MongoDB (NASDAQ:MDB) Stock Rating Upgraded by Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of MongoDB (NASDAQ:MDB - Free Report) to a strong-buy rating in a research report report published on Thursday morning, MarketBeat.com reports. They currently have $344.00 price target on the stock.

Several other equities research analysts have also recently commented on MDB. Piper Sandler restated an "overweight" rating and issued a $425.00 target price on shares of MongoDB in a research note on Tuesday, December 10th. Wells Fargo & Company increased their target price on shares of MongoDB from $350.00 to $425.00 and gave the stock an "overweight" rating in a report on Tuesday, December 10th. Morgan Stanley lifted their price target on shares of MongoDB from $340.00 to $350.00 and gave the company an "overweight" rating in a research note on Tuesday, December 10th. Citigroup boosted their price target on shares of MongoDB from $400.00 to $430.00 and gave the stock a "buy" rating in a research report on Monday, December 16th. Finally, Rosenblatt Securities initiated coverage on MongoDB in a report on Tuesday, December 17th. They issued a "buy" rating and a $350.00 price objective for the company. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $363.93.

MongoDB Price Performance

MDB traded up $5.15 during mid-day trading on Thursday, hitting $253.11. The stock had a trading volume of 1,399,732 shares, compared to its average volume of 2,029,037. The stock's fifty day simple moving average is $278.24 and its 200-day simple moving average is $269.17. The firm has a market capitalization of $18.85 billion, a price-to-earnings ratio of -92.38 and a beta of 1.25. MongoDB has a 1-year low of $212.74 and a 1-year high of $509.62.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly earnings results on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.48. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company had revenue of $529.40 million during the quarter, compared to the consensus estimate of $497.39 million. During the same period in the prior year, the company earned $0.96 earnings per share. The company's revenue for the quarter was up 22.3% compared to the same quarter last year. As a group, research analysts expect that MongoDB will post -1.79 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 that occurred on Monday, January 13th. The shares were sold at an average price of $242.67, for a total value of $253,590.15. Following the sale, 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 document filed with the SEC, which is available through this hyperlink. Also, insider Cedric Pech sold 287 shares of the business'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 transaction, the insider now owns 24,390 shares of the company's stock, 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. In the last ninety days, insiders have sold 24,821 shares of company stock worth $6,831,215. 3.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MongoDB

Several hedge funds have recently bought and sold shares of MDB. Jennison Associates LLC increased its position in shares of 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. Thrivent Financial for Lutherans boosted 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 worth $106,084,000 after buying an additional 388,979 shares in the last quarter. Assenagon Asset Management S.A. grew its position in MongoDB by 11,057.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 296,889 shares of the company's stock valued at $69,119,000 after acquiring an additional 294,228 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of MongoDB during the second quarter worth approximately $52,131,000. Finally, Avala Global LP bought a new stake in shares of MongoDB in the 3rd quarter worth approximately $47,960,000. 89.29% of the stock is currently 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.