MongoDB (NASDAQ:MDB) Shares Up 8.5% - Still a Buy?

MongoDB, Inc. (NASDAQ:MDB - Get Free Report)'s share price was up 8.5% during trading on Tuesday . The company traded as high as $197.17 and last traded at $195.62. Approximately 4,017,293 shares changed hands during mid-day trading, an increase of 140% from the average daily volume of 1,674,121 shares. The stock had previously closed at $180.32.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MDB. Scotiabank restated a "sector perform" rating and issued a $240.00 target price (down from $275.00) on shares of MongoDB in a research note on Wednesday, March 5th. Morgan Stanley lowered their price objective on shares of MongoDB from $350.00 to $315.00 and set an "overweight" rating for the company in a research report on Thursday, March 6th. Barclays reduced their target price on shares of MongoDB from $330.00 to $280.00 and set an "overweight" rating on the stock in a research report on Thursday, March 6th. Robert W. Baird lowered their price target on shares of MongoDB from $390.00 to $300.00 and set an "outperform" rating for the company in a report on Thursday, March 6th. Finally, Guggenheim raised MongoDB from a "neutral" rating to a "buy" rating and set a $300.00 price objective on the stock in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $319.87.

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MongoDB Stock Up 8.5 %

The company has a market capitalization of $14.57 billion, a P/E ratio of -71.42 and a beta of 1.30. The firm has a fifty day simple moving average of $260.61 and a 200-day simple moving average of $274.00.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its earnings results on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.45). MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company had revenue of $548.40 million for the quarter, compared to analyst estimates of $519.65 million. During the same quarter last year, the business posted $0.86 earnings per share. On average, sell-side analysts predict that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Insider Buying and Selling at MongoDB

In related news, insider Cedric Pech sold 287 shares of the 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 owns 24,390 shares in the company, valued at approximately $5,709,455.10. This represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Thomas Bull sold 169 shares of MongoDB stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total transaction of $39,561.21. Following the completion of the sale, the chief accounting officer now owns 14,899 shares in the company, valued at $3,487,706.91. The trade was a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,314 shares of company stock valued at $12,981,833 in the last 90 days. 3.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MongoDB

Hedge funds have recently modified their holdings of the stock. OneDigital Investment Advisors LLC grew its stake in MongoDB by 3.9% in the fourth quarter. OneDigital Investment Advisors LLC now owns 1,044 shares of the company's stock valued at $243,000 after purchasing an additional 39 shares in the last quarter. Hilltop National Bank boosted its holdings in shares of 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 buying an additional 42 shares during the last quarter. Avestar Capital LLC grew its stake in shares of MongoDB by 2.0% in the fourth quarter. Avestar Capital LLC now owns 2,165 shares of the company's stock valued at $504,000 after buying an additional 42 shares in the last quarter. Rakuten Securities Inc. increased its holdings in MongoDB by 16.5% during the third quarter. Rakuten Securities Inc. now owns 332 shares of the company's stock worth $90,000 after buying an additional 47 shares during the last quarter. Finally, Aigen Investment Management LP raised its position in MongoDB by 1.4% during the fourth quarter. Aigen Investment Management LP now owns 3,921 shares of the company's stock worth $913,000 after acquiring an additional 55 shares in the last quarter. Institutional investors own 89.29% of the company's stock.

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.

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