Wedbush Upgrades MongoDB (NASDAQ:MDB) to “Strong-Buy”

MongoDB (NASDAQ:MDB) was upgraded by analysts at Wedbush to a “strong-buy” rating in a research note issued to investors on Thursday, Zacks.com reports.

A number of other research firms also recently issued reports on MDB. UBS Group boosted their price target on MongoDB from $250.00 to $275.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. JMP Securities restated a “market outperform” rating and set a $380.00 price target on shares of MongoDB in a research note on Friday, August 30th. Wells Fargo & Company boosted their price target on MongoDB from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Piper Sandler boosted their price target on MongoDB from $300.00 to $335.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $350.00 price target on shares of MongoDB in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, MongoDB presently has an average rating of “Moderate Buy” and a consensus target price of $337.96.

MongoDB Price Performance

Shares of NASDAQ:MDB opened at $275.54 on Thursday. MongoDB has a 1-year low of $212.74 and a 1-year high of $509.62. The business has a fifty day moving average price of $270.35 and a 200-day moving average price of $285.43. The company has a market capitalization of $20.21 billion, a PE ratio of -98.06 and a beta of 1.15. The company has a debt-to-equity ratio of 0.84, a current ratio of 5.03 and a quick ratio of 5.03.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Thursday, August 29th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.49 by $0.21. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. The company had revenue of $478.11 million during the quarter, compared to the consensus estimate of $465.03 million. During the same period last year, the company earned ($0.63) EPS. MongoDB’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, equities analysts expect that MongoDB will post -2.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other MongoDB news, CFO Michael Lawrence Gordon sold 5,000 shares of MongoDB 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 sale, the chief financial officer now owns 80,307 shares of the company’s stock, valued at $23,313,925.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Dwight A. Merriman sold 1,385 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $287.82, for a total transaction of $398,630.70. Following the transaction, the director now owns 89,063 shares of the company’s stock, valued at approximately $25,634,112.66. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Michael Lawrence Gordon sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $290.31, for a total value of $1,451,550.00. Following the transaction, the chief financial officer now directly owns 80,307 shares in the company, valued at approximately $23,313,925.17. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,281 shares of company stock valued at $6,310,411 in the last quarter. 3.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MongoDB

Several large investors have recently modified their holdings of MDB. MFA Wealth Advisors LLC bought a new position in MongoDB in the 2nd quarter valued at $25,000. J.Safra Asset Management Corp grew its position in MongoDB by 682.4% in the 2nd quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock valued at $33,000 after acquiring an additional 116 shares during the last quarter. Quarry LP grew its position in MongoDB by 2,580.0% in the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock valued at $33,000 after acquiring an additional 129 shares during the last quarter. Hantz Financial Services Inc. bought a new position in MongoDB in the 2nd quarter valued at $35,000. Finally, GAMMA Investing LLC grew its position in MongoDB by 178.8% in the 3rd quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock valued at $39,000 after acquiring an additional 93 shares during 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.