MongoDB (NASDAQ:MDB) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of MongoDB (NASDAQ:MDB) from a buy rating to a hold rating in a research report report published on Saturday morning.

Several other equities analysts also recently weighed in on MDB. Bank of America restated a “buy” rating on shares of MongoDB in a report on Tuesday, March 3rd. Robert W. Baird reissued a “neutral” rating and set a $260.00 price objective (down from $500.00) on shares of MongoDB in a research report on Tuesday, March 3rd. Zacks Research lowered shares of MongoDB from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 2nd. Sanford C. Bernstein cut shares of MongoDB from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 3rd. Finally, DA Davidson dropped their target price on shares of MongoDB from $465.00 to $385.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $354.18.

MongoDB Stock Up 0.5%

MongoDB stock opened at $271.74 on Friday. The company has a market capitalization of $22.12 billion, a P/E ratio of -308.80, a PEG ratio of 403.42 and a beta of 1.40. The stock’s 50 day moving average is $366.04 and its 200 day moving average is $353.30. MongoDB has a twelve month low of $140.78 and a twelve month high of $444.72.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Monday, March 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.18. MongoDB had a negative return on equity of 1.03% and a negative net margin of 2.89%.The business had revenue of $695.07 million during the quarter, compared to analysts’ expectations of $669.40 million. During the same quarter in the previous year, the business earned $1.28 earnings per share. The firm’s quarterly revenue was up 26.8% compared to the same quarter last year. As a group, equities analysts expect that MongoDB will post -1.78 EPS for the current year.

Insiders Place Their Bets

In other MongoDB news, Director Hope F. Cochran sold 1,566 shares of the business’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $421.85, for a total transaction of $660,617.10. Following the completion of the sale, the director owned 25,659 shares of the company’s stock, valued at approximately $10,824,249.15. The trade was a 5.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Dwight A. Merriman sold 10,000 shares of the company’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $417.83, for a total value of $4,178,300.00. Following the completion of the sale, the director owned 1,041,316 shares of the company’s stock, valued at approximately $435,093,064.28. The trade was a 0.95% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 31,949 shares of company stock worth $13,159,930. 3.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MDB. Cornerstone Planning Group LLC raised its stake in MongoDB by 1,220.0% during the 4th quarter. Cornerstone Planning Group LLC now owns 66 shares of the company’s stock worth $27,000 after acquiring an additional 61 shares during the period. Central Pacific Bank Trust Division purchased a new stake in shares of MongoDB in the fourth quarter worth $28,000. Huntington National Bank increased its stake in shares of MongoDB by 110.9% in the third quarter. Huntington National Bank now owns 97 shares of the company’s stock worth $30,000 after purchasing an additional 51 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of MongoDB during the 4th quarter valued at $33,000. Finally, Montag A & Associates Inc. lifted its stake in shares of MongoDB by 144.3% during the 2nd quarter. Montag A & Associates Inc. now owns 171 shares of the company’s stock valued at $36,000 after buying an additional 101 shares in the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

About MongoDB

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.