Mongodb (NASDAQ:MDB) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Mongodb (NASDAQ:MDB) from a hold rating to a sell rating in a report released on Friday morning, Zacks.com reports.

According to Zacks, “MongoDB, Inc. provides general purpose database platform. Its products include MongoDB Enterprise Advanced, MongoDB Enterprise for OEM, MongoDB Professional, MongoDB Stitch, MongoDB Atlas, Development Support, Ops Manager, Cloud Manager, Compass, Connector for business intelligence, and Connector for Spark. The company serves financial services, government, healthcare, media and entertainment, retail, technology and telecommunications industries. MongoDB, Inc. is headquartered in New York. “

Several other brokerages also recently weighed in on MDB. Oppenheimer raised their target price on shares of Mongodb from $160.00 to $180.00 and gave the company an outperform rating in a research note on Wednesday, June 19th. Barclays restated a buy rating on shares of Mongodb in a research note on Friday, September 6th. Nomura set a $76.00 target price on shares of Mongodb and gave the company a sell rating in a research note on Wednesday, June 19th. Canaccord Genuity raised their target price on shares of Mongodb from $160.00 to $185.00 and gave the company a buy rating in a research note on Wednesday, June 19th. Finally, Needham & Company LLC set a $184.00 target price on shares of Mongodb and gave the company a buy rating in a research note on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $159.57.



NASDAQ MDB opened at $131.35 on Friday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.82 and a current ratio of 2.82. The firm’s 50 day moving average price is $141.10 and its 200-day moving average price is $143.87. Mongodb has a 52-week low of $62.30 and a 52-week high of $184.78. The company has a market cap of $7.40 billion, a PE ratio of -76.37 and a beta of 0.15.

Mongodb (NASDAQ:MDB) last released its quarterly earnings data on Wednesday, September 4th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.51) by ($0.07). Mongodb had a negative net margin of 36.58% and a negative return on equity of 43.95%. The business had revenue of $99.40 million for the quarter, compared to the consensus estimate of $91.70 million. During the same quarter in the prior year, the business posted ($0.41) earnings per share. Mongodb’s revenue for the quarter was up 66.8% on a year-over-year basis. On average, analysts forecast that Mongodb will post -2.24 earnings per share for the current fiscal year.

In other Mongodb news, CFO Michael Lawrence Gordon sold 3,240 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $145.62, for a total value of $471,808.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas Bull sold 5,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $129.25, for a total transaction of $646,250.00. In the last ninety days, insiders sold 233,620 shares of company stock valued at $34,095,234. Corporate insiders own 25.08% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its holdings in shares of Mongodb by 138.7% during the second quarter. BlackRock Inc. now owns 1,820,059 shares of the company’s stock worth $276,812,000 after purchasing an additional 1,057,430 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Mongodb by 690.1% during the second quarter. First Trust Advisors LP now owns 746,150 shares of the company’s stock worth $113,482,000 after purchasing an additional 651,708 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Mongodb by 24.4% during the second quarter. Vanguard Group Inc. now owns 3,125,593 shares of the company’s stock worth $475,372,000 after purchasing an additional 612,848 shares during the last quarter. FIL Ltd purchased a new position in shares of Mongodb during the first quarter worth $82,626,000. Finally, Morgan Stanley raised its holdings in shares of Mongodb by 9.1% during the second quarter. Morgan Stanley now owns 5,731,123 shares of the company’s stock worth $871,646,000 after purchasing an additional 479,368 shares during the last quarter. 71.66% of the stock is owned by institutional investors and hedge funds.

Mongodb Company Profile

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.

Further Reading: What are the Benefits of Index Funds?

Get a free copy of the Zacks research report on Mongodb (MDB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Mongodb (NASDAQ:MDB)

Receive News & Ratings for Mongodb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mongodb and related companies with MarketBeat.com's FREE daily email newsletter.