Mongodb (MDB) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research cut shares of Mongodb (NASDAQ:MDB) from a strong-buy rating to a hold rating in a report issued on Wednesday, Zacks.com reports.

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 analysts have also recently issued research reports about the stock. Stifel Nicolaus increased their price target on shares of Mongodb from $95.00 to $130.00 and gave the stock a buy rating in a research note on Thursday, March 14th. DA Davidson restated a neutral rating on shares of Mongodb in a research note on Thursday, March 14th. Needham & Company LLC restated a buy rating and issued a $130.00 target price (up previously from $108.00) on shares of Mongodb in a research note on Thursday, March 14th. Canaccord Genuity raised their target price on shares of Mongodb from $95.00 to $125.00 and gave the stock a buy rating in a research note on Thursday, March 14th. Finally, KeyCorp raised their target price on shares of Mongodb from $100.00 to $150.00 and gave the stock an overweight rating in a research note on Thursday, March 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. Mongodb currently has an average rating of Buy and a consensus price target of $112.69.

NASDAQ:MDB traded up $8.36 during trading hours on Wednesday, reaching $146.80. 84,235 shares of the company’s stock were exchanged, compared to its average volume of 1,403,511. The stock has a market cap of $7.83 billion, a P/E ratio of -85.03 and a beta of -0.01. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.44 and a quick ratio of 3.44. Mongodb has a 1-year low of $40.61 and a 1-year high of $154.80.

Mongodb (NASDAQ:MDB) last issued its quarterly earnings results on Wednesday, March 13th. The company reported ($0.36) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.56) by $0.20. The firm had revenue of $83.10 million during the quarter, compared to analysts’ expectations of $74.02 million. Mongodb had a negative net margin of 44.47% and a negative return on equity of 49.90%. Mongodb’s quarterly revenue was up 84.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.40) EPS. Sell-side analysts expect that Mongodb will post -1.99 EPS for the current fiscal year.

In related news, CEO Dev Ittycheria sold 19,600 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $100.94, for a total value of $1,978,424.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eliot Horowitz sold 6,900 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $137.78, for a total transaction of $950,682.00. The disclosure for this sale can be found here. Insiders sold a total of 204,925 shares of company stock valued at $26,066,704 in the last 90 days. Company insiders own 40.04% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its holdings in Mongodb by 134.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 218,941 shares of the company’s stock valued at $17,855,000 after acquiring an additional 125,608 shares in the last quarter. Vanguard Group Inc. increased its holdings in Mongodb by 3.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,683,561 shares of the company’s stock valued at $137,294,000 after acquiring an additional 58,398 shares in the last quarter. TCI Wealth Advisors Inc. increased its holdings in Mongodb by 17,133.3% during the 4th quarter. TCI Wealth Advisors Inc. now owns 517 shares of the company’s stock valued at $43,000 after acquiring an additional 514 shares in the last quarter. Bank of Montreal Can increased its holdings in Mongodb by 20.8% during the 4th quarter. Bank of Montreal Can now owns 64,425 shares of the company’s stock valued at $5,396,000 after acquiring an additional 11,100 shares in the last quarter. Finally, IFP Advisors Inc increased its holdings in Mongodb by 636.0% during the 4th quarter. IFP Advisors Inc now owns 920 shares of the company’s stock valued at $74,000 after acquiring an additional 795 shares in the last quarter. Hedge funds and other institutional investors own 62.52% of the company’s stock.

About Mongodb

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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