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

MongoDB (NASDAQ:MDB) had its price objective raised by Loop Capital from $315.00 to $400.00 in a research report report published on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities research analysts also recently issued research reports about the company. Wells Fargo & Company raised their price objective on MongoDB from $300.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. Wedbush raised shares of MongoDB to a “strong-buy” rating in a report on Thursday, October 17th. Citigroup upped their price objective on shares of MongoDB from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. UBS Group lifted their price target on MongoDB from $250.00 to $275.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Finally, Needham & Company LLC upped their target price on MongoDB from $290.00 to $335.00 and gave the company a “buy” 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 issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $343.83.

MongoDB Stock Performance

MDB stock opened at $325.15 on Monday. The company has a debt-to-equity ratio of 0.84, a current ratio of 5.03 and a quick ratio of 5.03. MongoDB has a 1-year low of $212.74 and a 1-year high of $509.62. The business has a 50-day moving average price of $284.45 and a 200 day moving average price of $270.10. The company has a market capitalization of $24.02 billion, a P/E ratio of -107.67 and a beta of 1.15.

Insiders Place Their Bets

In related news, CRO Cedric Pech sold 302 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total transaction of $77,387.50. Following the completion of the sale, the executive now directly owns 33,440 shares of the company’s stock, valued at approximately $8,569,000. This trade represents a 0.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dwight A. Merriman sold 3,000 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total transaction of $768,750.00. Following the completion of the sale, the director now owns 1,131,006 shares in the company, valued at approximately $289,820,287.50. This trade represents a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,600 shares of company stock valued at $6,569,819. Insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

A number of institutional investors and hedge funds have recently made changes to their positions in MDB. Atria Investments Inc grew its position in 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 acquiring an additional 39 shares in the last quarter. Cetera Investment Advisers increased its stake in MongoDB by 327.6% during the 1st quarter. Cetera Investment Advisers now owns 10,873 shares of the company’s stock worth $3,899,000 after buying an additional 8,330 shares during the period. Cetera Advisors LLC lifted its holdings in MongoDB by 106.9% during the 1st quarter. Cetera Advisors LLC now owns 1,558 shares of the company’s stock worth $559,000 after buying an additional 805 shares in the last quarter. Fulton Bank N.A. boosted its position in MongoDB by 7.7% in the 2nd quarter. Fulton Bank N.A. now owns 1,135 shares of the company’s stock valued at $284,000 after buying an additional 81 shares during the period. Finally, Harbor Capital Advisors Inc. grew its stake in shares of MongoDB by 26.2% in the second quarter. Harbor Capital Advisors Inc. now owns 3,579 shares of the company’s stock worth $895,000 after acquiring an additional 742 shares in the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

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.