Analysts Set MongoDB, Inc. (NASDAQ:MDB) Target Price at $337.56

Shares of MongoDB, Inc. (NASDAQ:MDB) have received an average recommendation of “Moderate Buy” from the twenty-six ratings firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and twenty have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $337.56.

Several equities analysts have recently commented on MDB shares. Scotiabank boosted their target price on shares of MongoDB from $250.00 to $295.00 and gave the company a “sector perform” rating in a research report on Friday, August 30th. Bank of America upped their target price on MongoDB from $300.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. DA Davidson lifted their price target on MongoDB from $265.00 to $330.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Needham & Company LLC raised their price objective on MongoDB from $290.00 to $335.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, Oppenheimer lifted their target price on MongoDB from $300.00 to $350.00 and gave the company an “outperform” rating in a research report on Friday, August 30th.

Insider Buying and Selling

In other MongoDB news, CAO Thomas Bull sold 1,000 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $282.89, for a total transaction of $282,890.00. Following the completion of the sale, the chief accounting officer now owns 16,222 shares in the company, valued at approximately $4,589,041.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other MongoDB news, CAO Thomas Bull sold 1,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 16,222 shares of the company’s stock, valued at approximately $4,589,041.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Dennis Mcmahon sold 10,000 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $228.00, for a total value of $2,280,000.00. Following the completion of the sale, the director now directly owns 20,020 shares of the company’s stock, valued at $4,564,560. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,005 shares of company stock valued at $8,082,746. 3.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On MongoDB

Several hedge funds have recently modified their holdings of MDB. Vanguard Group Inc. raised its stake in shares of MongoDB by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 6,910,761 shares of the company’s stock worth $2,478,475,000 after purchasing an additional 68,348 shares during the period. Jennison Associates LLC raised its position in MongoDB by 14.3% in the first quarter. Jennison Associates LLC now owns 4,408,424 shares of the company’s stock worth $1,581,037,000 after acquiring an additional 551,567 shares during the period. Norges Bank purchased a new position in MongoDB in the fourth quarter valued at about $326,237,000. Swedbank AB boosted its stake in MongoDB by 156.3% in the second quarter. Swedbank AB now owns 656,993 shares of the company’s stock valued at $164,222,000 after acquiring an additional 400,705 shares during the last quarter. Finally, Champlain Investment Partners LLC grew its position in shares of MongoDB by 22.4% during the 1st quarter. Champlain Investment Partners LLC now owns 550,684 shares of the company’s stock valued at $197,497,000 after acquiring an additional 100,725 shares during the period. Institutional investors own 89.29% of the company’s stock.

MongoDB Stock Performance

NASDAQ:MDB opened at $283.86 on Tuesday. The stock has a 50 day simple moving average of $258.55 and a 200 day simple moving average of $299.79. The stock has a market cap of $20.82 billion, a P/E ratio of -101.02 and a beta of 1.15. MongoDB has a 1-year low of $212.74 and a 1-year high of $509.62. The company has a current ratio of 5.03, a quick ratio of 5.03 and a debt-to-equity ratio of 0.84.

MongoDB (NASDAQ:MDB) last posted 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 the consensus estimate of $465.03 million. During the same quarter in the previous year, the firm posted ($0.63) EPS. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. Research analysts anticipate that MongoDB will post -2.46 earnings per share for the current year.

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.