MongoDB (NASDAQ:MDB) Stock Rating Upgraded by Mizuho

MongoDB (NASDAQ:MDB) was upgraded by Mizuho from a “neutral” rating to an “outperform” rating in a report released on Monday, Marketbeat Ratings reports. The brokerage presently has a $325.00 price target on the stock. Mizuho’s price objective would suggest a potential upside of 24.44% from the stock’s previous close.

Several other equities analysts also recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of MongoDB in a research report on Monday, December 29th. Citigroup reduced their target price on shares of MongoDB from $435.00 to $400.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Oppenheimer lowered their target price on shares of MongoDB from $425.00 to $375.00 and set an “outperform” rating for the company in a report on Tuesday, March 3rd. Wedbush dropped their price target on shares of MongoDB from $440.00 to $380.00 and set an “outperform” rating for the company in a research note on Tuesday, March 3rd. Finally, The Goldman Sachs Group cut their price target on shares of MongoDB from $475.00 to $320.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, MongoDB presently has a consensus rating of “Moderate Buy” and a consensus target price of $355.24.

MongoDB Stock Down 3.3%

MongoDB stock opened at $261.16 on Monday. The company’s 50-day moving average price is $338.48 and its 200-day moving average price is $352.41. The company has a market cap of $20.99 billion, a PE ratio of -296.77 and a beta of 1.40. MongoDB has a twelve month low of $140.78 and a twelve month high of $444.72.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Monday, March 2nd. The company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.47 by $0.18. MongoDB had a negative return on equity of 1.03% and a negative net margin of 2.89%.The company had revenue of $695.07 million during the quarter, compared to analyst estimates of $669.40 million. During the same quarter last year, the business posted $1.28 earnings per share. The firm’s revenue was up 26.8% on a year-over-year basis. As a group, sell-side analysts expect that MongoDB will post -1.78 earnings per share for the current fiscal year.

Insider Activity at MongoDB

In related news, Director Dwight A. Merriman sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $407.70, for a total value of $4,077,000.00. Following the transaction, the director owned 1,031,316 shares of the company’s stock, valued at $420,467,533.20. This trade represents a 0.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 19,383 shares of company stock valued at $7,910,983 in the last quarter. Corporate insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On MongoDB

Institutional investors have recently modified their holdings of the stock. Cornerstone Planning Group LLC boosted its holdings in shares of MongoDB by 1,220.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 66 shares of the company’s stock valued at $27,000 after purchasing an additional 61 shares during the period. Central Pacific Bank Trust Division purchased a new position in MongoDB during the 4th quarter worth $28,000. Huntington National Bank raised its position in MongoDB by 110.9% during the 3rd quarter. Huntington National Bank now owns 97 shares of the company’s stock valued at $30,000 after purchasing an additional 51 shares in the last quarter. International Assets Investment Management LLC bought a new stake in MongoDB during the 4th quarter valued at $33,000. Finally, Promus Capital LLC purchased a new stake in shares of MongoDB in the 2nd quarter worth $36,000. 89.29% of the stock is owned by hedge funds and other institutional investors.

MongoDB Company Profile

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.