MongoDB (NASDAQ:MDB) Coverage Initiated at Loop Capital

Loop Capital assumed coverage on shares of MongoDB (NASDAQ:MDB) in a report issued on Tuesday morning, Marketbeat.com reports. The firm issued a buy rating and a $415.00 target price on the stock.

Several other brokerages have also recently issued reports on MDB. Truist Financial lifted their target price on MongoDB from $440.00 to $500.00 and gave the stock a buy rating in a report on Tuesday, February 20th. DA Davidson upgraded MongoDB from a neutral rating to a buy rating and lifted their price target for the stock from $405.00 to $430.00 in a research report on Friday, March 8th. Redburn Atlantic reiterated a sell rating and issued a $295.00 price target (down previously from $410.00) on shares of MongoDB in a research report on Tuesday, March 19th. Tigress Financial lifted their price target on MongoDB from $495.00 to $500.00 and gave the stock a buy rating in a research report on Thursday, March 28th. Finally, Citigroup boosted their target price on MongoDB from $515.00 to $550.00 and gave the company a buy rating in a research report on Wednesday, March 6th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $443.86.

MongoDB Price Performance

NASDAQ MDB opened at $366.13 on Tuesday. The company has a current ratio of 4.40, a quick ratio of 4.40 and a debt-to-equity ratio of 1.07. The business’s fifty day moving average is $381.23 and its 200 day moving average is $390.50. MongoDB has a fifty-two week low of $215.56 and a fifty-two week high of $509.62.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings results on Thursday, March 7th. The company reported ($1.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.32). The business had revenue of $458.00 million for the quarter, compared to the consensus estimate of $431.99 million. MongoDB had a negative net margin of 10.49% and a negative return on equity of 16.22%. Research analysts forecast that MongoDB will post -2.53 EPS for the current fiscal year.

Insider Activity at MongoDB

In related news, CFO Michael Lawrence Gordon sold 10,000 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $469.84, for a total value of $4,698,400.00. Following the transaction, the chief financial officer now directly owns 70,985 shares of the company’s stock, valued at approximately $33,351,592.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Michael Lawrence Gordon sold 10,000 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $469.84, for a total value of $4,698,400.00. Following the transaction, the chief financial officer now directly owns 70,985 shares of the company’s stock, valued at approximately $33,351,592.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CRO Cedric Pech sold 1,430 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $348.11, for a total transaction of $497,797.30. Following the completion of the sale, the executive now directly owns 45,444 shares in the company, valued at $15,819,510.84. The disclosure for this sale can be found here. Insiders have sold a total of 91,802 shares of company stock valued at $35,936,911 in the last ninety days. Company insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On MongoDB

Several hedge funds have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in MongoDB by 1.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,706 shares of the company’s stock valued at $4,916,000 after purchasing an additional 134 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in MongoDB by 0.7% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 14,987 shares of the company’s stock valued at $5,375,000 after purchasing an additional 100 shares during the last quarter. Whalen Wealth Management Inc. purchased a new stake in MongoDB in the first quarter valued at $227,000. Newbridge Financial Services Group Inc. grew its position in shares of MongoDB by 24.6% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 1,115 shares of the company’s stock valued at $400,000 after acquiring an additional 220 shares during the period. Finally, Simplicity Wealth LLC acquired a new stake in shares of MongoDB during the 1st quarter valued at about $389,000. 89.29% of the stock is owned by hedge funds and other institutional investors.

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.