MongoDB (NASDAQ:MDB) Now Covered by Analysts at China Renaissance

Stock analysts at China Renaissance initiated coverage on shares of MongoDB (NASDAQ:MDB) in a research note issued on Tuesday, MarketBeat reports. The brokerage set a “buy” rating and a $351.00 price target on the stock. China Renaissance’s price objective suggests a potential upside of 34.64% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Mizuho upped their target price on shares of MongoDB from $275.00 to $320.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Royal Bank of Canada increased their target price on shares of MongoDB from $350.00 to $400.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Loop Capital lifted their target price on MongoDB from $315.00 to $400.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Cantor Fitzgerald initiated coverage on MongoDB in a report on Friday, January 17th. They set an “overweight” rating and a $344.00 price objective on the stock. Finally, 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. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $361.00.

MongoDB Price Performance

Shares of MDB opened at $260.70 on Tuesday. The company has a market capitalization of $19.41 billion, a PE ratio of -95.15 and a beta of 1.25. MongoDB has a one year low of $212.74 and a one year high of $509.62. The company’s fifty day moving average price is $276.80 and its 200 day moving average price is $269.05.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.48. The business had revenue of $529.40 million during the quarter, compared to analysts’ expectations of $497.39 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The firm’s revenue was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.96 EPS. Analysts anticipate that MongoDB will post -1.79 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction on Monday, November 4th. The stock was sold at an average price of $269.57, for a total value of $808,710.00. Following the completion of the sale, the director now directly owns 1,127,006 shares of the company’s stock, valued at approximately $303,807,007.42. This trade represents a 0.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Thomas Bull sold 1,000 shares of the company’s 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 transaction, the chief accounting officer now directly owns 15,068 shares in the company, valued at $5,363,002.56. This trade represents a 6.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,156 shares of company stock worth $8,955,473 in the last 90 days. Corporate insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

Several large investors have recently bought and sold shares of MDB. Hilltop National Bank lifted its stake in MongoDB by 47.2% in the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock valued at $30,000 after buying an additional 42 shares during the period. Quarry LP increased its stake in shares of 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. Brooklyn Investment Group acquired a new stake in shares of MongoDB in the 3rd quarter valued at approximately $36,000. GAMMA Investing LLC boosted its stake in MongoDB by 178.8% during the 3rd quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock worth $39,000 after acquiring an additional 93 shares during the last quarter. Finally, Continuum Advisory LLC grew its holdings in MongoDB by 621.1% during the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after purchasing an additional 118 shares during the period. 89.29% of the stock is currently owned by institutional investors and hedge funds.

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.