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Oppenheimer Believes MongoDB Inc (MDB) Still Has Room to Grow


Oppenheimer analyst Ittai Kidron maintained a Buy rating on MongoDB Inc (MDB) yesterday and set a price target of $90. The company’s shares closed yesterday at $83.73, close to its 52-week high of $88.27.

Kidron commented:

“MongoDB reported a strong FY3Q19, delivering exceptional top-line growth (+56.6% YoY) and operating margin expansion (>18 points YoY). Customer metrics were robust; Atlas growth/usage remained strong and customers spending >$100K on the platform grew in the mix. Top-line guidance was above consensus, reflecting an ample runway ahead. In this light, we see management’s growth-over-margins focus as strategic given the size of the opportunity and the relatively fragmented competitive landscape. We remain bullish and believe MongoDB is well positioned to gain share in the NoSQL/relational market given its developer-driven culture (highlighted by its land-and-expand model) and unique hybrid architecture. Raising estimates for results/ guidance; PT goes to $90 (from $80). Maintain Outperform.”

Kidron has an average return of 20.8% when recommending MongoDB Inc.

According to TipRanks.com, Kidron is ranked #22 out of 5142 analysts.

MongoDB Inc has an analyst consensus of Strong Buy, with a price target consensus of $81.75, which is a -2.4% downside from current levels. In a report issued on November 27, Monness also maintained a Buy rating on the stock with a $90 price target.

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The company has a one-year high of $88.27 and a one-year low of $24.62. Currently, MongoDB Inc has an average volume of 1.19M.

Based on the recent corporate insider activity of 61 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.