MongoDB (NASDAQ:MDB) Given New $345.00 Price Target at Barclays

MongoDB (NASDAQ:MDB) had its price objective lifted by Barclays from $290.00 to $345.00 in a research report released on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other analysts have also recently issued research reports about the stock. Morgan Stanley boosted their target price on shares of MongoDB from $320.00 to $340.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Wedbush raised shares of MongoDB to a “strong-buy” rating in a report on Thursday, October 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $350.00 price target on shares of MongoDB in a report on Friday, August 30th. Wells Fargo & Company increased 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. Finally, Scotiabank upped their price target on MongoDB from $250.00 to $295.00 and gave the company a “sector perform” rating in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $336.54.

MongoDB Price Performance

Shares of MDB traded down $11.82 during midday trading on Friday, hitting $279.77. The company’s stock had a trading volume of 1,764,369 shares, compared to its average volume of 1,432,002. 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 one year low of $212.74 and a one year high of $509.62. The stock has a market capitalization of $20.67 billion, a price-to-earnings ratio of -92.64 and a beta of 1.15. The company’s fifty day simple moving average is $278.10 and its two-hundred day simple moving average is $274.93.

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

Insider Transactions at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 3,000 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $269.57, for a total value of $808,710.00. Following the completion of the transaction, the director now directly owns 1,127,006 shares of the company’s stock, valued at $303,807,007.42. This trade represents a 0.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael Lawrence Gordon sold 5,000 shares of the company’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 80,307 shares in the company, valued at approximately $23,313,925.17. The trade was a 5.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,281 shares of company stock valued at $6,657,121 over the last three months. Company insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

A number of hedge funds and other institutional investors have recently bought and sold shares of MDB. Empowered Funds LLC increased its position in shares of MongoDB by 75.4% during the 1st quarter. Empowered Funds LLC now owns 1,121 shares of the company’s stock valued at $402,000 after purchasing an additional 482 shares during the last quarter. Intech Investment Management LLC raised its stake in shares of MongoDB by 40.0% during the first quarter. Intech Investment Management LLC now owns 5,814 shares of the company’s stock worth $2,085,000 after acquiring an additional 1,661 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of MongoDB by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 6,910,761 shares of the company’s stock worth $2,478,475,000 after acquiring an additional 68,348 shares during the last quarter. Cynosure Group LLC bought a new stake in shares of MongoDB in the 1st quarter worth approximately $313,000. Finally, Champlain Investment Partners LLC boosted its stake in shares of MongoDB by 22.4% in the 1st quarter. Champlain Investment Partners LLC now owns 550,684 shares of the company’s stock valued at $197,497,000 after purchasing an additional 100,725 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

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.