Morgan Stanley Reiterates Equal Weight Rating for Mongodb (MDB)

Morgan Stanley reissued their equal weight rating on shares of Mongodb (NASDAQ:MDB) in a research note published on Wednesday, March 14th. They currently have a $35.00 target price on the stock, up from their prior target price of $32.00.

A number of other brokerages have also recently commented on MDB. Canaccord Genuity reaffirmed a buy rating and set a $45.00 target price (up from $35.00) on shares of Mongodb in a report on Wednesday, March 14th. Zacks Investment Research cut shares of Mongodb from a buy rating to a hold rating in a report on Wednesday, January 17th. ValuEngine raised shares of Mongodb from a sell rating to a hold rating in a report on Thursday, February 8th. Stifel Nicolaus upped their target price on shares of Mongodb from $34.00 to $43.00 and gave the company a buy rating in a report on Wednesday, March 14th. Finally, Barclays upped their target price on shares of Mongodb from $38.00 to $45.00 and gave the company an overweight rating in a report on Wednesday, March 14th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $37.78.

Shares of MDB traded down $2.23 during mid-day trading on Wednesday, hitting $40.77. 293,434 shares of the company traded hands, compared to its average volume of 722,866. Mongodb has a 1 year low of $24.62 and a 1 year high of $46.26. The stock has a market capitalization of $2,061.94 and a price-to-earnings ratio of -23.43.

Mongodb (NASDAQ:MDB) last released its quarterly earnings data on Tuesday, March 13th. The company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.03. The company had revenue of $45.00 million for the quarter, compared to analysts’ expectations of $42.60 million. Mongodb’s revenue for the quarter was up 50.5% compared to the same quarter last year. equities analysts predict that Mongodb will post -1.63 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in MDB. Thompson Davis & CO. Inc. purchased a new stake in shares of Mongodb in the fourth quarter worth $103,000. Brighton Jones LLC purchased a new stake in shares of Mongodb in the fourth quarter worth $214,000. Wolverine Trading LLC purchased a new stake in shares of Mongodb in the fourth quarter worth $295,000. Bamco Inc. NY purchased a new stake in shares of Mongodb in the fourth quarter worth $297,000. Finally, Wolverine Asset Management LLC purchased a new stake in shares of Mongodb in the fourth quarter worth $445,000. 26.80% of the stock is owned by hedge funds and other institutional investors.

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Mongodb Company Profile

MongoDB, Inc is a modern, general purpose database platform. Its platform is designed to run applications at scale across a broad range of use cases in the cloud, on-premise or in a hybrid environment. Its primary subscription package is MongoDB Enterprise Advanced, which includes its proprietary database server, security, enterprise management capabilities, its graphical user interface, analytics integrations and technical support.

Analyst Recommendations for Mongodb (NASDAQ:MDB)

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