MongoDB (NASDAQ:MDB) Raised to “Strong-Buy” at Cantor Fitzgerald

MongoDB (NASDAQ:MDB) was upgraded by stock analysts at Cantor Fitzgerald to a “strong-buy” rating in a report issued on Thursday, Marketbeat reports. The firm presently has a $344.00 price target on the stock. Cantor Fitzgerald’s price target would suggest a potential upside of 35.91% from the company’s previous close.

A number of other analysts also recently weighed in on the company. Wells Fargo & Company boosted their target price on MongoDB from $350.00 to $425.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Guggenheim raised 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. Monness Crespi & Hardt cut shares of MongoDB from a “neutral” rating to a “sell” rating and set a $220.00 target price on the stock. in a research report on Monday, December 16th. Truist Financial restated a “buy” rating and set a $400.00 price target (up from $320.00) on shares of MongoDB in a research report on Tuesday, December 10th. Finally, Citigroup lifted their price objective on MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Two analysts have rated the stock with a sell rating, four have given a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $363.93.

MongoDB Stock Performance

MongoDB stock opened at $253.11 on Thursday. The business has a 50-day simple moving average of $278.24 and a 200 day simple moving average of $269.10. MongoDB has a 52 week low of $212.74 and a 52 week high of $509.62.

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. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The company had revenue of $529.40 million for the quarter, compared to analysts’ expectations of $497.39 million. During the same period in the prior year, the business earned $0.96 earnings per share. MongoDB’s revenue for the quarter was up 22.3% compared to the same quarter last year. Analysts forecast that MongoDB will post -1.79 EPS for the current fiscal year.

Insider Activity at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 3,000 shares of the business’s 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 sale, the director now directly owns 1,127,006 shares of the company’s stock, valued at approximately $303,807,007.42. The trade was a 0.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Dev Ittycheria sold 2,581 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total value of $604,186.29. Following the transaction, the chief executive officer now owns 217,294 shares of the company’s stock, valued at $50,866,352.46. The trade was a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,821 shares of company stock valued at $6,831,215 in the last three months. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

Several institutional investors and hedge funds have recently made changes to their positions in the company. Hilltop National Bank increased its holdings in MongoDB by 47.2% in the 4th quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after buying an additional 42 shares in the last quarter. Quarry LP grew its stake in shares of MongoDB by 2,580.0% in the second quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after acquiring an additional 129 shares during the period. Brooklyn Investment Group purchased a new position in shares of MongoDB during the third quarter valued at approximately $36,000. GAMMA Investing LLC lifted its position in MongoDB by 178.8% during the third quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock valued at $39,000 after purchasing an additional 93 shares during the period. Finally, Continuum Advisory LLC boosted its holdings in MongoDB by 621.1% in the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock worth $40,000 after purchasing an additional 118 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.