After Monness and Needham gave MongoDB Inc (NASDAQ: MDB) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Ittai Kidron maintained a Buy rating on MongoDB Inc today and set a price target of $90. The company’s shares closed yesterday at $75.89.
Kidron wrote:
“MongoDB is one of our top-picks for 2019. Our bullish stance is grounded on: (1) secular themes supporting an investment in a new generation of databases, with MongoDB’s developer-ethos/self-serve model making it an early market leader; (2) MongoDB’s well-rounded platform can address a range of use-cases supporting strong expansion activity (>120%); (3) robust Atlas growth proving out the need for a real-time/operational and cloud-independent option in the market; and (4) the potential for steady margin improvement. While the stock appears expensive, business performance/costs are becoming more dependent on database choice, putting MongoDB in a position to strongly grow even with potential macro disruptions. We see upside coming from share gains in a large and fragmented market as MongoDB leverages its land-and-expand approach. Maintain Outperform.”
According to TipRanks.com, Kidron is a top 25 analyst with an average return of 23.7% and a 62.6% success rate. Kidron covers the Technology sector, focusing on stocks such as Citrix Systems, New Relic Inc, and Cloudera Inc.
MongoDB Inc has an analyst consensus of Strong Buy, with a price target consensus of $95.33.
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The company has a one-year high of $93.23 and a one-year low of $25.16. Currently, MongoDB Inc has an average volume of 1.29M.
Based on the recent corporate insider activity of 69 insiders, corporate insider sentiment is negative on the stock.
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MongoDB, Inc. engages in the development and provision of a general purpose database platform. Its products include MongoDB Enterprise Advanced, MongoDB Professional, Development Support, Ops and Cloud Manager. The company was founded by Eliot Horowitz, Dwight A. Merriman, Kevin P. Ryan and Geir Magnusson Jr. in 2007 and is headquartered in New York, NY.
