MongoDB's (MDB) Buy Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of MongoDB (NASDAQ:MDB - Free Report) in a report published on Tuesday,Benzinga reports. They currently have a $350.00 price objective on the stock.

Several other brokerages also recently commented on MDB. JMP Securities restated a "market outperform" rating and issued a $380.00 price objective on shares of MongoDB in a research report on Wednesday, December 11th. Piper Sandler reissued an "overweight" rating and issued a $425.00 price target on shares of MongoDB in a report on Tuesday, December 10th. Royal Bank of Canada upped their price target on MongoDB from $350.00 to $400.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 10th. Guggenheim upgraded shares of MongoDB from a "neutral" rating to a "buy" rating and set a $300.00 price objective on the stock in a research report on Monday, January 6th. Finally, Tigress Financial upped their target price on shares of MongoDB from $400.00 to $430.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have given a buy rating to the company's stock. Based on data from MarketBeat, MongoDB currently has an average rating of "Moderate Buy" and a consensus price target of $319.87.

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MongoDB Price Performance

Shares of NASDAQ:MDB traded down $5.33 during mid-day trading on Tuesday, reaching $187.65. 5,777,748 shares of the company traded hands, compared to its average volume of 1,671,463. The company's 50 day moving average price is $262.69 and its 200-day moving average price is $274.71. The firm has a market cap of $13.97 billion, a PE ratio of -68.49 and a beta of 1.30. MongoDB has a 52 week low of $181.34 and a 52 week high of $413.87.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share 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 analysts' expectations of $519.65 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. During the same period in the prior year, the firm earned $0.86 EPS. On average, research analysts predict that MongoDB will post -1.78 earnings per share for the current fiscal year.

Insider Transactions at MongoDB

In related news, Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $270.63, for a total value of $811,890.00. Following the sale, the director now directly owns 1,109,006 shares of the company's stock, valued at $300,130,293.78. This represents a 0.27 % 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 that occurred on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total value 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,314 shares of company stock worth $13,337,753. 3.60% of the stock is currently owned by insiders.

Institutional Trading of MongoDB

Several institutional investors and hedge funds have recently made changes to their positions in MDB. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of MongoDB in the fourth quarter worth about $13,270,000. Azzad Asset Management Inc. ADV lifted its holdings in MongoDB by 17.7% during the 4th quarter. Azzad Asset Management Inc. ADV now owns 7,519 shares of the company's stock valued at $1,750,000 after buying an additional 1,132 shares in the last quarter. Infinitum Asset Management LLC purchased a new stake in MongoDB in the 4th quarter valued at about $8,148,000. Polar Asset Management Partners Inc. bought a new position in MongoDB in the 4th quarter worth about $14,458,000. Finally, Mackenzie Financial Corp increased its position in shares of MongoDB by 47.8% during the fourth quarter. Mackenzie Financial Corp now owns 5,731 shares of the company's stock worth $1,334,000 after acquiring an additional 1,854 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.