MongoDB (NASDAQ:MDB) Coverage Initiated at China Renaissance

China Renaissance initiated coverage on shares of MongoDB (NASDAQ:MDB - Free Report) in a report published on Tuesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $351.00 price target on the stock.

Several other equities research analysts also recently weighed in on MDB. Truist Financial reiterated a "buy" rating and issued a $400.00 price target (up from $320.00) on shares of MongoDB in a report on Tuesday, December 10th. DA Davidson upped their price target on shares of MongoDB from $340.00 to $405.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. Citigroup lifted their price objective on shares of MongoDB from $400.00 to $430.00 and gave the company a "buy" rating in a report on Monday, December 16th. Scotiabank upped their target price on shares of MongoDB from $295.00 to $350.00 and gave the stock a "sector perform" rating in a research note on Tuesday, December 10th. Finally, Canaccord Genuity Group lifted their price target on shares of MongoDB from $325.00 to $385.00 and gave the company a "buy" rating in a research note on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $361.00.

MongoDB Trading Up 2.3 %

Shares of NASDAQ:MDB traded up $5.93 during trading on Tuesday, reaching $259.04. The company's stock had a trading volume of 1,272,032 shares, compared to its average volume of 1,471,999. The stock has a market capitalization of $19.29 billion, a PE ratio of -94.71 and a beta of 1.25. MongoDB has a 12 month low of $212.74 and a 12 month high of $509.62. The firm's 50 day simple moving average is $277.47 and its two-hundred day simple moving average is $269.11.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its quarterly earnings data on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.48. The business had revenue of $529.40 million during the quarter, compared to analyst estimates of $497.39 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company's revenue for the quarter was up 22.3% on a year-over-year basis. During the same period last year, the company earned $0.96 EPS. Research analysts anticipate that MongoDB will post -1.79 EPS for the current fiscal year.

Insider Activity

In other news, insider Cedric Pech sold 287 shares of the business's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value of $67,183.83. Following the completion of the transaction, the insider now owns 24,390 shares of the company's stock, valued at $5,709,455.10. The trade was a 1.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Dev Ittycheria sold 2,581 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value of $604,186.29. Following the completion of the sale, the chief executive officer now owns 217,294 shares in the company, valued at approximately $50,866,352.46. This represents a 1.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,821 shares of company stock worth $6,831,215 over the last 90 days. 3.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MDB. Hilltop National Bank lifted its holdings in MongoDB by 47.2% in the 4th quarter. Hilltop National Bank now owns 131 shares of the company's stock valued at $30,000 after purchasing an additional 42 shares in the last quarter. Quarry LP increased its holdings in shares of MongoDB by 2,580.0% during the 2nd quarter. Quarry LP now owns 134 shares of the company's stock worth $33,000 after buying an additional 129 shares during the last quarter. Brooklyn Investment Group purchased a new stake in MongoDB in the third quarter valued at $36,000. GAMMA Investing LLC lifted its position in MongoDB by 178.8% in the third quarter. GAMMA Investing LLC now owns 145 shares of the company's stock valued at $39,000 after buying an additional 93 shares during the last quarter. Finally, Continuum Advisory LLC lifted its holdings in shares of MongoDB by 621.1% in the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company's stock worth $40,000 after acquiring an additional 118 shares during 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.