MongoDB (NASDAQ:MDB) Shares Up 7.4% – What’s Next?

MongoDB, Inc. (NASDAQ:MDB) shares shot up 7.4% during trading on Tuesday . The stock traded as high as $285.10 and last traded at $284.28. 819,510 shares changed hands during trading, a decline of 43% from the average session volume of 1,427,558 shares. The stock had previously closed at $264.58.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MDB. DA Davidson raised their price objective on MongoDB from $340.00 to $405.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Monness Crespi & Hardt cut shares of MongoDB from a “neutral” rating to a “sell” rating and set a $220.00 target price on the stock. in a research report on Monday, December 16th. KeyCorp increased their target price on shares of MongoDB from $330.00 to $375.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Morgan Stanley raised their price target on MongoDB from $340.00 to $350.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Finally, Needham & Company LLC boosted their price target on shares of MongoDB from $335.00 to $415.00 and gave the stock 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 assigned a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, MongoDB has a consensus rating of “Moderate Buy” and a consensus target price of $361.00.

MongoDB Trading Down 2.6 %

The business has a 50 day moving average price of $274.45 and a 200-day moving average price of $269.62. The firm has a market capitalization of $20.19 billion, a PE ratio of -98.93 and a beta of 1.25.

MongoDB (NASDAQ:MDB) last announced its earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, beating 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 analysts’ expectations of $497.39 million. During the same quarter in the prior year, the firm earned $0.96 EPS. MongoDB’s quarterly revenue was up 22.3% on a year-over-year basis. On average, equities research analysts forecast that MongoDB, Inc. will post -1.79 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Thomas Bull sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $355.92, for a total transaction of $355,920.00. Following the completion of the transaction, the chief accounting officer now owns 15,068 shares of the company’s stock, valued at $5,363,002.56. This trade represents a 6.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Dwight A. Merriman sold 3,000 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $269.57, for a total transaction of $808,710.00. Following the completion of the transaction, the director now owns 1,127,006 shares of the company’s stock, valued at approximately $303,807,007.42. The trade was a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,491 shares of company stock valued at $11,554,190 in the last quarter. Company insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

Several institutional investors have recently modified their holdings of MDB. Hilltop National Bank increased its stake in MongoDB by 47.2% during the 4th quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after purchasing an additional 42 shares in the last quarter. Quarry LP increased its position in MongoDB by 2,580.0% during the second quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after acquiring an additional 129 shares during the period. Brooklyn Investment Group acquired a new stake in MongoDB during the third quarter worth about $36,000. Continuum Advisory LLC increased its stake in shares of MongoDB by 621.1% in the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after purchasing an additional 118 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in MongoDB by 178.8% during the third quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock worth $39,000 after acquiring an additional 93 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

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.