MongoDB (NASDAQ:MDB) Upgraded at Guggenheim

Guggenheim upgraded shares of MongoDB (NASDAQ:MDB) from a neutral rating to a buy rating in a research report sent to investors on Monday, MarketBeat Ratings reports. Guggenheim currently has $300.00 price target on the stock.

Several other research firms have also recently weighed in on MDB. Robert W. Baird raised their price target on MongoDB from $380.00 to $390.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Royal Bank of Canada raised their target price on shares of MongoDB from $350.00 to $400.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Truist Financial reaffirmed a “buy” rating and set a $400.00 price target (up previously from $320.00) on shares of MongoDB in a research note on Tuesday, December 10th. Mizuho lifted their price objective on shares of MongoDB from $275.00 to $320.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Finally, Wells Fargo & Company upped their target price on shares of MongoDB from $350.00 to $425.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $367.14.

MongoDB Price Performance

MongoDB stock opened at $248.68 on Monday. MongoDB has a 1 year low of $212.74 and a 1 year high of $509.62. The firm’s 50 day moving average price is $283.52 and its 200-day moving average price is $269.30. The stock has a market cap of $18.52 billion, a P/E ratio of -90.76 and a beta of 1.25.

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

Insider Transactions at MongoDB

In other news, Director Dwight A. Merriman sold 3,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $237.73, for a total value of $713,190.00. Following the completion of the sale, the director now owns 1,117,006 shares in the company, valued at approximately $265,545,836.38. The trade was a 0.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Cedric Pech sold 287 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total transaction of $67,183.83. Following the transaction, the insider now owns 24,390 shares in the company, valued at approximately $5,709,455.10. This represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,161 shares of company stock valued at $8,427,806. 3.60% of the stock is currently owned by company insiders.

Institutional Trading of MongoDB

Hedge funds have recently bought and sold shares of the stock. Jennison Associates LLC increased its holdings in shares of MongoDB by 23.6% in the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock valued at $838,632,000 after acquiring an additional 592,038 shares during the period. Thrivent Financial for Lutherans grew its stake in MongoDB by 1,098.1% in the second quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock valued at $106,084,000 after purchasing an additional 388,979 shares during the last quarter. Point72 Asset Management L.P. bought a new position in MongoDB in the second quarter worth about $52,131,000. Avala Global LP purchased a new stake in shares of MongoDB during the third quarter valued at about $47,960,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of MongoDB by 828.9% in the 2nd quarter. Renaissance Technologies LLC now owns 183,000 shares of the company’s stock valued at $45,743,000 after buying an additional 163,300 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.