MongoDB (NASDAQ:MDB) Upgraded by Redburn Atlantic to "Neutral" Rating

Redburn Atlantic upgraded shares of MongoDB (NASDAQ:MDB - Free Report) from a sell rating to a neutral rating in a research report report published on Thursday, Marketbeat Ratings reports. The brokerage currently has $170.00 target price on the stock.

Other research analysts also recently issued reports about the stock. Scotiabank reissued a "sector perform" rating and set a $240.00 price objective (down from $275.00) on shares of MongoDB in a research report on Wednesday, March 5th. Wedbush lowered their target price on MongoDB from $360.00 to $300.00 and set an "outperform" rating on the stock in a research note on Thursday, March 6th. Barclays decreased their price target on MongoDB from $330.00 to $280.00 and set an "overweight" rating for the company in a report on Thursday, March 6th. Mizuho reduced their target price on shares of MongoDB from $250.00 to $190.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Finally, Wells Fargo & Company cut shares of MongoDB from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $365.00 to $225.00 in a report on Thursday, March 6th. Eight equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, MongoDB currently has an average rating of "Moderate Buy" and an average price target of $299.78.

MongoDB Price Performance

Shares of NASDAQ MDB traded up $0.16 during mid-day trading on Thursday, hitting $151.83. The company had a trading volume of 1,684,942 shares, compared to its average volume of 1,816,550. MongoDB has a 1-year low of $140.78 and a 1-year high of $387.19. The company has a market capitalization of $12.33 billion, a PE ratio of -55.38 and a beta of 1.49. The business's 50-day simple moving average is $205.34 and its 200 day simple moving average is $251.62.

MongoDB (NASDAQ:MDB - Get Free Report) last released its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing analysts' consensus estimates of $0.64 by ($0.45). MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business had revenue of $548.40 million during the quarter, compared to analysts' expectations of $519.65 million. During the same quarter in the previous year, the company posted $0.86 EPS. On average, analysts expect that MongoDB will post -1.78 EPS for the current year.

Insider Transactions at MongoDB

In related news, Director Dwight A. Merriman sold 885 shares of MongoDB stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $292.05, for a total value of $258,464.25. Following the completion of the sale, the director now owns 83,845 shares in the company, valued at approximately $24,486,932.25. The trade was a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Srdjan Tanjga sold 525 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total transaction of $90,961.50. Following the completion of the sale, the chief financial officer now owns 6,406 shares in the company, valued at approximately $1,109,903.56. This trade represents a 7.57 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,680 shares of company stock valued at $10,819,027. Corporate insiders own 3.60% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of MongoDB by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 7,328,745 shares of the company's stock worth $1,706,205,000 after acquiring an additional 23,942 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of MongoDB by 9.7% in the 4th quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company's stock worth $478,398,000 after buying an additional 181,962 shares in the last quarter. Geode Capital Management LLC boosted its stake in MongoDB by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 1,252,142 shares of the company's stock valued at $290,987,000 after buying an additional 22,106 shares in the last quarter. First Trust Advisors LP grew its stake in shares of MongoDB by 12.6% in the 4th quarter. First Trust Advisors LP now owns 854,906 shares of the company's stock worth $199,031,000 after purchasing an additional 95,893 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of MongoDB in the 4th quarter worth approximately $189,584,000. 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.