MongoDB (NASDAQ:MDB) Upgraded to Strong-Buy at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of MongoDB (NASDAQ:MDB) to a strong-buy rating in a research report report published on Thursday morning, Marketbeat.com reports. The brokerage currently has $344.00 target price on the stock.

Other equities research analysts have also recently issued research reports about the company. Needham & Company LLC boosted their target price on MongoDB from $335.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Stifel Nicolaus increased their target price on shares of MongoDB from $325.00 to $360.00 and gave the stock a “buy” rating in a report on Monday, December 9th. DA Davidson lifted their price target on shares of MongoDB from $340.00 to $405.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Guggenheim upgraded shares of MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 price objective for the company in a research note on Monday, January 6th. Finally, Robert W. Baird raised their price objective on MongoDB from $380.00 to $390.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $363.93.

MongoDB Stock Up 2.1 %

Shares of MongoDB stock opened at $253.11 on Thursday. MongoDB has a 12 month low of $212.74 and a 12 month high of $509.62. The stock’s fifty day simple moving average is $278.24 and its 200 day simple moving average is $269.10.

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

Insider Transactions at MongoDB

In related news, insider Cedric Pech sold 287 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value of $67,183.83. Following the completion of the transaction, the insider now owns 24,390 shares of the company’s stock, valued at $5,709,455.10. The trade was a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Dwight A. Merriman sold 3,000 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $269.57, for a total transaction of $808,710.00. Following the completion of the transaction, the director now directly owns 1,127,006 shares in the company, valued at approximately $303,807,007.42. This represents a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,821 shares of company stock valued at $6,831,215. 3.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MongoDB

A number of large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its holdings in shares of MongoDB by 19.2% in the second quarter. Dimensional Fund Advisors LP now owns 111,487 shares of the company’s stock worth $27,865,000 after acquiring an additional 17,990 shares during the last quarter. AE Wealth Management LLC increased its position in MongoDB by 57.5% during the 2nd quarter. AE Wealth Management LLC now owns 5,523 shares of the company’s stock worth $1,380,000 after purchasing an additional 2,017 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its stake in MongoDB by 39.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 19,486 shares of the company’s stock valued at $4,865,000 after purchasing an additional 5,500 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in MongoDB by 1,098.1% in the second 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, Octahedron Capital Management L.P. bought a new stake in shares of MongoDB during the second quarter worth $525,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

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.