Cantor Fitzgerald Begins Coverage on MongoDB (NASDAQ:MDB)

Cantor Fitzgerald started coverage on shares of MongoDB (NASDAQ:MDB - Free Report) in a report published on Friday, MarketBeat Ratings reports. The firm issued an overweight rating and a $344.00 price objective on the stock.

Several other analysts have also weighed in on MDB. Wedbush raised MongoDB to a "strong-buy" rating in a research note on Thursday, October 17th. Mizuho lifted their price target on shares of MongoDB from $275.00 to $320.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. Oppenheimer increased their price objective on shares of MongoDB from $350.00 to $400.00 and gave the company an "outperform" rating in a research note on Tuesday, December 10th. KeyCorp boosted their target price on shares of MongoDB from $330.00 to $375.00 and gave the stock an "overweight" rating in a research note on Thursday, December 5th. Finally, Monness Crespi & Hardt cut MongoDB from a "neutral" rating to a "sell" rating and set a $220.00 price target for the company. in a research note on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $363.93.

MongoDB Stock Up 2.0 %

Shares of NASDAQ:MDB traded up $5.05 during trading on Friday, reaching $253.01. 988,824 shares of the company traded hands, compared to its average volume of 1,451,614. The firm has a market capitalization of $18.84 billion, a PE ratio of -92.46 and a beta of 1.25. MongoDB has a 52 week low of $212.74 and a 52 week high of $509.62. The company's 50 day moving average is $278.98 and its two-hundred day moving average is $269.17.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly earnings data 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. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business had revenue of $529.40 million for the quarter, compared to analysts' expectations of $497.39 million. During the same period last year, the firm posted $0.96 earnings per share. The firm's quarterly revenue was up 22.3% compared to the same quarter last year. As a group, research analysts anticipate that MongoDB will post -1.79 EPS for the current year.

Insider Buying and Selling

In related news, Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $269.57, for a total value of $808,710.00. Following the transaction, the director now directly owns 1,127,006 shares in the company, valued at $303,807,007.42. This trade represents a 0.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Cedric Pech sold 287 shares of the firm's stock in a transaction 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 completion of the transaction, the insider now directly owns 24,390 shares in the company, valued at $5,709,455.10. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,821 shares of company stock valued at $6,831,215 over the last ninety days. 3.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MongoDB

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Jennison Associates LLC boosted its stake in MongoDB by 23.6% during the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company's stock valued at $838,632,000 after purchasing an additional 592,038 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of MongoDB by 2.9% during the third quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company's stock valued at $331,776,000 after buying an additional 34,814 shares during the last quarter. Westfield Capital Management Co. LP grew its holdings in MongoDB by 1.5% during the third quarter. Westfield Capital Management Co. LP now owns 496,248 shares of the company's stock worth $134,161,000 after buying an additional 7,526 shares in the last quarter. Thrivent Financial for Lutherans raised its position in MongoDB by 1,098.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company's stock valued at $106,084,000 after buying an additional 388,979 shares during the last quarter. Finally, Holocene Advisors LP lifted its stake in MongoDB by 22.6% during the 3rd quarter. Holocene Advisors LP now owns 362,603 shares of the company's stock valued at $98,030,000 after acquiring an additional 66,730 shares in the last quarter. 89.29% of the stock is owned by institutional investors.

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.