MongoDB (MDB) Earns Overweight Rating from Analysts at KeyCorp

KeyCorp assumed coverage on shares of MongoDB (NASDAQ:MDB) in a research report sent to investors on Monday morning, Marketbeat.com reports. The firm issued an overweight rating and a $50.00 price objective on the stock.

Other equities analysts have also recently issued reports about the company. Zacks Investment Research upgraded MongoDB from a hold rating to a buy rating and set a $32.00 target price on the stock in a report on Thursday, January 25th. Needham & Company LLC upgraded MongoDB from a hold rating to a buy rating and set a $34.00 target price on the stock in a report on Wednesday, February 14th. They noted that the move was a valuation call. Stifel Nicolaus lifted their target price on MongoDB from $34.00 to $43.00 and gave the stock a buy rating in a report on Wednesday, March 14th. Canaccord Genuity restated a buy rating and issued a $45.00 target price (up from $35.00) on shares of MongoDB in a report on Wednesday, March 14th. Finally, Monness Crespi & Hardt initiated coverage on MongoDB in a report on Wednesday, April 11th. They issued a buy rating and a $51.00 target price on the stock. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $40.09.

Shares of NASDAQ MDB opened at $41.49 on Monday. The firm has a market capitalization of $2.13 billion and a P/E ratio of -23.84. MongoDB has a 52-week low of $41.36 and a 52-week high of $42.29.

MongoDB (NASDAQ:MDB) last issued its earnings results on Tuesday, March 13th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.43) by $0.03. The company had revenue of $45.00 million during the quarter, compared to analyst estimates of $42.60 million. The business’s revenue for the quarter was up 50.5% on a year-over-year basis. analysts anticipate that MongoDB will post -1.63 earnings per share for the current fiscal year.

In other MongoDB news, major shareholder Whale Rock Capital Management bought 450,000 shares of the firm’s stock in a transaction dated Thursday, May 3rd. The stock was acquired at an average price of $38.35 per share, with a total value of $17,257,500.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Several institutional investors have recently modified their holdings of MDB. Thompson Davis & CO. Inc. acquired a new stake in MongoDB during the fourth quarter valued at $103,000. Stratos Wealth Partners LTD. acquired a new stake in MongoDB during the first quarter valued at $177,000. Brighton Jones LLC acquired a new stake in MongoDB during the fourth quarter valued at $214,000. Schwab Charles Investment Management Inc. acquired a new stake in MongoDB during the first quarter valued at $217,000. Finally, UBS Group AG boosted its position in MongoDB by 267.4% during the first quarter. UBS Group AG now owns 5,052 shares of the company’s stock valued at $219,000 after purchasing an additional 3,677 shares during the last quarter. 26.23% 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.

Analyst Recommendations for MongoDB (NASDAQ:MDB)

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