MongoDB (NASDAQ:MDB) Coverage Initiated at Cantor Fitzgerald

Stock analysts at Cantor Fitzgerald began coverage on shares of MongoDB (NASDAQ:MDB) in a research report issued to clients and investors on Friday, MarketBeat reports. The brokerage set an “overweight” rating and a $344.00 price target on the stock. Cantor Fitzgerald’s price target indicates a potential upside of 35.91% from the company’s previous close.

A number of other analysts have also recently weighed in on MDB. Citigroup raised their target price on shares of MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Loop Capital lifted their target price on MongoDB from $315.00 to $400.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Wells Fargo & Company upped their target price on MongoDB from $350.00 to $425.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Piper Sandler reissued an “overweight” rating and issued a $425.00 price target on shares of MongoDB in a research note on Tuesday, December 10th. Finally, DA Davidson upped their price objective on shares of MongoDB from $340.00 to $405.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $363.93.

MongoDB Stock Performance

Shares of NASDAQ MDB opened at $253.11 on Friday. MongoDB has a 1 year low of $212.74 and a 1 year high of $509.62. The stock has a fifty day moving average price of $278.24 and a two-hundred day moving average price of $269.17. The firm has a market cap of $18.85 billion, a P/E ratio of -92.38 and a beta of 1.25.

MongoDB (NASDAQ:MDB) last released its earnings results on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.48. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The firm had revenue of $529.40 million for the quarter, compared to analyst estimates of $497.39 million. During the same period in the previous year, the company earned $0.96 earnings per share. MongoDB’s revenue was up 22.3% compared to the same quarter last year. On average, research analysts predict that MongoDB will post -1.79 earnings per share for the current fiscal year.

Insider Buying and Selling

In other MongoDB news, CAO Thomas Bull sold 169 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $39,561.21. Following the completion of the sale, the chief accounting officer now owns 14,899 shares of the company’s stock, valued at $3,487,706.91. This represents a 1.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dwight A. Merriman sold 1,045 shares of MongoDB stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $242.67, for a total transaction of $253,590.15. Following the completion of the transaction, the director now directly owns 85,652 shares in the company, valued at approximately $20,785,170.84. This represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,821 shares of company stock worth $6,831,215. Corporate insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

A number of hedge funds have recently bought and sold shares of MDB. Aigen Investment Management LP acquired a new position in shares of MongoDB during the 3rd quarter worth about $1,045,000. Geode Capital Management LLC increased its position in MongoDB by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock worth $331,776,000 after buying an additional 34,814 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of MongoDB during the third quarter worth approximately $4,366,000. Charles Schwab Investment Management Inc. boosted its position in shares of MongoDB by 2.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 278,419 shares of the company’s stock valued at $75,271,000 after acquiring an additional 7,575 shares during the period. Finally, Sanctuary Advisors LLC acquired a new stake in shares of MongoDB in the second quarter worth $1,860,000. 89.29% of the stock is currently owned by 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.