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

MongoDB (NASDAQ:MDB) had its target price increased by Barclays from $375.00 to $400.00 in a report released on Tuesday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other brokerages have also commented on MDB. DA Davidson raised their price objective on MongoDB from $330.00 to $340.00 and gave the company a “buy” rating in a report on Friday, October 11th. Wedbush raised MongoDB to a “strong-buy” rating in a research note on Thursday, October 17th. Piper Sandler lifted their price target on MongoDB from $335.00 to $425.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. KeyCorp lifted their price target on MongoDB from $330.00 to $375.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $350.00 price target on shares of MongoDB in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $370.08.

MongoDB Trading Down 2.9 %

Shares of NASDAQ:MDB opened at $288.61 on Tuesday. MongoDB has a 52-week low of $212.74 and a 52-week high of $509.62. The stock has a market cap of $21.32 billion, a price-to-earnings ratio of -95.57 and a beta of 1.17. 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 business has a 50-day moving average price of $293.13 and a 200-day moving average price of $269.12.

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 analysts’ expectations of $497.39 million. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. MongoDB’s quarterly revenue was up 22.3% on a year-over-year basis. During the same period last year, the business earned $0.96 earnings per share. Equities analysts predict that MongoDB will post -2.37 EPS for the current year.

Insider Buying and Selling at MongoDB

In other news, CAO Thomas Bull sold 154 shares of the firm’s stock in a transaction that occurred 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Cedric Pech sold 302 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total value 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 $8,569,000. This represents a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,600 shares of company stock worth $7,611,849. 3.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MongoDB

Several hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC grew its position in shares of MongoDB by 3.8% in the third 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 grew its position in shares of 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 purchasing an additional 42 shares during the period. Tanager Wealth Management LLP grew its position in shares of MongoDB by 4.7% in the third quarter. Tanager Wealth Management LLP now owns 957 shares of the company’s stock valued at $259,000 after purchasing an additional 43 shares during the period. Fifth Third Bancorp grew its position in shares of MongoDB by 7.6% in the second quarter. Fifth Third Bancorp now owns 620 shares of the company’s stock valued at $155,000 after purchasing an additional 44 shares during the period. Finally, Rakuten Securities Inc. grew its position in shares of MongoDB by 16.5% in the third quarter. Rakuten Securities Inc. now owns 332 shares of the company’s stock valued at $90,000 after purchasing an additional 47 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.

About MongoDB

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.