MongoDB (NASDAQ:MDB) Price Target Raised to $345.00 at Barclays

MongoDB (NASDAQ:MDB) had its price objective upped by Barclays from $290.00 to $345.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 21.39% from the stock’s previous close.

A number of other analysts have also recently weighed in on the stock. Wedbush raised shares of MongoDB to a “strong-buy” rating in a research note on Thursday, October 17th. DA Davidson upped their price objective on MongoDB from $330.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Bank of America raised their target price on MongoDB from $300.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. UBS Group upped their price target on MongoDB from $250.00 to $275.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Finally, Wells Fargo & Company lifted their price objective on MongoDB from $300.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $336.54.

MongoDB Stock Performance

MDB stock traded down $7.39 during trading on Friday, reaching $284.20. 143,307 shares of the stock were exchanged, compared to its average volume of 1,424,702. The stock has a 50 day simple moving average of $278.11 and a 200-day simple moving average of $275.45. The company has a current ratio of 5.03, a quick ratio of 5.03 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $20.99 billion, a P/E ratio of -93.72 and a beta of 1.15. MongoDB has a twelve month low of $212.74 and a twelve month high of $509.62.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.21. The company had revenue of $478.11 million for the quarter, compared to analyst estimates of $465.03 million. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. MongoDB’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.63) EPS. As a group, sell-side analysts anticipate that MongoDB will post -2.39 earnings per share for the current year.

Insider Buying and Selling at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $290.79, for a total value of $872,370.00. Following the sale, the director now directly owns 1,135,006 shares in the company, valued at approximately $330,048,394.74. This trade represents a 0.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Michael Lawrence Gordon sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $290.31, for a total transaction of $1,451,550.00. Following the sale, the chief financial officer now owns 80,307 shares in the company, valued at $23,313,925.17. This trade represents a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,281 shares of company stock worth $6,657,121. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

Several hedge funds have recently added to or reduced their stakes in MDB. MFA Wealth Advisors LLC bought a new stake in shares of MongoDB in the second quarter valued at approximately $25,000. J.Safra Asset Management Corp boosted its stake in MongoDB by 682.4% in the second quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock valued at $33,000 after buying an additional 116 shares in the last quarter. Quarry LP grew its position in MongoDB by 2,580.0% in the second quarter. Quarry LP now owns 134 shares of the company’s stock valued at $33,000 after acquiring an additional 129 shares during the last quarter. Brooklyn Investment Group acquired a new position in MongoDB during the third quarter worth about $36,000. Finally, Hantz Financial Services Inc. bought a new position in shares of MongoDB in the second quarter worth about $35,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

About MongoDB

MongoDB, Inc, together with its subsidiaries, provides general purpose database platform worldwide. The company provides MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premises, or in a hybrid environment; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.