In a report released today, Ittai Kidron from Oppenheimer maintained a Buy rating on MongoDB Inc (MDB), with a price target of $135. The company’s shares closed yesterday at $104.26, close to its 52-week high of $109.97.
Kidron commented:
“MongoDB reported a strong FY4Q19, delivering excellent top-line growth (+84.5% YoY) and operating margin expansion (>29 pts YoY) while providing above-consensus guidance for FY20. Customer metrics were robust again; Atlas growth/usage remained exceptional (+111.8% YoY) as enterprise features were introduced and sales productivity rose, while larger customers rose in the mix (~31.8% of direct customers). Overall, while MongoDB’s future licensing model is something to watch, we believe the company is gradually establishing itself as the leading next-gen database provider fending off legacy and cloud competitors. Guidance seems highly conservative to us and we expect continued upside and broad-based adoption (geographies, use cases, verticals). Raising estimates for results/guidance; PT goes to $135 (from $90). Maintain Outperform.”
According to TipRanks.com, Kidron is a top 25 analyst with an average return of 28.8% and a 70.3% 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 Moderate Buy, with a price target consensus of $91.57, representing a -12.2% downside. In a report issued on February 28, Needham also maintained a Buy rating on the stock with a $108 price target.
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The company has a one-year high of $109.97 and a one-year low of $32.35. Currently, MongoDB Inc has an average volume of 1.2M.
Based on the recent corporate insider activity of 80 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.
