MongoDB (NASDAQ:MDB) Now Covered by Analysts at Daiwa Capital Markets

Daiwa Capital Markets began coverage on shares of MongoDB (NASDAQ:MDB) in a research note published on Tuesday morning, MarketBeat.com reports. The brokerage issued an outperform rating and a $202.00 price target on the stock.

Other equities analysts have also issued research reports about the company. Citigroup reduced their price objective on MongoDB from $430.00 to $330.00 and set a “buy” rating on the stock in a research note on Tuesday. Needham & Company LLC decreased their price objective on shares of MongoDB from $415.00 to $270.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Morgan Stanley lowered their price objective on shares of MongoDB from $350.00 to $315.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Barclays reduced their target price on shares of MongoDB from $330.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. Finally, Scotiabank reissued a “sector perform” rating and issued a $240.00 price target (down previously from $275.00) on shares of MongoDB in a report on Wednesday, March 5th. Seven investment 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. According to data from MarketBeat, MongoDB presently has an average rating of “Moderate Buy” and a consensus target price of $312.84.

MongoDB Stock Performance

MDB opened at $163.34 on Tuesday. MongoDB has a twelve month low of $160.29 and a twelve month high of $387.19. The firm has a market cap of $13.26 billion, a price-to-earnings ratio of -59.61 and a beta of 1.49. The firm’s 50-day simple moving average is $238.83 and its 200-day simple moving average is $263.02.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.45). The firm had revenue of $548.40 million for the quarter, compared to the consensus estimate of $519.65 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. During the same period in the prior year, the company posted $0.86 earnings per share. As a group, sell-side analysts anticipate that MongoDB will post -1.78 EPS for the current fiscal year.

Insider Buying and Selling at MongoDB

In other MongoDB news, Director Hope F. Cochran sold 1,175 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $174.69, for a total transaction of $205,260.75. Following the completion of the transaction, the director now owns 19,333 shares of the company’s stock, valued at $3,377,281.77. This represents a 5.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Dwight A. Merriman sold 885 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $292.05, for a total transaction of $258,464.25. Following the transaction, the director now directly owns 83,845 shares of the company’s stock, valued at $24,486,932.25. This represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,032 shares of company stock valued at $9,818,567. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Strategic Investment Solutions Inc. IL bought a new position in shares of MongoDB in the 4th quarter valued at about $29,000. Hilltop National Bank raised its holdings in MongoDB by 47.2% during the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after acquiring an additional 42 shares in the last quarter. NCP Inc. acquired a new position in MongoDB during the fourth quarter valued at approximately $35,000. Continuum Advisory LLC grew its stake in MongoDB by 621.1% in 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 in the last quarter. Finally, Versant Capital Management Inc increased its holdings in MongoDB by 1,100.0% during the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock worth $42,000 after buying an additional 165 shares during the last quarter. Institutional investors and hedge funds 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.