MongoDB (NASDAQ:MDB) Upgraded to "Neutral" at Redburn Atlantic

MongoDB (NASDAQ:MDB - Get Free Report) was upgraded by Redburn Atlantic from a "sell" rating to a "neutral" rating in a note issued to investors on Thursday,Finviz reports. The firm currently has a $170.00 price objective on the stock. Redburn Atlantic's price objective points to a potential upside of 6.22% from the stock's previous close.

• MarketBeat Week in Review – 03/24 - 03/28

A number of other research analysts also recently issued reports on MDB. Canaccord Genuity Group cut their price objective on shares of MongoDB from $385.00 to $320.00 and set a "buy" rating on the stock in a research report on Thursday, March 6th. Robert W. Baird cut their price target on shares of MongoDB from $390.00 to $300.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. KeyCorp lowered MongoDB from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. Cantor Fitzgerald initiated coverage on MongoDB in a research note on Wednesday, March 5th. They set an "overweight" rating and a $344.00 target price on the stock. Finally, Wedbush reduced their target price on MongoDB from $360.00 to $300.00 and set an "outperform" rating on the stock in a research report on Thursday, March 6th. Eight analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $299.78.

Read Our Latest Research Report on MDB

MongoDB Stock Up 0.9 %

• After Massive Post Earnings Fall, Does Hope Remain for MongoDB?

Shares of MDB stock opened at $160.04 on Thursday. The company's 50 day moving average is $213.23 and its 200 day moving average is $253.88. The firm has a market cap of $12.99 billion, a price-to-earnings ratio of -58.41 and a beta of 1.49. MongoDB has a 52-week low of $140.78 and a 52-week high of $387.19.

MongoDB (NASDAQ:MDB - Get Free Report) last released its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.45). MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company had revenue of $548.40 million during the quarter, compared to the consensus estimate of $519.65 million. During the same period in the previous year, the firm posted $0.86 earnings per share. Analysts anticipate that MongoDB will post -1.78 EPS for the current fiscal year.

Insider Activity at MongoDB

• How AI Implementation Could Help MongoDB Roar Back in 2025

In other MongoDB news, insider Cedric Pech sold 1,690 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total transaction of $292,809.40. Following the completion of the transaction, the insider now owns 57,634 shares of the company's stock, valued at $9,985,666.84. This trade represents a 2.85 % 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 885 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $292.05, for a total transaction of $258,464.25. Following the completion of the transaction, the director now owns 83,845 shares in the company, valued at approximately $24,486,932.25. This represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,015 shares of company stock worth $13,208,285. Insiders own 3.60% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. OneDigital Investment Advisors LLC grew its stake in shares of MongoDB by 3.9% in the fourth quarter. OneDigital Investment Advisors LLC now owns 1,044 shares of the company's stock worth $243,000 after acquiring an additional 39 shares in the last quarter. Hilltop National Bank boosted its stake in shares of MongoDB by 47.2% in the 4th quarter. Hilltop National Bank now owns 131 shares of the company's stock valued at $30,000 after buying an additional 42 shares during the period. Avestar Capital LLC increased its stake in shares of MongoDB by 2.0% during the fourth quarter. Avestar Capital LLC now owns 2,165 shares of the company's stock worth $504,000 after buying an additional 42 shares during the period. Aigen Investment Management LP raised its holdings in MongoDB by 1.4% in the fourth quarter. Aigen Investment Management LP now owns 3,921 shares of the company's stock valued at $913,000 after acquiring an additional 55 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in MongoDB by 0.4% during the 1st quarter. Handelsbanken Fonder AB now owns 14,816 shares of the company's stock worth $2,599,000 after acquiring an additional 65 shares in the last quarter. Hedge funds and other institutional investors 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.

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