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MongoDB (MDB) Gets a Buy from RBC Capital

RBC Capital analyst Rishi Jaluria maintained a Buy rating on MongoDB (MDBResearch Report) on November 28 and set a price target of $235.00. The company’s shares closed yesterday at $152.69.

Jaluria covers the Technology sector, focusing on stocks such as Guidewire, Salesforce, and DocuSign. According to TipRanks, Jaluria has an average return of -2.8% and a 41.75% success rate on recommended stocks.

In addition to RBC Capital, MongoDB also received a Buy from UBS’s Joseph Parkhill in a report issued on November 29. However, on November 21, Morgan Stanley downgraded MongoDB (NASDAQ: MDB) to a Hold.

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Based on MongoDB’s latest earnings release for the quarter ending July 31, the company reported a quarterly revenue of $303.66 million and a GAAP net loss of $118.87 million. In comparison, last year the company earned a revenue of $198.75 million and had a GAAP net loss of $77.13 million

Based on the recent corporate insider activity of 90 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MDB in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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