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

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

A number of other research firms also recently commented on MDB. Needham & Company LLC raised their target price on MongoDB from $290.00 to $335.00 and gave the company a “buy” rating in a report on Friday, August 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $350.00 price target on shares of MongoDB in a research report on Friday, August 30th. Barclays boosted their target price on MongoDB from $290.00 to $345.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. UBS Group raised their price target on MongoDB from $250.00 to $275.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Finally, Wedbush raised shares of MongoDB to a “strong-buy” rating in a research note on Thursday, October 17th. 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, MongoDB currently has an average rating of “Moderate Buy” and an average price target of $340.29.

MongoDB Price Performance

MongoDB stock opened at $322.49 on Tuesday. The company has a debt-to-equity ratio of 0.84, a current ratio of 5.03 and a quick ratio of 5.03. The stock has a market capitalization of $23.82 billion, a PE ratio of -106.78 and a beta of 1.15. The business has a 50 day simple moving average of $283.54 and a 200-day simple moving average of $271.77. MongoDB has a 12 month low of $212.74 and a 12 month 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 for the quarter, beating analysts’ consensus estimates of $0.49 by $0.21. The company had revenue of $478.11 million for 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%. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.63) EPS. Equities analysts predict that MongoDB will post -2.37 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Michael Lawrence Gordon sold 5,000 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $290.31, for a total value of $1,451,550.00. Following the completion of the sale, the chief financial officer now owns 80,307 shares in the company, valued at approximately $23,313,925.17. This trade represents a 5.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dwight A. Merriman sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $290.79, for a total value of $872,370.00. Following the transaction, the director now directly owns 1,135,006 shares in the company, valued at $330,048,394.74. This trade represents a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,600 shares of company stock worth $7,442,189 over the last ninety days. 3.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On MongoDB

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MDB. Tidal Investments LLC lifted its holdings in MongoDB by 76.8% in the 3rd quarter. Tidal Investments LLC now owns 7,859 shares of the company’s stock worth $2,125,000 after buying an additional 3,415 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of MongoDB during the third quarter worth about $44,000. Virtu Financial LLC lifted its stake in shares of MongoDB by 351.2% in the third quarter. Virtu Financial LLC now owns 10,016 shares of the company’s stock worth $2,708,000 after acquiring an additional 7,796 shares in the last quarter. Teachers Retirement System of The State of Kentucky purchased a new position in MongoDB in the third quarter valued at about $5,840,000. Finally, Toronto Dominion Bank grew its stake in MongoDB by 21.9% during the 3rd quarter. Toronto Dominion Bank now owns 9,462 shares of the company’s stock valued at $2,558,000 after purchasing an additional 1,699 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.