MongoDB (NASDAQ:MDB) Given New $360.00 Price Target at Stifel Nicolaus

MongoDB (NASDAQ:MDB) had its price objective hoisted by Stifel Nicolaus from $325.00 to $360.00 in a report released on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts have also recently issued reports about the stock. Citigroup upped their target price on shares of MongoDB from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Wells Fargo & Company boosted their price objective on MongoDB from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Oppenheimer raised their target price on shares of MongoDB from $300.00 to $350.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Wedbush raised shares of MongoDB to a “strong-buy” rating in a research note on Thursday, October 17th. Finally, Bank of America lifted their target price on shares of MongoDB from $300.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $345.71.

MongoDB Stock Performance

MongoDB stock opened at $350.13 on Monday. The stock’s 50 day moving average is $290.90 and its 200 day moving average is $269.20. The company has a market capitalization of $25.86 billion, a P/E ratio of -115.94 and a beta of 1.17. MongoDB has a twelve month low of $212.74 and a twelve month high of $509.62. The company has a quick ratio of 5.03, a current ratio of 5.03 and a debt-to-equity ratio of 0.84.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.48. The company had revenue of $529.40 million during the quarter, compared to the consensus estimate of $497.39 million. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The firm’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.96 earnings per share. On average, equities research analysts predict that MongoDB will post -2.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $323.00, for a total value of $969,000.00. Following the completion of the sale, the director now owns 1,121,006 shares of the company’s stock, valued at approximately $362,084,938. This trade represents a 0.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Thomas Bull sold 154 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $39,462.50. Following the completion of the sale, the chief accounting officer now directly owns 16,068 shares of the company’s stock, valued at $4,117,425. This trade represents a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,600 shares of company stock worth $7,255,929 in the last 90 days. Insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

A number of institutional investors and hedge funds have recently bought and sold shares of MDB. Jennison Associates LLC raised its holdings in shares of MongoDB by 23.6% in the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock valued at $838,632,000 after purchasing an additional 592,038 shares in the last quarter. Geode Capital Management LLC boosted its holdings in MongoDB by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock valued at $331,776,000 after purchasing an additional 34,814 shares in the last quarter. Swedbank AB increased 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 purchasing an additional 400,705 shares during the last quarter. Westfield Capital Management Co. LP lifted its position in shares of MongoDB by 1.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 496,248 shares of the company’s stock worth $134,161,000 after buying an additional 7,526 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in shares of MongoDB by 1,098.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock valued at $106,084,000 after buying an additional 388,979 shares in the last quarter. 89.29% of the stock is currently 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.