KeyCorp Forecasts Strong Price Appreciation for MongoDB (NASDAQ:MDB) Stock

MongoDB (NASDAQ:MDB) had its price target boosted by research analysts at KeyCorp from $330.00 to $375.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price objective would suggest a potential upside of 9.20% from the stock’s previous close.

MDB has been the topic of a number of other research reports. Citigroup upped their price objective on MongoDB from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Barclays increased their price target on shares of MongoDB from $290.00 to $345.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Morgan Stanley boosted their price objective on shares of MongoDB from $320.00 to $340.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Scotiabank lifted their price target on MongoDB from $250.00 to $295.00 and gave the stock a “sector perform” rating in a report on Friday, August 30th. Finally, 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. One analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $344.25.

MongoDB Price Performance

NASDAQ MDB opened at $343.40 on Thursday. The firm’s 50 day moving average is $289.30 and its 200-day moving average is $270.54. The company has a quick ratio of 5.03, a current ratio of 5.03 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $25.37 billion, a PE ratio of -113.71 and a beta of 1.17. MongoDB has a 12-month low of $212.74 and a 12-month high of $509.62.

Insiders Place Their Bets

In related news, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $323.00, for a total transaction of $969,000.00. Following the sale, the director now directly owns 1,121,006 shares in the company, valued at $362,084,938. This trade represents a 0.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael Lawrence Gordon sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $290.31, for a total transaction of $1,451,550.00. Following the completion of the transaction, the chief financial officer now owns 80,307 shares of the company’s stock, valued at approximately $23,313,925.17. This trade represents a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,600 shares of company stock valued at $7,538,819. 3.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Nisa Investment Advisors LLC lifted its stake in shares of MongoDB by 3.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the company’s stock valued at $295,000 after purchasing an additional 40 shares during the period. Taylor Frigon Capital Management LLC lifted its stake in MongoDB by 0.4% in the second quarter. Taylor Frigon Capital Management LLC now owns 9,903 shares of the company’s stock valued at $2,475,000 after buying an additional 42 shares during the period. Tanager Wealth Management LLP boosted its holdings in shares of MongoDB by 4.7% during the 3rd quarter. Tanager Wealth Management LLP now owns 957 shares of the company’s stock worth $259,000 after buying an additional 43 shares in the last quarter. Fifth Third Bancorp grew its position in shares of MongoDB by 7.6% during the 2nd quarter. Fifth Third Bancorp now owns 620 shares of the company’s stock worth $155,000 after buying an additional 44 shares during the period. Finally, Clarius Group LLC increased its stake in shares of MongoDB by 5.1% in the 2nd quarter. Clarius Group LLC now owns 943 shares of the company’s stock valued at $236,000 after acquiring an additional 46 shares in the last quarter. Institutional investors and hedge funds 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.