released on Wednesday. They currently have $107.00 target price on the stock.
According to Zacks, “MongoDB, Inc. provides general purpose database platform. Its products include MongoDB Enterprise Advanced, MongoDB Enterprise for OEM, MongoDB Professional, MongoDB Stitch, MongoDB Atlas, Development Support, Ops Manager, Cloud Manager, Compass, Connector for business intelligence, and Connector for Spark. The company serves financial services, government, healthcare, media and entertainment, retail, technology and telecommunications industries. MongoDB, Inc. is headquartered in New York. “
Other equities research analysts have also issued research reports about the stock. Monness Crespi & Hardt upped their target price on shares of Mongodb from $90.00 to $110.00 and gave the company a buy rating in a research note on Thursday, December 6th. CIBC began coverage on shares of Mongodb in a research note on Wednesday, October 17th. They issued an outperform rating and a $80.00 target price on the stock. Oppenheimer began coverage on shares of Mongodb in a research note on Wednesday, October 17th. They issued an outperform rating and a $80.00 target price on the stock. Needham & Company LLC upped their target price on shares of Mongodb to $97.00 and gave the company a buy rating in a research note on Friday, December 14th. Finally, Citigroup upped their target price on shares of Mongodb from $86.00 to $94.00 and gave the company a neutral rating in a research note on Thursday, December 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $88.08.
Mongodb (NASDAQ:MDB) last issued its quarterly earnings data on Tuesday, December 4th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.26. The firm had revenue of $65.00 million for the quarter, compared to analyst estimates of $60.26 million. Mongodb had a negative net margin of 54.74% and a negative return on equity of 54.80%. The firm’s revenue was up 56.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.44) EPS. Sell-side analysts forecast that Mongodb will post -2.23 EPS for the current fiscal year.
In other Mongodb news, CEO Dev Ittycheria sold 20,965 shares of the company’s stock in a transaction dated Wednesday, January 2nd. The shares were sold at an average price of $79.79, for a total value of $1,672,797.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Whale Rock Capital Management sold 683,871 shares of the company’s stock in a transaction dated Friday, November 30th. The stock was sold at an average price of $82.39, for a total transaction of $56,344,131.69. The disclosure for this sale can be found here. In the last quarter, insiders have sold 886,778 shares of company stock worth $73,434,628. 40.04% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of MDB. Schwab Charles Investment Management Inc. grew its position in Mongodb by 52.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 7,623 shares of the company’s stock worth $379,000 after purchasing an additional 2,623 shares during the last quarter. FMR LLC grew its position in Mongodb by 7,986.7% in the 2nd quarter. FMR LLC now owns 2,268,485 shares of the company’s stock worth $112,585,000 after purchasing an additional 2,240,433 shares during the last quarter. Northern Trust Corp grew its position in Mongodb by 184.1% in the 2nd quarter. Northern Trust Corp now owns 55,895 shares of the company’s stock worth $2,774,000 after purchasing an additional 36,223 shares during the last quarter. TRUE Private Wealth Advisors bought a new position in Mongodb in the 3rd quarter worth about $182,000. Finally, Mizuho Securities USA LLC bought a new position in Mongodb in the 3rd quarter worth about $359,000. Hedge funds and other institutional investors own 49.16% of the company’s stock.
Mongodb Company Profile
MongoDB, Inc operates as a general purpose database platform worldwide. The company offers MongoDB Enterprise Advanced, a subscription package for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; MongoDB Atlas, a cloud-hosted 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.
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