MongoDB (NASDAQ:MDB) Upgraded to Strong-Buy at Wedbush

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

Several other research firms have also issued reports on MDB. Sanford C. Bernstein increased their target price on shares of MongoDB from $358.00 to $360.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. DA Davidson increased their target price on shares of MongoDB from $330.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. UBS Group increased their target price on shares of MongoDB from $250.00 to $275.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Royal Bank of Canada restated an “outperform” rating and set a $350.00 price target on shares of MongoDB in a research report on Friday, August 30th. Finally, Stifel Nicolaus upped their price target on shares of MongoDB from $300.00 to $325.00 and gave the stock a “buy” 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, twenty have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $337.96.

MongoDB Price Performance

NASDAQ:MDB opened at $271.87 on Thursday. MongoDB has a one year low of $212.74 and a one year high of $509.62. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.03 and a current ratio of 5.03. The firm has a market cap of $19.94 billion, a price-to-earnings ratio of -96.75 and a beta of 1.15. The firm’s fifty day moving average is $269.54 and its two-hundred day moving average is $285.99.

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

Insider Activity

In related news, CAO Thomas Bull sold 1,000 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $282.89, for a total transaction of $282,890.00. Following the completion of the transaction, the chief accounting officer now owns 16,222 shares of the company’s stock, valued at approximately $4,589,041.58. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CAO Thomas Bull sold 1,000 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $282.89, for a total transaction of $282,890.00. Following the completion of the transaction, the chief accounting officer now owns 16,222 shares of the company’s stock, valued at approximately $4,589,041.58. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Cedric Pech sold 302 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total transaction of $77,387.50. Following the transaction, the executive now directly owns 33,440 shares of the company’s stock, valued at $8,569,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,281 shares of company stock valued at $6,310,411 in the last 90 days. 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 added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in MongoDB by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 6,910,761 shares of the company’s stock valued at $2,478,475,000 after buying an additional 68,348 shares during the period. Jennison Associates LLC boosted its position in MongoDB by 14.3% in the 1st quarter. Jennison Associates LLC now owns 4,408,424 shares of the company’s stock valued at $1,581,037,000 after buying an additional 551,567 shares during the period. Swedbank AB boosted its position in MongoDB by 156.3% in the 2nd quarter. Swedbank AB now owns 656,993 shares of the company’s stock valued at $164,222,000 after buying an additional 400,705 shares during the period. Champlain Investment Partners LLC raised its holdings in shares of MongoDB by 22.4% in the 1st quarter. Champlain Investment Partners LLC now owns 550,684 shares of the company’s stock valued at $197,497,000 after purchasing an additional 100,725 shares in the last quarter. Finally, Clearbridge Investments LLC raised its holdings in shares of MongoDB by 109.0% in the 1st quarter. Clearbridge Investments LLC now owns 445,084 shares of the company’s stock valued at $159,625,000 after purchasing an additional 232,101 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.