Monness Crespi & Hardt Upgrades MongoDB (NASDAQ:MDB) to Neutral

MongoDB (NASDAQ:MDB - Get Free Report) was upgraded by Monness Crespi & Hardt from a "sell" rating to a "neutral" rating in a report issued on Monday, Marketbeat reports.

Several other brokerages also recently weighed in 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. Rosenblatt Securities initiated coverage on shares of MongoDB in a research report on Tuesday, December 17th. They issued a "buy" rating and a $350.00 price objective for the company. Oppenheimer lifted their target price on MongoDB from $350.00 to $400.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 10th. China Renaissance started coverage on MongoDB in a research note on Tuesday, January 21st. They issued a "buy" rating and a $351.00 price target on the stock. Finally, Truist Financial restated a "buy" rating and set a $400.00 price objective (up previously from $320.00) on shares of MongoDB in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $322.61.

MongoDB Stock Performance

Shares of MDB traded down $71.15 during trading hours on Monday, hitting $192.98. The stock had a trading volume of 14,182,532 shares, compared to its average volume of 1,654,025. MongoDB has a 12-month low of $192.88 and a 12-month high of $424.00. The firm has a market cap of $14.37 billion, a P/E ratio of -70.43 and a beta of 1.30. The company's fifty day simple moving average is $263.70 and its 200 day simple moving average is $275.28.

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MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly 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). The firm had revenue of $548.40 million for the quarter, compared to analyst estimates of $519.65 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. During the same quarter in the prior year, the company earned $0.86 earnings per share. As a group, sell-side analysts predict that MongoDB will post -1.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In other MongoDB news, Director Dwight A. Merriman sold 3,000 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $270.63, for a total value of $811,890.00. Following the completion of the sale, the director now directly owns 1,109,006 shares in the company, valued at $300,130,293.78. This represents a 0.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 completion of the sale, the chief accounting officer now directly owns 15,068 shares in the company, valued at $5,363,002.56. This represents a 6.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,314 shares of company stock valued at $13,337,753 in the last three months. 3.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MongoDB

Hedge funds and other institutional investors have recently bought and sold shares of the business. Strategic Investment Solutions Inc. IL acquired a new position in shares of MongoDB in the 4th quarter worth approximately $29,000. Hilltop National Bank boosted its holdings in MongoDB by 47.2% during the fourth quarter. Hilltop National Bank now owns 131 shares of the company's stock worth $30,000 after buying an additional 42 shares in the last quarter. NCP Inc. acquired a new position in MongoDB in the fourth quarter worth approximately $35,000. Brooklyn Investment Group acquired a new position in MongoDB in the third quarter worth approximately $36,000. Finally, Continuum Advisory LLC increased its holdings in shares of MongoDB by 621.1% in the third quarter. Continuum Advisory LLC now owns 137 shares of the company's stock valued at $40,000 after buying an additional 118 shares in the last quarter. 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.