MongoDB (NASDAQ:MDB) Shares Gap Up – Should You Buy?

Shares of MongoDB, Inc. (NASDAQ:MDB) gapped up before the market opened on Thursday . The stock had previously closed at $281.76, but opened at $306.22. MongoDB shares last traded at $319.26, with a volume of 661,635 shares trading hands.

Wall Street Analysts Forecast Growth

MDB has been the topic of a number of recent research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $350.00 price objective on shares of MongoDB in a research report on Friday, August 30th. Wells Fargo & Company raised their price objective on MongoDB from $300.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. Bank of America raised their price objective on MongoDB from $300.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Stifel Nicolaus raised their price objective on MongoDB from $300.00 to $325.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Finally, Sanford C. Bernstein raised their price objective on MongoDB from $358.00 to $360.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, MongoDB has an average rating of “Moderate Buy” and an average target price of $336.54.

MongoDB Stock Performance

The firm has a 50-day moving average of $278.10 and a two-hundred day moving average of $272.88. The company has a quick ratio of 5.03, a current ratio of 5.03 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $24.56 billion, a PE ratio of -110.10 and a beta of 1.15.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.21. The company had revenue of $478.11 million during the quarter, compared to analysts’ expectations 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 period last year, the business earned ($0.63) earnings per share. Research analysts anticipate that MongoDB, Inc. will post -2.39 EPS for the current year.

Insider Activity at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $290.40, for a total value of $290,400.00. Following the sale, the director now directly owns 1,138,006 shares of the company’s stock, valued at approximately $330,476,942.40. This trade represents a 0.09 % 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, CAO Thomas Bull sold 154 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total value of $39,462.50. Following the completion of the sale, the chief accounting officer now directly owns 16,068 shares in the company, valued at approximately $4,117,425. The trade was a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,600 shares of company stock worth $7,034,249. 3.60% of the stock is owned by corporate insiders.

Institutional Trading of MongoDB

A number of institutional investors have recently made changes to their positions in MDB. Jennison Associates LLC boosted its stake in shares of MongoDB by 23.6% in the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock worth $838,632,000 after acquiring an additional 592,038 shares during the last quarter. Swedbank AB boosted its stake in shares of MongoDB by 156.3% in the second quarter. Swedbank AB now owns 656,993 shares of the company’s stock worth $164,222,000 after acquiring an additional 400,705 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of MongoDB by 1,098.1% in the second quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock worth $106,084,000 after acquiring an additional 388,979 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of MongoDB in the second quarter worth approximately $52,131,000. Finally, Avala Global LP acquired a new position in MongoDB during the third quarter worth $47,960,000. 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.