MongoDB (NASDAQ:MDB) Stock Price Up 5.4% – Should You Buy?

MongoDB, Inc. (NASDAQ:MDB) shares traded up 5.4% on Friday . The stock traded as high as $337.56 and last traded at $332.36. 473,438 shares traded hands during trading, a decline of 67% from the average session volume of 1,438,215 shares. The stock had previously closed at $315.44.

Wall Street Analyst Weigh In

Several equities analysts have commented on MDB shares. Wedbush raised shares of MongoDB to a “strong-buy” rating in a research report on Thursday, October 17th. Truist Financial boosted their price objective on shares of MongoDB from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Citigroup lifted their target price on shares of MongoDB from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Oppenheimer upped their price target on shares of MongoDB from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Finally, Sanford C. Bernstein boosted their price objective on MongoDB from $358.00 to $360.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $336.54.

MongoDB Price Performance

The company has a debt-to-equity ratio of 0.84, a current ratio of 5.03 and a quick ratio of 5.03. The firm has a market capitalization of $24.61 billion, a P/E ratio of -110.05 and a beta of 1.15. The company’s 50 day moving average price is $278.10 and its 200 day moving average price is $272.88.

MongoDB (NASDAQ:MDB) last released its earnings results on Thursday, August 29th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.21. The company had revenue of $478.11 million for the quarter, compared to the consensus estimate of $465.03 million. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The company’s revenue was up 12.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.63) EPS. As a group, sell-side analysts anticipate that MongoDB, Inc. will post -2.39 EPS for the current fiscal year.

Insider Activity at MongoDB

In related news, Director Dwight A. Merriman sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $290.79, for a total value of $872,370.00. Following the completion of the transaction, the director now directly owns 1,135,006 shares in the company, valued at approximately $330,048,394.74. The trade was a 0.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael Lawrence Gordon sold 5,000 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $290.31, for a total transaction of $1,451,550.00. Following the sale, the chief financial officer now directly owns 80,307 shares of the company’s stock, valued at $23,313,925.17. This represents a 5.86 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,600 shares of company stock worth $7,034,249. 3.60% of the stock is owned by insiders.

Hedge Funds Weigh In On MongoDB

Large investors have recently added to or reduced their stakes in the company. Virtu Financial LLC increased its stake in MongoDB by 351.2% in the 3rd quarter. Virtu Financial LLC now owns 10,016 shares of the company’s stock valued at $2,708,000 after buying an additional 7,796 shares during the last quarter. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of MongoDB in the third quarter valued at about $5,840,000. Toronto Dominion Bank raised its holdings in MongoDB by 21.9% during the third quarter. Toronto Dominion Bank now owns 9,462 shares of the company’s stock worth $2,558,000 after acquiring an additional 1,699 shares in the last quarter. Coldstream Capital Management Inc. bought a new position in MongoDB in the third quarter valued at approximately $209,000. Finally, Geode Capital Management LLC increased its position in shares of MongoDB by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock worth $331,776,000 after purchasing an additional 34,814 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.