Zacks Investment Research cut shares of Mongodb (NASDAQ:MDB) from a hold rating to a sell rating in a report published on Wednesday morning.

According to Zacks, “MongoDB, Inc. provides general purpose database platform. Its products include MongoDB Enterprise Advanced, MongoDB Enterprise for OEM, MongoDB Professional, MongoDB Stitch, MongoDB Atlas, Development Support, Ops Manager, Cloud Manager, Compass, Connector for business intelligence, and Connector for Spark. The company serves financial services, government, healthcare, media and entertainment, retail, technology and telecommunications industries. MongoDB, Inc. is headquartered in New York. “

MDB has been the topic of a number of other research reports. Needham & Company LLC started coverage on Mongodb in a research note on Monday, October 23rd. They issued a hold rating on the stock. Canaccord Genuity Group started coverage on Mongodb in a research note on Wednesday, November 15th. They issued a buy rating and a $35.00 target price on the stock. Stifel Nicolaus started coverage on Mongodb in a research note on Monday, November 13th. They issued a buy rating and a $34.00 target price on the stock. Morgan Stanley lowered their target price on Mongodb from $33.00 to $32.00 and set an equal weight rating on the stock in a research note on Tuesday, January 30th. Finally, Nomura started coverage on Mongodb in a research note on Tuesday, January 23rd. They issued a neutral rating and a $30.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. Mongodb has an average rating of Hold and an average price target of $33.33.

Shares of Mongodb (NASDAQ MDB) traded up $1.98 on Wednesday, hitting $30.13. The stock had a trading volume of 422,600 shares, compared to its average volume of 163,247. Mongodb has a 1 year low of $24.62 and a 1 year high of $34.00.

Mongodb (NASDAQ:MDB) last issued its earnings results on Tuesday, December 12th. The company reported ($1.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.90). The firm had revenue of $41.50 million during the quarter, compared to analysts’ expectations of $37.21 million. The company’s quarterly revenue was up 57.8% on a year-over-year basis. research analysts expect that Mongodb will post -1.9 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Union Square GP 2008 L.L.C. acquired a new position in Mongodb in the 4th quarter worth about $117,307,000. Gilder Gagnon Howe & Co. LLC acquired a new position in Mongodb in the 4th quarter worth about $37,571,000. Schf GPE LLC acquired a new position in Mongodb in the 4th quarter worth about $23,687,000. Wells Fargo & Company MN acquired a new position in Mongodb in the 4th quarter worth about $14,839,000. Finally, Millennium Management LLC acquired a new position in Mongodb in the 4th quarter worth about $11,579,000. 3.18% of the stock is owned by institutional investors.

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About Mongodb

MongoDB, Inc is a modern, general purpose database platform. Its platform is designed to run applications at scale across a broad range of use cases in the cloud, on-premise or in a hybrid environment. Its primary subscription package is MongoDB Enterprise Advanced, which includes its proprietary database server, security, enterprise management capabilities, its graphical user interface, analytics integrations and technical support.

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