MongoDB (NASDAQ:MDB) Upgraded at Guggenheim

MongoDB (NASDAQ:MDB) was upgraded by analysts at Guggenheim from a “neutral” rating to a “buy” rating in a note issued to investors on Monday,Briefing.com Automated Import reports. The firm currently has a $300.00 target price on the stock. Guggenheim’s price target would indicate a potential upside of 21.76% from the company’s previous close.

Several other equities analysts have also issued reports on MDB. Scotiabank upped their price target on MongoDB from $295.00 to $350.00 and gave the company a “sector perform” rating in a research note on Tuesday, December 10th. Wells Fargo & Company raised their target price on shares of MongoDB from $350.00 to $425.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Robert W. Baird boosted their price target on shares of MongoDB from $380.00 to $390.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Barclays raised their price objective on shares of MongoDB from $375.00 to $400.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Finally, Canaccord Genuity Group upped their target price on shares of MongoDB from $325.00 to $385.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $367.14.

MongoDB Stock Up 0.7 %

Shares of NASDAQ:MDB opened at $246.39 on Monday. The firm has a market cap of $18.35 billion, a P/E ratio of -89.92 and a beta of 1.25. MongoDB has a 12 month low of $212.74 and a 12 month high of $509.62. The company’s 50-day moving average price is $284.50 and its two-hundred day moving average price is $268.59.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.68 by $0.48. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business had revenue of $529.40 million for the quarter, compared to analysts’ expectations of $497.39 million. During the same period in the prior year, the firm earned $0.96 earnings per share. MongoDB’s revenue was up 22.3% compared to the same quarter last year. As a group, equities analysts predict that MongoDB will post -1.86 earnings per share for the current fiscal year.

Insider Activity at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 1,000 shares of MongoDB stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $272.97, for a total value of $272,970.00. Following the sale, the director now directly owns 1,130,006 shares in the company, valued at approximately $308,457,737.82. The trade was a 0.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Hope F. Cochran sold 1,175 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $266.99, for a total transaction of $313,713.25. Following the transaction, the director now owns 17,570 shares of the company’s stock, valued at approximately $4,691,014.30. This represents a 6.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,879 shares of company stock valued at $6,985,212. 3.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC increased its holdings in MongoDB by 3.8% during the third quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the company’s stock worth $295,000 after buying an additional 40 shares during the last quarter. Tanager Wealth Management LLP grew its position in shares of MongoDB by 4.7% in the 3rd quarter. Tanager Wealth Management LLP now owns 957 shares of the company’s stock valued at $259,000 after acquiring an additional 43 shares during the period. Rakuten Securities Inc. increased its stake in shares of MongoDB by 16.5% during the 3rd quarter. Rakuten Securities Inc. now owns 332 shares of the company’s stock worth $90,000 after purchasing an additional 47 shares during the last quarter. Prime Capital Investment Advisors LLC raised its holdings in shares of MongoDB by 5.2% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,190 shares of the company’s stock valued at $322,000 after purchasing an additional 59 shares during the period. Finally, Fulton Bank N.A. lifted its stake in MongoDB by 5.6% in the 3rd quarter. Fulton Bank N.A. now owns 1,199 shares of the company’s stock valued at $324,000 after purchasing an additional 64 shares during the last quarter. Institutional investors and hedge funds 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.