MongoDB (NASDAQ:MDB) Earns Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of MongoDB (NASDAQ:MDB) in a research note published on Friday, Benzinga reports. Royal Bank of Canada currently has a $350.00 target price on the stock.

Other analysts have also issued reports about the company. Bank of America raised their price target on MongoDB from $300.00 to $350.00 and gave the stock a buy rating in a research note on Friday. Robert W. Baird reduced their price objective on MongoDB from $450.00 to $305.00 and set an outperform rating on the stock in a research note on Friday, May 31st. Guggenheim raised MongoDB from a sell rating to a neutral rating in a research note on Monday, June 3rd. Needham & Company LLC reaffirmed a buy rating and issued a $290.00 price objective on shares of MongoDB in a research note on Thursday, June 13th. Finally, DA Davidson raised MongoDB from a hold rating to a strong-buy rating in a research note on Friday, May 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $341.27.

MongoDB Trading Up 18.3 %

MongoDB stock opened at $290.79 on Friday. The stock has a market cap of $21.33 billion, a PE ratio of -103.48 and a beta of 1.13. The stock has a 50-day moving average price of $249.36 and a 200 day moving average price of $312.37. MongoDB has a 52 week low of $212.74 and a 52 week high of $509.62. The company has a current ratio of 4.93, a quick ratio of 4.93 and a debt-to-equity ratio of 0.90.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Thursday, August 29th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.21. MongoDB had a negative return on equity of 15.95% and a negative net margin of 12.08%. The firm had revenue of $478.11 million during the quarter, compared to analysts’ expectations of $465.03 million. During the same quarter last year, the business posted ($0.63) EPS. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. Equities research analysts predict that MongoDB will post -2.67 earnings per share for the current fiscal year.

Insider Activity

In other news, Director John Dennis Mcmahon sold 10,000 shares of the business’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $228.00, for a total transaction of $2,280,000.00. Following the completion of the transaction, the director now owns 20,020 shares of the company’s stock, valued at approximately $4,564,560. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other MongoDB news, Director John Dennis Mcmahon sold 10,000 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $228.00, for a total value of $2,280,000.00. Following the sale, the director now owns 20,020 shares in the company, valued at approximately $4,564,560. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Thomas Bull sold 138 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $265.29, for a total value of $36,610.02. Following the completion of the sale, the chief accounting officer now owns 17,222 shares in the company, valued at approximately $4,568,824.38. The disclosure for this sale can be found here. Insiders sold a total of 28,179 shares of company stock valued at $6,900,509 over the last three months. Insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

Several institutional investors and hedge funds have recently modified their holdings of the stock. Quadrant Capital Group LLC raised its stake in shares of MongoDB by 5.6% in the fourth quarter. Quadrant Capital Group LLC now owns 412 shares of the company’s stock worth $168,000 after purchasing an additional 22 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of MongoDB by 12.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 226 shares of the company’s stock worth $92,000 after purchasing an additional 25 shares during the last quarter. Yousif Capital Management LLC raised its stake in shares of MongoDB by 3.9% in the fourth quarter. Yousif Capital Management LLC now owns 792 shares of the company’s stock worth $324,000 after purchasing an additional 30 shares during the last quarter. First Trust Direct Indexing L.P. increased its position in shares of MongoDB by 2.2% during the fourth quarter. First Trust Direct Indexing L.P. now owns 1,561 shares of the company’s stock valued at $638,000 after acquiring an additional 33 shares during the last quarter. Finally, Raleigh Capital Management Inc. increased its position in shares of MongoDB by 24.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 182 shares of the company’s stock valued at $74,000 after acquiring an additional 36 shares during the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

About MongoDB

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.