MongoDB (NASDAQ:MDB) Price Target Raised to $425.00

MongoDB (NASDAQ:MDB) had its target price hoisted by Piper Sandler from $335.00 to $425.00 in a research note published on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other analysts have also issued reports about the company. Wells Fargo & Company boosted their price objective on MongoDB from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Citigroup increased their price target on MongoDB from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. UBS Group lifted their price objective on shares of MongoDB from $250.00 to $275.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Needham & Company LLC increased their target price on shares of MongoDB from $290.00 to $335.00 and gave the company a “buy” rating in a report on Friday, August 30th. Finally, Truist Financial raised their price target on shares of MongoDB from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, MongoDB presently has a consensus rating of “Moderate Buy” and a consensus price target of $340.29.

MongoDB Price Performance

Shares of MDB opened at $324.60 on Tuesday. The stock has a market cap of $23.98 billion, a P/E ratio of -107.48 and a beta of 1.15. The business’s fifty day moving average is $282.65 and its 200 day moving average is $272.02. The company has a quick ratio of 5.03, a current ratio of 5.03 and a debt-to-equity ratio of 0.84. MongoDB has a 12-month low of $212.74 and a 12-month high of $509.62.

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

Insider Activity

In related news, CAO Thomas Bull sold 1,000 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $282.89, for a total transaction of $282,890.00. Following the sale, the chief accounting officer now directly owns 16,222 shares in the company, valued at approximately $4,589,041.58. The trade was a 5.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Cedric Pech sold 302 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $77,387.50. Following the completion of the transaction, the executive now owns 33,440 shares of the company’s stock, valued at approximately $8,569,000. This represents a 0.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,600 shares of company stock valued at $7,442,189 over the last quarter. Company insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

Several institutional investors and hedge funds have recently bought and sold shares of MDB. MFA Wealth Advisors LLC bought a new position in shares of MongoDB in the second quarter worth $25,000. J.Safra Asset Management Corp increased its stake in MongoDB by 682.4% in the 2nd quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock worth $33,000 after acquiring an additional 116 shares during the last quarter. Quarry LP increased its stake in MongoDB by 2,580.0% in the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after acquiring an additional 129 shares during the last quarter. Hantz Financial Services Inc. purchased a new stake in shares of MongoDB in the 2nd quarter valued at about $35,000. Finally, Brooklyn Investment Group bought a new stake in shares of MongoDB during the 3rd quarter valued at about $36,000. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

MongoDB Company Profile

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.