Zacks Investment Research Downgrades Mongodb (MDB) to Hold

Mongodb (NASDAQ:MDB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.

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. “

MDB has been the topic of a number of other research reports. Canaccord Genuity reaffirmed a “buy” rating and set a $95.00 target price (up previously from $78.00) on shares of Mongodb in a report on Thursday, December 6th. They noted that the move was a valuation call. Citigroup increased their price target on shares of Mongodb from $86.00 to $94.00 and gave the stock a “neutral” rating in a report on Thursday, December 6th. Needham & Company LLC increased their price target on shares of Mongodb from $85.00 to $91.00 and gave the stock a “buy” rating in a report on Thursday, December 6th. CIBC started coverage on shares of Mongodb in a report on Wednesday, October 17th. They issued an “outperform” rating and a $80.00 price target on the stock. Finally, Oppenheimer started coverage on shares of Mongodb in a report on Wednesday, October 17th. They issued an “outperform” rating and a $80.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $88.38.

Mongodb stock opened at $98.29 on Thursday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 3.41 and a current ratio of 3.41. The company has a market cap of $5.36 billion and a P/E ratio of -56.49. Mongodb has a 1-year low of $28.46 and a 1-year high of $101.89.

Mongodb (NASDAQ:MDB) last posted its earnings results on Tuesday, December 4th. The company reported ($0.30) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.56) by $0.26. The business had revenue of $65.00 million for the quarter, compared to analyst estimates of $60.26 million. Mongodb had a negative net margin of 54.74% and a negative return on equity of 54.80%. Mongodb’s revenue was up 56.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.44) EPS. Research analysts expect that Mongodb will post -2.23 EPS for the current year.

In other Mongodb news, major shareholder Whale Rock Capital Management sold 683,871 shares of the stock in a transaction on Friday, November 30th. The shares were sold at an average price of $82.39, for a total transaction of $56,344,131.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas Bull sold 754 shares of the stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $81.36, for a total transaction of $61,345.44. The disclosure for this sale can be found here. Insiders sold a total of 862,778 shares of company stock valued at $71,591,908 in the last ninety days. 40.04% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Pearl River Capital LLC purchased a new stake in Mongodb during the 4th quarter valued at $25,000. Quantamental Technologies LLC purchased a new stake in Mongodb during the 4th quarter valued at $33,000. PNC Financial Services Group Inc. purchased a new stake in Mongodb during the 4th quarter valued at $34,000. TCI Wealth Advisors Inc. boosted its position in Mongodb by 17,133.3% during the 4th quarter. TCI Wealth Advisors Inc. now owns 517 shares of the company’s stock valued at $43,000 after buying an additional 514 shares during the period. Finally, Rehmann Capital Advisory Group boosted its position in Mongodb by 1,556.5% during the 3rd quarter. Rehmann Capital Advisory Group now owns 762 shares of the company’s stock valued at $62,000 after buying an additional 716 shares during the period. 54.36% 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.

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