MongoDB (NASDAQ:MDB) Price Target Increased to $340.00 by Analysts at DA Davidson

MongoDB (NASDAQ:MDB) had its price objective upped by DA Davidson from $330.00 to $340.00 in a report issued on Friday morning, Benzinga reports. DA Davidson currently has a buy rating on the stock.

Several other brokerages have also weighed in on MDB. Tigress Financial dropped their target price on MongoDB from $500.00 to $400.00 and set a buy rating on the stock in a research report on Thursday, July 11th. Bank of America lifted their price objective on shares of MongoDB from $300.00 to $350.00 and gave the company a buy rating in a research report on Friday, August 30th. Royal Bank of Canada restated an outperform rating and issued a $350.00 target price on shares of MongoDB in a research report on Friday, August 30th. Scotiabank lifted their price target on MongoDB from $250.00 to $295.00 and gave the company a sector perform rating in a report on Friday, August 30th. Finally, Stifel Nicolaus increased their price objective on MongoDB from $300.00 to $325.00 and gave the stock a buy rating in a report on Friday, August 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, MongoDB has a consensus rating of Moderate Buy and a consensus target price of $337.96.

MongoDB Price Performance

Shares of MDB opened at $289.14 on Friday. MongoDB has a 52 week low of $212.74 and a 52 week 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. The firm has a market cap of $21.21 billion, a price-to-earnings ratio of -102.90 and a beta of 1.15. The stock has a 50 day moving average of $266.49 and a 200-day moving average of $286.66.

MongoDB (NASDAQ:MDB) last issued its earnings results on Thursday, August 29th. The company reported $0.70 earnings per share for the quarter, topping 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 company had revenue of $478.11 million for the quarter, compared to analysts’ expectations of $465.03 million. During the same period in the prior year, the company earned ($0.63) earnings per share. The firm’s revenue was up 12.8% compared to the same quarter last year. As a group, analysts forecast that MongoDB will post -2.44 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Dev Ittycheria sold 3,556 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total value of $911,225.00. Following the completion of the sale, the chief executive officer now owns 219,875 shares in the company, valued at approximately $56,342,968.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Dwight A. Merriman sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $231.00, for a total transaction of $462,000.00. Following the completion of the sale, the director now directly owns 1,140,006 shares in the company, valued at approximately $263,341,386. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Dev Ittycheria sold 3,556 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total transaction of $911,225.00. Following the completion of the transaction, the chief executive officer now owns 219,875 shares in the company, valued at approximately $56,342,968.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,896 shares of company stock worth $4,187,260. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

Several large investors have recently made changes to their positions in the company. Transcendent Capital Group LLC bought a new position in shares of MongoDB in the 4th quarter valued at approximately $25,000. MFA Wealth Advisors LLC acquired a new stake in shares of MongoDB in the second quarter worth $25,000. J.Safra Asset Management Corp boosted its holdings in shares of MongoDB by 682.4% during the 2nd quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock worth $33,000 after buying an additional 116 shares during the period. Quarry LP grew its stake in MongoDB by 2,580.0% in the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock valued at $33,000 after buying an additional 129 shares during the last quarter. Finally, Hantz Financial Services Inc. bought a new position in MongoDB in the 2nd quarter worth $35,000. 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.