MongoDB (NASDAQ:MDB) Now Covered by Rosenblatt Securities

Rosenblatt Securities started coverage on shares of MongoDB (NASDAQ:MDB - Free Report) in a report released on Tuesday morning, Marketbeat.com reports. The firm issued a buy rating and a $350.00 price objective on the stock.

Other equities analysts have also issued reports about the stock. Canaccord Genuity Group upped their price objective on shares of MongoDB from $325.00 to $385.00 and gave the stock a "buy" rating in a research note on Wednesday, December 11th. Morgan Stanley lifted their target price on MongoDB from $340.00 to $350.00 and gave the company an "overweight" rating in a research report on Tuesday, December 10th. Royal Bank of Canada boosted their price objective on MongoDB from $350.00 to $400.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 10th. Loop Capital boosted their target price on MongoDB from $315.00 to $400.00 and gave the company a "buy" rating in a report on Monday, December 2nd. Finally, Bank of America boosted their price target on shares of MongoDB from $300.00 to $350.00 and gave the stock a "buy" rating in a research note on Friday, August 30th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $365.07.

MongoDB Stock Down 0.2 %

NASDAQ MDB traded down $0.53 on Tuesday, hitting $265.10. The company's stock had a trading volume of 1,779,444 shares, compared to its average volume of 1,541,498. The company's 50-day moving average is $293.29 and its 200 day moving average is $267.30. The firm has a market cap of $19.58 billion, a PE ratio of -97.55 and a beta of 1.17. MongoDB has a 1-year low of $212.74 and a 1-year high of $509.62.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, beating analysts' consensus estimates of $0.68 by $0.48. The company had revenue of $529.40 million for the quarter, compared to analysts' expectations of $497.39 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. MongoDB's revenue was up 22.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.96 EPS. On average, equities analysts expect that MongoDB will post -2.29 EPS for the current year.

Insider Activity at MongoDB

In other news, CAO Thomas Bull sold 1,000 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $355.92, for a total value of $355,920.00. Following the sale, the chief accounting officer now owns 15,068 shares of the company's stock, valued at approximately $5,363,002.56. This represents a 6.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Michael Lawrence Gordon sold 5,000 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $290.31, for a total value of $1,451,550.00. Following the completion of the sale, the chief financial officer now owns 80,307 shares in the company, valued at approximately $23,313,925.17. The trade was a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,600 shares of company stock worth $7,611,849. 3.60% of the stock is owned by insiders.

Institutional Investors Weigh In On MongoDB

Institutional investors have recently bought and sold shares of the company. Jennison Associates LLC increased its stake in shares of MongoDB by 23.6% in the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company's stock valued at $838,632,000 after purchasing an additional 592,038 shares in the last quarter. Geode Capital Management LLC grew its position in shares of MongoDB by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company's stock valued at $331,776,000 after purchasing an additional 34,814 shares during the period. Westfield Capital Management Co. LP raised its position in shares of MongoDB by 1.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 496,248 shares of the company's stock worth $134,161,000 after purchasing an additional 7,526 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in MongoDB by 1,098.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company's stock valued at $106,084,000 after buying an additional 388,979 shares in the last quarter. Finally, Holocene Advisors LP boosted its holdings in MongoDB by 22.6% in the 3rd quarter. Holocene Advisors LP now owns 362,603 shares of the company's stock worth $98,030,000 after buying an additional 66,730 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

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.