Mongodb (NASDAQ:MDB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Saturday. The firm currently has a $33.00 price objective on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 12.70% from the stock’s current price.

According to Zacks, “MongoDB, Inc. provides general purpose database platform. Its products include MongoDB Enterprise Advanced, MongoDB Enterprise for OEM, MongoDB Professional, MongoDB Stitch, MongoDB Atlas, Development Support, Ops Manager, Cloud Manager, Compass, Connector for business intelligence, and Connector for Spark. The company serves financial services, government, healthcare, media and entertainment, retail, technology and telecommunications industries. MongoDB, Inc. is headquartered in New York. “

A number of other research firms have also recently weighed in on MDB. Morgan Stanley began coverage on shares of Mongodb in a report on Monday, November 13th. They issued an “equal weight” rating and a $31.00 price objective for the company. Stifel Nicolaus began coverage on shares of Mongodb in a report on Monday, November 13th. They issued a “buy” rating and a $34.00 price objective for the company. Canaccord Genuity began coverage on shares of Mongodb in a report on Monday, November 13th. They issued a “buy” rating and a $35.00 price objective for the company. JMP Securities began coverage on shares of Mongodb in a report on Monday, November 13th. They issued a “market perform” rating for the company. Finally, Goldman Sachs Group began coverage on shares of Mongodb in a report on Monday, November 13th. They issued a “neutral” rating and a $30.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Mongodb presently has a consensus rating of “Buy” and an average price target of $33.71.

Shares of Mongodb (NASDAQ MDB) traded down $0.33 during trading on Friday, hitting $29.28. 108,400 shares of the company traded hands, compared to its average volume of 186,256. Mongodb has a 12-month low of $24.62 and a 12-month high of $34.00.

Mongodb (NASDAQ:MDB) last released its quarterly earnings data on Tuesday, December 12th. The company reported ($1.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.90). The business had revenue of $41.50 million for the quarter, compared to the consensus estimate of $37.21 million. Mongodb’s revenue was up 57.8% on a year-over-year basis. analysts forecast that Mongodb will post -1.77 EPS for the current year.

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About Mongodb

MongoDB, Inc is a modern, general purpose database platform. Its platform is designed to run applications at scale across a broad range of use cases in the cloud, on-premise or in a hybrid environment. Its primary subscription package is MongoDB Enterprise Advanced, which includes its proprietary database server, security, enterprise management capabilities, its graphical user interface, analytics integrations and technical support.

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