Mongodb (MDB) Receives New Coverage from Analysts at Oppenheimer

Oppenheimer initiated coverage on shares of Mongodb (NASDAQ:MDB) in a report published on Wednesday, Marketbeat reports. The firm issued an outperform rating and a $80.00 price target on the stock.

Other equities analysts have also recently issued research reports about the stock. Rosenblatt Securities started coverage on shares of Mongodb in a research note on Monday, July 9th. They issued a buy rating on the stock. Monness Crespi & Hardt lifted their price objective on shares of Mongodb from $60.00 to $90.00 and gave the stock a buy rating in a research note on Thursday, September 6th. Canaccord Genuity lifted their price objective on shares of Mongodb from $54.00 to $78.00 and gave the stock a buy rating in a research note on Thursday, September 6th. Stifel Nicolaus lifted their price objective on shares of Mongodb from $53.00 to $80.00 and gave the stock a buy rating in a research note on Thursday, September 6th. Finally, Needham & Company LLC lifted their price objective on shares of Mongodb from $57.00 to $85.00 and gave the stock a buy rating in a research note on Tuesday, September 4th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. The company has an average rating of Hold and a consensus price target of $71.87.

Shares of MDB stock traded down $1.34 during midday trading on Wednesday, reaching $69.19. 9,789 shares of the company were exchanged, compared to its average volume of 763,550. Mongodb has a 12 month low of $24.62 and a 12 month high of $85.25. The company has a market capitalization of $4.26 billion and a price-to-earnings ratio of -40.37. The company has a current ratio of 3.74, a quick ratio of 3.74 and a debt-to-equity ratio of 1.01.

Mongodb (NASDAQ:MDB) last released its quarterly earnings results on Wednesday, September 5th. The company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.04. The company had revenue of $57.50 million for the quarter, compared to the consensus estimate of $51.75 million. Mongodb had a negative net margin of 57.74% and a negative return on equity of 52.67%. Mongodb’s revenue for the quarter was up 61.5% compared to the same quarter last year. On average, equities research analysts predict that Mongodb will post -2.24 earnings per share for the current year.

In other news, CEO Dev Ittycheria sold 63,600 shares of Mongodb stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $84.11, for a total value of $5,349,396.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael Lawrence Gordon sold 1,047 shares of Mongodb stock in a transaction that occurred on Tuesday, October 2nd. The stock was sold at an average price of $75.23, for a total transaction of $78,765.81. The disclosure for this sale can be found here. Over the last three months, insiders sold 292,683 shares of company stock worth $23,132,605. 40.04% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in MDB. Regis Management CO LLC purchased a new position in shares of Mongodb in the second quarter worth approximately $148,000. Whittier Trust Co. of Nevada Inc. increased its position in shares of Mongodb by 409.4% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,301 shares of the company’s stock worth $164,000 after acquiring an additional 2,653 shares in the last quarter. TRUE Private Wealth Advisors purchased a new position in Mongodb during the third quarter valued at approximately $182,000. Benjamin F. Edwards & Company Inc. grew its position in Mongodb by 36.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,050 shares of the company’s stock valued at $201,000 after purchasing an additional 1,075 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. purchased a new position in Mongodb during the first quarter valued at approximately $217,000. 41.90% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Mongodb (NASDAQ:MDB)

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