MongoDB (MDB) Receives a New Rating from a Top Analyst
In a report released today, Ittai Kidron from Oppenheimer assigned a Buy rating to MongoDB (MDB), with a price target of $300.00. The company’s shares closed last Tuesday at $282.98, close to its 52-week high of $289.79.
According to TipRanks.com, Kidron is a top 25 analyst with an average return of 40.5% and a 77.0% success rate. Kidron covers the Technology sector, focusing on stocks such as Zoom Video Communications, Slack Technologies, and Cambium Networks.
MongoDB has an analyst consensus of Moderate Buy, with a price target consensus of $295.20, representing a 4.8% upside. In a report issued on December 7, Needham also assigned a Buy rating to the stock with a $290.00 price target.
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Based on MongoDB’s latest earnings release for the quarter ending July 31, the company reported a quarterly revenue of $138 million and GAAP net loss of $64.53 million. In comparison, last year the company earned revenue of $99.37 million and had a GAAP net loss of $37.34 million.
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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 Atlas, and Community Server. It also offers professional services including consulting and training. 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.