MongoDB (NASDAQ:MDB) Sees Large Volume Increase - Still a Buy?

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) shares saw strong trading volume on Friday . 1,994,344 shares changed hands during mid-day trading, an increase of 20% from the previous session's volume of 1,657,288 shares.The stock last traded at $185.47 and had previously closed at $192.98.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on MDB shares. Needham & Company LLC lowered their price objective on MongoDB from $415.00 to $270.00 and set a "buy" rating for the company in a research report on Thursday. Mizuho raised their price objective on MongoDB from $275.00 to $320.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 10th. Guggenheim upgraded MongoDB from a "neutral" rating to a "buy" rating and set a $300.00 price objective for the company in a research report on Monday, January 6th. China Renaissance started coverage on MongoDB in a research report on Tuesday, January 21st. They set a "buy" rating and a $351.00 price objective for the company. Finally, Truist Financial lowered their price objective on MongoDB from $400.00 to $300.00 and set a "buy" rating for the company in a research report on Thursday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $319.87.

MongoDB Stock Down 2.8 %

The company has a market cap of $13.97 billion, a PE ratio of -68.49 and a beta of 1.30. The company has a 50-day moving average of $261.68 and a 200-day moving average of $274.38.

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MongoDB (NASDAQ:MDB - Get Free Report) last announced its earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.45). The company 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 previous year, the firm earned $0.86 EPS. As a group, equities analysts predict that MongoDB, Inc. will post -1.78 EPS for the current year.

Insiders Place Their Bets

In other MongoDB news, CAO Thomas Bull sold 1,000 shares of the business's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $355.92, for a total value of $355,920.00. Following the transaction, the chief accounting officer now owns 15,068 shares of the company's stock, valued at approximately $5,363,002.56. The trade was a 6.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Cedric Pech sold 287 shares of the business's stock in a transaction on 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 directly owns 24,390 shares in the company, valued at approximately $5,709,455.10. This represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,314 shares of company stock valued at $13,337,753. Insiders own 3.60% of the company's stock.

Institutional Trading of MongoDB

Several hedge funds have recently made changes to their positions in MDB. US Bancorp DE raised its stake in shares of MongoDB by 9.1% in the third quarter. US Bancorp DE now owns 3,869 shares of the company's stock valued at $1,046,000 after buying an additional 324 shares during the period. Janney Montgomery Scott LLC bought a new stake in shares of MongoDB in the third quarter valued at $861,000. Principal Financial Group Inc. raised its stake in shares of MongoDB by 2.7% in the third quarter. Principal Financial Group Inc. now owns 6,095 shares of the company's stock valued at $1,648,000 after buying an additional 160 shares during the period. Atria Investments Inc raised its stake in shares of MongoDB by 6.6% in the third quarter. Atria Investments Inc now owns 2,175 shares of the company's stock valued at $588,000 after buying an additional 135 shares during the period. Finally, Covestor Ltd raised its stake in shares of MongoDB by 32.0% in the third quarter. Covestor Ltd now owns 338 shares of the company's stock valued at $91,000 after buying an additional 82 shares during the period. 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.