Daiwa Capital Markets Begins Coverage on MongoDB (NASDAQ:MDB)

Investment analysts at Daiwa Capital Markets assumed coverage on shares of MongoDB (NASDAQ:MDB - Get Free Report) in a research report issued on Tuesday, MarketBeat.com reports. The firm set an "outperform" rating and a $202.00 price target on the stock. Daiwa Capital Markets' price objective would suggest a potential upside of 30.84% from the company's previous close.

A number of other research firms have also commented on MDB. Cantor Fitzgerald started coverage on shares of MongoDB in a research note on Wednesday, March 5th. They issued an "overweight" rating and a $344.00 price objective on the stock. JMP Securities restated a "market outperform" rating and issued a $380.00 price target on shares of MongoDB in a research report on Wednesday, December 11th. DA Davidson boosted their target price on MongoDB from $340.00 to $405.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. Scotiabank restated a "sector perform" rating and issued a $240.00 target price (down previously from $275.00) on shares of MongoDB in a research note on Wednesday, March 5th. Finally, Wells Fargo & Company lowered shares of MongoDB from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $365.00 to $225.00 in a research note on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, MongoDB currently has a consensus rating of "Moderate Buy" and an average price target of $312.84.

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MongoDB Stock Performance

Shares of MDB stock traded down $8.95 during mid-day trading on Tuesday, hitting $154.39. 3,886,613 shares of the stock were exchanged, compared to its average volume of 1,758,225. The stock's fifty day simple moving average is $238.83 and its two-hundred day simple moving average is $263.02. MongoDB has a 12-month low of $151.67 and a 12-month high of $387.19. The stock has a market capitalization of $12.53 billion, a price-to-earnings ratio of -56.35 and a beta of 1.49.

MongoDB (NASDAQ:MDB - Get Free Report) last released its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.45). The firm had revenue of $548.40 million for the quarter, compared to analyst estimates of $519.65 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. During the same period last year, the firm earned $0.86 EPS. On average, research analysts expect that MongoDB will post -1.78 earnings per share for the current fiscal year.

Insider Activity at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 1,045 shares of the stock in a transaction on Monday, January 13th. The shares were sold at an average price of $242.67, for a total transaction of $253,590.15. Following the transaction, the director now directly owns 85,652 shares in the company, valued at $20,785,170.84. This represents a 1.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Hope F. Cochran sold 1,175 shares of MongoDB stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $174.69, for a total value of $205,260.75. Following the completion of the transaction, the director now owns 19,333 shares of the company's stock, valued at $3,377,281.77. This trade represents a 5.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 37,032 shares of company stock valued at $9,818,567. Corporate insiders own 3.60% of the company's stock.

Institutional Investors Weigh In On MongoDB

A number of hedge funds have recently added to or reduced their stakes in the stock. Strategic Investment Solutions Inc. IL bought a new stake in shares of MongoDB during the fourth quarter valued at approximately $29,000. Hilltop National Bank lifted its stake in MongoDB by 47.2% during the fourth quarter. Hilltop National Bank now owns 131 shares of the company's stock valued at $30,000 after buying an additional 42 shares in the last quarter. NCP Inc. acquired a new position in shares of MongoDB in the fourth quarter worth about $35,000. Continuum Advisory LLC increased its position in shares of MongoDB by 621.1% in the third quarter. Continuum Advisory LLC now owns 137 shares of the company's stock worth $40,000 after acquiring an additional 118 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of MongoDB by 1,100.0% during the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company's stock valued at $42,000 after acquiring an additional 165 shares during the period. 89.29% of the stock is currently owned by 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.