MongoDB (MDB) Trading Down 5.4%

Shares of MongoDB Inc. (NASDAQ:MDB) were down 5.4% during mid-day trading on Tuesday . The stock traded as low as $34.58 and last traded at $34.77. Approximately 984,791 shares were traded during trading, an increase of 110% from the average daily volume of 469,792 shares. The stock had previously closed at $36.75.

Several analysts recently weighed in on MDB shares. Stifel Nicolaus upped their price objective on MongoDB from $34.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, March 14th. Canaccord Genuity restated a “buy” rating and set a $45.00 price objective (up from $35.00) on shares of MongoDB in a research report on Wednesday, March 14th. Needham & Company LLC upgraded MongoDB from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Wednesday, February 14th. They noted that the move was a valuation call. Zacks Investment Research upgraded MongoDB from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research report on Saturday, January 13th. Finally, Monness Crespi & Hardt started coverage on MongoDB in a research report on Wednesday, April 11th. They set a “buy” rating and a $51.00 price objective for the company. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $39.10.

The stock has a market cap of $1,910.22 and a P/E ratio of -19.98.

MongoDB (NASDAQ:MDB) last posted its earnings results on Tuesday, March 13th. The company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.43) by $0.03. The firm had revenue of $45.00 million during the quarter, compared to the consensus estimate of $42.60 million. The company’s revenue was up 50.5% compared to the same quarter last year. analysts predict that MongoDB Inc. will post -1.63 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the business. Gilder Gagnon Howe & Co. LLC bought a new position in shares of MongoDB during the fourth quarter worth about $37,571,000. CI Investments Inc. bought a new position in shares of MongoDB during the fourth quarter worth about $2,226,000. Thompson Davis & CO. Inc. bought a new position in shares of MongoDB during the fourth quarter worth about $103,000. Essex Investment Management Co. LLC bought a new position in shares of MongoDB during the fourth quarter worth about $2,127,000. Finally, Brighton Jones LLC bought a new position in shares of MongoDB during the fourth quarter worth about $214,000. Hedge funds and other institutional investors own 26.82% of the company’s stock.

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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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