MongoDB Inc. (MDB) Testing Investors’ Patience Right Now

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    Morgan Stanley Investment Managem. recently announced the acquisition of new stake in MongoDB Inc. (NASDAQ:MDB). The institutional investor has increased its shareholding in the Technology company by 35.68% to 4.95 million shares with purchase of 1.3 million shares. This fresh investment now brings its stake to 9.80% valued currently at $1.12 billion. In addition, The Vanguard Group, Inc. raised its holdings by 90879.0 to 4.15 million shares. And Capital Research & Management Co. has lifted its position by 1.11% or 23201.0 shares – to 2.12 million shares.

    With over 0.52 million MongoDB Inc. (MDB) shares trading Tuesday and a closing price of $201.50 on the day, the dollar volume was approximately $105.26 million. The shares have shown a negative weekly performance of -7.73% and its price on 07/28/20 lost nearly -2.66%. Currently, there are 57.65M common shares owned by the public and among those 50.27M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 14 analysts who have offered their price forecasts for MDB have a consensus price objective of $234.09. The analysts have set the share’s price value over the next 12 months at a high of $280.00 and a low of $190.00 should the stock experience a downside. Incidentally, analysts’ outlook for the MongoDB Inc. stock is 2.10 for the next 12 months. The average price target is 15.51% above its last price level and an upside to the estimated low will see the stock lose -6.05% over that period. But an upside of 28.04% will see the stock hit the forecast high price target while mean target price for the stock is $226.00.

    Insiders at the company have transacted a total of 384 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 81 of these insider trades were purchases, accounting for 2,515,437 shares. Insider sales of the common stock occurred on 303 occasions, with total insider shares sold totaling 789,498 shares.

    The top 3 mutual fund holders in MongoDB Inc. are American Funds Growth Fund of Ame, American Funds Small Cap World Fu, and Fidelity Contrafund. American Funds Growth Fund of Ame owns 4.87 million shares of the company’s stock, all valued at over $1.1 billion. The company bought an additional 0.25 million shares recently to bring their total holdings to about 9.64% of the shares outstanding. American Funds Small Cap World Fu sold 74000.0 shares to see its total holdings shrink to 2.91 million shares valued at over $658.47 million and representing 5.75% of the shares outstanding. Fidelity Contrafund bought 60281.0 shares to bring its total holdings to over 2.01 million shares at a value of $454.1 million. Fidelity Contrafund now owns shares totaling to 3.97% of the shares outstanding.

    Shares of MongoDB Inc. (NASDAQ: MDB) opened at $207.19, up $0.19 from a prior closing price of $207.00. However, the script later closed the day at $201.50, down -2.66%. The company’s stock has a 5-day price change of -7.73% and 30.21% over the past three months. MDB shares are trading 53.10% year to date (YTD), with the 12-month market performance up to 39.07% higher. It has a 12-month low price of $93.81 and touched a high of $243.92 over the same period. Currently, 0.52 million shares have been traded, compared to an average intraday trading volume of 1.03 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -7.59%, -6.03%, and 24.99% respectively.

    Institutional ownership of MongoDB Inc. (NASDAQ: MDB) shares accounts for 86.80% of the company’s 57.65M shares outstanding. Mutual fund holders own 31.07%, while other institutional holders and individual stakeholders account for 67.63% and 15.07% respectively.

    It has a market capitalization of $11.82B. The earnings-per-share (ttm) stands at -$3.46. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.01% over the week and 5.05% over the month.

    Analysts forecast that MongoDB Inc. (MDB) will achieve an EPS of -$0.39 for the current quarter, -$0.38 for the next quarter and -$0.9 for 2022. The lowest estimate earnings-per-share for the quarter is -$0.4 while analysts give the company a high EPS estimate of -$0.38. Comparatively, EPS for the current quarter was -$0.26 a year ago. Earnings per share for the fiscal year are expected to decrease by -64.90%, and 28.60% over the next financial year.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 14 brokerage firm advisors rate MongoDB Inc. (MDB) as a “Moderate Buy” at a consensus score of 2.10. Specifically, 8 Wall Street analysts polled rate the stock as a buy, while 6 of the 14 advise that investors “hold,” and 0 rated it as a “Sell.”

    Looking at the support for the MDB, a number of firms have released research notes about the stock. Monness Crespi & Hardt stated their Neutral rating for the stock in a research note on June 05, 2020, with the firm’s price target at. Needham coverage for the MongoDB Inc. (MDB) stock in a research note released on June 02, 2020 offered a Buy rating with a price target of $253. Monness Crespi & Hardt was of a view on March 18, 2020 that the stock is Buy, while Argus gave the stock Hold rating on January 06, 2020, issuing a price target of. Piper Jaffray on their part issued Overweight rating on October 29, 2019.

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