MongoDB (NASDAQ:MDB) Price Target Raised to $350.00

MongoDB (NASDAQ:MDB) had its price target upped by Morgan Stanley from $340.00 to $350.00 in a research report report published on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts have also recently commented on the company. Wells Fargo & Company raised their target price on MongoDB from $300.00 to $350.00 and gave the stock an “overweight” rating in a research note 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 report on Friday, August 30th. Sanford C. Bernstein lifted their price target on MongoDB from $358.00 to $360.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. KeyCorp lifted their price target on MongoDB from $330.00 to $375.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, Scotiabank raised their target price on MongoDB from $250.00 to $295.00 and gave the stock a “sector perform” rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $370.08.

MongoDB Price Performance

MDB opened at $288.61 on Tuesday. The company has a fifty day moving average price of $293.13 and a two-hundred day moving average price of $269.12. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.03 and a current ratio of 5.03. MongoDB has a 52 week low of $212.74 and a 52 week high of $509.62. The firm has a market capitalization of $21.32 billion, a PE ratio of -95.57 and a beta of 1.17.

MongoDB (NASDAQ:MDB) last released its earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.48. The firm had revenue of $529.40 million during the quarter, compared to analyst estimates of $497.39 million. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The business’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.96 EPS. As a group, analysts anticipate that MongoDB will post -2.37 earnings per share for the current year.

Insider Transactions at MongoDB

In related news, CAO Thomas Bull sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $355.92, for a total value of $355,920.00. Following the sale, the chief accounting officer now directly owns 15,068 shares in the company, valued at $5,363,002.56. This represents a 6.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Michael Lawrence Gordon sold 5,000 shares of the business’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 value of $1,451,550.00. Following the completion of the transaction, the chief financial officer now directly 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,600 shares of company stock valued at $7,611,849. 3.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MDB. Jennison Associates LLC raised its holdings in shares of MongoDB by 23.6% during the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock valued at $838,632,000 after buying an additional 592,038 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of MongoDB by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock worth $331,776,000 after purchasing an additional 34,814 shares during the last quarter. Swedbank AB grew its holdings in shares of MongoDB by 156.3% in the second quarter. Swedbank AB now owns 656,993 shares of the company’s stock worth $164,222,000 after acquiring an additional 400,705 shares during the period. Westfield Capital Management Co. LP grew its holdings in shares of MongoDB by 1.5% in the third quarter. Westfield Capital Management Co. LP now owns 496,248 shares of the company’s stock worth $134,161,000 after acquiring an additional 7,526 shares during the period. Finally, Thrivent Financial for Lutherans grew its holdings in MongoDB by 1,098.1% during the second quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock valued at $106,084,000 after purchasing an additional 388,979 shares during the period. 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.