MongoDB (NASDAQ:MDB) Lifted to “Strong-Buy” at Wedbush

Wedbush upgraded shares of MongoDB (NASDAQ:MDB) to a strong-buy rating in a research report released on Thursday, Zacks.com reports.

A number of other equities analysts also recently issued reports on MDB. Morgan Stanley increased their price target on MongoDB from $320.00 to $340.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. DA Davidson increased their price target on MongoDB from $330.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Truist Financial increased their price target on MongoDB from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Oppenheimer increased their price target on MongoDB from $300.00 to $350.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. Finally, UBS Group upped their price objective on MongoDB from $250.00 to $275.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $337.96.

MongoDB Stock Performance

Shares of MongoDB stock opened at $275.54 on Thursday. The stock’s fifty day moving average is $270.35 and its two-hundred day moving average is $284.99. The company has a market capitalization of $20.21 billion, a PE ratio of -98.06 and a beta of 1.15. The company has a quick ratio of 5.03, a current ratio of 5.03 and a debt-to-equity ratio of 0.84. MongoDB has a 52 week low of $212.74 and a 52 week high of $509.62.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.49 by $0.21. The company had revenue of $478.11 million for the quarter, compared to the consensus estimate of $465.03 million. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. MongoDB’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.63) EPS. As a group, analysts expect that MongoDB will post -2.44 earnings per share for the current year.

Insider Buying and Selling at MongoDB

In other MongoDB news, CAO Thomas Bull sold 154 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $39,462.50. Following the sale, the chief accounting officer now directly owns 16,068 shares of the company’s stock, valued at approximately $4,117,425. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other MongoDB news, CAO Thomas Bull sold 154 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $39,462.50. Following the sale, the chief accounting officer now directly owns 16,068 shares of the company’s stock, valued at approximately $4,117,425. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dwight A. Merriman sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $231.00, for a total value of $462,000.00. Following the completion of the sale, the director now directly owns 1,140,006 shares in the company, valued at approximately $263,341,386. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,281 shares of company stock valued at $6,310,411. Company insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Advisors Asset Management Inc. lifted its position in shares of MongoDB by 12.9% in the first quarter. Advisors Asset Management Inc. now owns 324 shares of the company’s stock valued at $116,000 after acquiring an additional 37 shares in the last quarter. Atria Investments Inc lifted its position in MongoDB by 1.2% during the first quarter. Atria Investments Inc now owns 3,259 shares of the company’s stock worth $1,169,000 after buying an additional 39 shares in the last quarter. Taylor Frigon Capital Management LLC lifted its position in MongoDB by 0.4% during the second quarter. Taylor Frigon Capital Management LLC now owns 9,903 shares of the company’s stock worth $2,475,000 after buying an additional 42 shares in the last quarter. Fifth Third Bancorp lifted its position in MongoDB by 7.6% during the second quarter. Fifth Third Bancorp now owns 620 shares of the company’s stock worth $155,000 after buying an additional 44 shares in the last quarter. Finally, Clarius Group LLC lifted its position in MongoDB by 5.1% during the second quarter. Clarius Group LLC now owns 943 shares of the company’s stock worth $236,000 after buying an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

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.