MongoDB (NASDAQ:MDB) Upgraded by Guggenheim to Buy Rating

Guggenheim upgraded shares of MongoDB (NASDAQ:MDB) from a neutral rating to a buy rating in a report published on Monday, Marketbeat reports. They currently have $300.00 price target on the stock.

MDB has been the subject of a number of other research reports. Piper Sandler reaffirmed an “overweight” rating and set a $425.00 price objective on shares of MongoDB in a research report on Tuesday, December 10th. DA Davidson lifted their price target on MongoDB from $340.00 to $405.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Monness Crespi & Hardt downgraded shares of MongoDB from a “neutral” rating to a “sell” rating and set a $220.00 price objective on the stock. in a research report on Monday, December 16th. Barclays lifted their target price on shares of MongoDB from $375.00 to $400.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Finally, Loop Capital increased their price target on shares of MongoDB from $315.00 to $400.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $367.14.

MongoDB Trading Up 2.6 %

Shares of MongoDB stock opened at $252.86 on Monday. MongoDB has a 12 month low of $212.74 and a 12 month high of $509.62. The firm has a market capitalization of $18.83 billion, a P/E ratio of -92.28 and a beta of 1.25. The business has a fifty day simple moving average of $284.11 and a two-hundred day simple moving average of $269.17.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.48. The company had revenue of $529.40 million during 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% on a year-over-year basis. During the same period last year, the company posted $0.96 EPS. Analysts predict that MongoDB will post -1.86 earnings per share for the current year.

Insider Buying and Selling

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 completion of the sale, the chief accounting officer now directly owns 15,068 shares of the company’s stock, valued at $5,363,002.56. This represents a 6.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Cedric Pech sold 287 shares of MongoDB stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total transaction of $67,183.83. Following the transaction, the insider now owns 24,390 shares in the company, valued at approximately $5,709,455.10. This trade represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,161 shares of company stock valued at $8,700,776. 3.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On MongoDB

Several large investors have recently made changes to their positions in MDB. Aigen Investment Management LP bought a new stake in MongoDB during the 3rd quarter valued at approximately $1,045,000. Geode Capital Management LLC raised its position in shares of MongoDB by 2.9% during the third quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock valued at $331,776,000 after buying an additional 34,814 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of MongoDB in the third quarter worth $4,366,000. Charles Schwab Investment Management Inc. boosted its position in shares of MongoDB by 2.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 278,419 shares of the company’s stock worth $75,271,000 after acquiring an additional 7,575 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in MongoDB during the second quarter valued at $1,860,000. 89.29% of the stock is currently owned by hedge funds and other 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.