Canaccord Genuity Reaffirms “Buy” Rating for Mongodb (MDB)

Mongodb (NASDAQ:MDB)‘s stock had its “buy” rating reissued by analysts at Canaccord Genuity in a research note issued on Thursday, Marketbeat.com reports. They presently have a $95.00 target price on the stock, up from their previous target price of $78.00. Canaccord Genuity’s price objective suggests a potential upside of 12.63% from the stock’s current price. The analysts noted that the move was a valuation call.

A number of other research firms also recently issued reports on MDB. Zacks Investment Research downgraded shares of Mongodb from a “hold” rating to a “sell” rating in a report on Wednesday, September 12th. Monness Crespi & Hardt raised their price objective on shares of Mongodb from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday. Citigroup raised their price objective on shares of Mongodb from $56.00 to $86.00 and gave the stock a “neutral” rating in a report on Tuesday, September 11th. Barclays raised their price objective on shares of Mongodb from $79.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, September 17th. They noted that the move was a valuation call. Finally, BTIG Research assumed coverage on shares of Mongodb in a report on Wednesday, September 12th. They set a “neutral” rating for the company. One 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. The stock presently has an average rating of “Buy” and an average target price of $81.85.

NASDAQ MDB opened at $84.35 on Thursday. Mongodb has a 52-week low of $24.62 and a 52-week high of $93.23. The company has a debt-to-equity ratio of 1.01, a current ratio of 3.74 and a quick ratio of 3.74. The stock has a market cap of $4.74 billion, a P/E ratio of -48.48 and a beta of -0.64.

Mongodb (NASDAQ:MDB) last posted its quarterly earnings data on Tuesday, December 4th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.26. Mongodb had a negative net margin of 54.74% and a negative return on equity of 55.21%. The business had revenue of $65.00 million during the quarter, compared to the consensus estimate of $60.26 million. During the same quarter last year, the company posted ($0.44) earnings per share. The firm’s quarterly revenue was up 56.6% compared to the same quarter last year. On average, equities research analysts anticipate that Mongodb will post -2.28 EPS for the current year.

In other news, CEO Dev Ittycheria sold 63,600 shares of Mongodb stock in a transaction dated 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 Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael Lawrence Gordon sold 1,047 shares of Mongodb stock in a transaction dated 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. Insiders sold 973,904 shares of company stock valued at $79,863,660 in the last quarter. Corporate insiders own 40.04% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of MDB. UBS Group AG grew its stake in Mongodb by 267.4% during the first quarter. UBS Group AG now owns 5,052 shares of the company’s stock valued at $219,000 after acquiring an additional 3,677 shares in the last quarter. OppenheimerFunds Inc. grew its stake in Mongodb by 144.7% during the second quarter. OppenheimerFunds Inc. now owns 411,490 shares of the company’s stock valued at $20,423,000 after acquiring an additional 243,350 shares in the last quarter. Whale Rock Capital Management LLC grew its stake in Mongodb by 587.8% during the second quarter. Whale Rock Capital Management LLC now owns 3,830,271 shares of the company’s stock valued at $190,096,000 after acquiring an additional 3,273,409 shares in the last quarter. Macquarie Group Ltd. purchased a new position in Mongodb during the second quarter valued at approximately $1,951,000. Finally, FMR LLC grew its stake in Mongodb by 7,986.7% during the second quarter. FMR LLC now owns 2,268,485 shares of the company’s stock valued at $112,585,000 after acquiring an additional 2,240,433 shares in the last quarter. Hedge funds and other institutional investors own 50.44% 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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Analyst Recommendations for Mongodb (NASDAQ:MDB)

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