Daiwa America Upgrades MongoDB (NASDAQ:MDB) to Strong-Buy

Daiwa America upgraded shares of MongoDB (NASDAQ:MDB - Free Report) to a strong-buy rating in a research note published on Tuesday, April 1st,Zacks.com reports.

Several other analysts have also weighed in on MDB. Bank of America decreased their price target on MongoDB from $420.00 to $286.00 and set a "buy" rating on the stock in a report on Thursday, March 6th. Robert W. Baird dropped their price objective on MongoDB from $390.00 to $300.00 and set an "outperform" rating on the stock in a research note on Thursday, March 6th. Morgan Stanley lowered their price target 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. Tigress Financial increased their target price on shares of MongoDB from $400.00 to $430.00 and gave the company a "buy" rating in a research report on Wednesday, December 18th. Finally, Stifel Nicolaus decreased their price objective on shares of MongoDB from $425.00 to $340.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, MongoDB has a consensus rating of "Moderate Buy" and a consensus price target of $312.84.

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MongoDB Stock Up 2.0 %

MongoDB stock traded up $2.93 during midday trading on Tuesday, reaching $150.31. 1,383,610 shares of the stock traded hands, compared to its average volume of 1,768,191. The stock has a market cap of $12.20 billion, a P/E ratio of -54.87 and a beta of 1.49. The stock's fifty day moving average is $234.34 and its 200-day moving average is $260.82. MongoDB has a 12 month low of $140.78 and a 12 month high of $387.19.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.64 by ($0.45). The business had revenue of $548.40 million during 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 last year, the business posted $0.86 earnings per share. On average, equities analysts predict that MongoDB will post -1.78 EPS for the current fiscal year.

Insider Activity at MongoDB

In related news, CAO Thomas Bull sold 301 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $173.25, for a total value of $52,148.25. Following the transaction, the chief accounting officer now directly owns 14,598 shares in the company, valued at approximately $2,529,103.50. This represents a 2.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Dwight A. Merriman sold 1,045 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $242.67, for a total value of $253,590.15. Following the transaction, the director now owns 85,652 shares of the company's stock, valued at approximately $20,785,170.84. This represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,060 shares of company stock valued at $13,461,875. Corporate 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. Strategic Investment Solutions Inc. IL acquired a new position in shares of MongoDB during the fourth quarter worth about $29,000. Hilltop National Bank grew its position in shares of MongoDB by 47.2% during the fourth quarter. Hilltop National Bank now owns 131 shares of the company's stock worth $30,000 after acquiring an additional 42 shares during the last quarter. NCP Inc. purchased a new position in MongoDB during the 4th quarter worth $35,000. Continuum Advisory LLC lifted its position in MongoDB by 621.1% during 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 period. Finally, Versant Capital Management Inc increased its stake in MongoDB by 1,100.0% in the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company's stock valued at $42,000 after buying an additional 165 shares during the period. Institutional investors and hedge funds 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.