Mongodb (MDB) Raised to “Buy” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Mongodb (NASDAQ:MDB) from a hold rating to a buy rating in a report issued on Friday. They currently have $97.00 price target on the stock.

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. “

Other equities analysts have also issued reports about the company. Nomura lowered Mongodb from a neutral rating to a reduce rating and boosted their price target for the stock from $43.00 to $63.00 in a research report on Tuesday, October 2nd. They noted that the move was a valuation call. Barclays boosted their price target on Mongodb from $79.00 to $105.00 and gave the stock an overweight rating in a research report on Monday, September 17th. They noted that the move was a valuation call. CIBC began coverage on Mongodb in a research report on Wednesday, October 17th. They set an outperform rating and a $80.00 price target on the stock. Oppenheimer began coverage on Mongodb in a research report on Wednesday, October 17th. They set an outperform rating and a $80.00 price target on the stock. Finally, Needham & Company LLC boosted their price target on Mongodb to $97.00 and gave the stock a buy rating in a research report on Friday, December 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Mongodb currently has an average rating of Buy and an average price target of $87.31.

MDB opened at $74.48 on Friday. The company has a debt-to-equity ratio of 1.08, a current ratio of 3.41 and a quick ratio of 3.41. The stock has a market capitalization of $4.64 billion, a price-to-earnings ratio of -42.80 and a beta of -0.06. Mongodb has a 12 month low of $25.16 and a 12 month high of $93.23.

Mongodb (NASDAQ:MDB) last posted its quarterly earnings results on Tuesday, December 4th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.26. The company had revenue of $65.00 million during the quarter, compared to analysts’ expectations of $60.26 million. Mongodb had a negative return on equity of 54.80% and a negative net margin of 54.74%. The firm’s revenue was up 56.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.44) EPS. As a group, sell-side analysts forecast that Mongodb will post -2.23 EPS for the current fiscal year.

In other news, CEO Dev Ittycheria sold 19,600 shares of the business’s stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $80.30, for a total value of $1,573,880.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Whale Rock Capital Management sold 683,871 shares of the business’s stock in a transaction that occurred on Friday, November 30th. The shares were sold at an average price of $82.39, for a total value of $56,344,131.69. The disclosure for this sale can be found here. Insiders sold a total of 886,778 shares of company stock valued at $73,001,777 over the last quarter. Company insiders own 40.04% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Schwab Charles Investment Management Inc. grew its stake in Mongodb by 52.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 7,623 shares of the company’s stock worth $379,000 after buying an additional 2,623 shares during the last quarter. FMR LLC grew its stake in Mongodb by 7,986.7% during the 2nd quarter. FMR LLC now owns 2,268,485 shares of the company’s stock worth $112,585,000 after buying an additional 2,240,433 shares during the last quarter. OppenheimerFunds Inc. grew its stake in shares of Mongodb by 144.7% in the second quarter. OppenheimerFunds Inc. now owns 411,490 shares of the company’s stock worth $20,423,000 after purchasing an additional 243,350 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Mongodb in the second quarter worth $4,318,000. Finally, Macquarie Group Ltd. bought a new position in shares of Mongodb in the second quarter worth $1,951,000. Institutional investors and hedge funds own 49.02% of the company’s stock.

Mongodb Company Profile

MongoDB, Inc operates as a general purpose database platform worldwide. The company offers MongoDB Enterprise Advanced, a subscription package for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; MongoDB Atlas, a cloud-hosted database-as-a-service solution; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.

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