MongoDB (NASDAQ:MDB) Price Target Raised to $400.00

MongoDB (NASDAQ:MDB) had its price objective raised by Loop Capital from $315.00 to $400.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Loop Capital’s price target would indicate a potential upside of 21.42% from the stock’s current price.

Several other analysts have also commented on the company. Scotiabank boosted their price target on MongoDB from $250.00 to $295.00 and gave the company a “sector perform” rating in a research note on Friday, August 30th. DA Davidson increased their target price on MongoDB from $330.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Barclays raised their target price on shares of MongoDB from $290.00 to $345.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Needham & Company LLC boosted their price target on MongoDB from $290.00 to $335.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, Oppenheimer upped their price objective on MongoDB from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $343.83.

MongoDB Stock Performance

MDB stock traded up $6.94 during mid-day trading on Monday, reaching $329.43. The company had a trading volume of 196,636 shares, compared to its average volume of 1,444,640. The stock’s 50-day simple moving average is $283.54 and its two-hundred day simple moving average is $270.41. The stock has a market capitalization of $24.33 billion, a P/E ratio of -109.08 and a beta of 1.15. 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.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.21. The business had revenue of $478.11 million during 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 quarterly revenue was up 12.8% compared to the same quarter last year. During the same period last year, the company earned ($0.63) earnings per share. Research analysts anticipate that MongoDB will post -2.37 EPS for the current year.

Insider Activity

In other news, CAO Thomas Bull sold 154 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $39,462.50. Following the sale, the chief accounting officer now directly owns 16,068 shares in the company, valued at approximately $4,117,425. This represents a 0.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Dwight A. Merriman sold 2,000 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $349.17, for a total value of $698,340.00. Following the completion of the transaction, the director now owns 1,124,006 shares in the company, valued at $392,469,175.02. The trade was a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,600 shares of company stock worth $7,442,189. 3.60% of the stock is currently owned by corporate insiders.

Institutional Trading of MongoDB

Several institutional investors and hedge funds have recently bought and sold shares of MDB. Atria Investments Inc grew its position in shares of MongoDB by 1.2% in the 1st quarter. Atria Investments Inc now owns 3,259 shares of the company’s stock valued at $1,169,000 after buying an additional 39 shares during the last quarter. Cetera Investment Advisers increased its stake in MongoDB by 327.6% in the first quarter. Cetera Investment Advisers now owns 10,873 shares of the company’s stock valued at $3,899,000 after acquiring an additional 8,330 shares during the last quarter. Cetera Advisors LLC grew its holdings in shares of MongoDB by 106.9% during the 1st quarter. Cetera Advisors LLC now owns 1,558 shares of the company’s stock valued at $559,000 after purchasing an additional 805 shares during the last quarter. Fulton Bank N.A. raised its position in MongoDB by 7.7% during the 2nd quarter. Fulton Bank N.A. now owns 1,135 shares of the company’s stock valued at $284,000 after purchasing an additional 81 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in MongoDB by 26.2% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 3,579 shares of the company’s stock valued at $895,000 after acquiring an additional 742 shares during the period. 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.