Citigroup Issues Positive Forecast for MongoDB (NASDAQ:MDB) Stock Price

MongoDB (NASDAQ:MDB) had its price objective boosted by Citigroup from $400.00 to $430.00 in a research report released on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

MDB has been the topic of a number of other research reports. Needham & Company LLC increased their price objective on shares of MongoDB from $335.00 to $415.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group increased their price target on MongoDB from $340.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Macquarie initiated coverage on MongoDB in a research note on Thursday, December 12th. They issued a “neutral” rating and a $300.00 price target on the stock. Oppenheimer upped their price objective on MongoDB from $350.00 to $400.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Finally, Robert W. Baird raised their target price on MongoDB from $380.00 to $390.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $365.63.

MongoDB Price Performance

NASDAQ:MDB opened at $265.63 on Monday. MongoDB has a one year low of $212.74 and a one year high of $509.62. The company’s 50-day simple moving average is $293.17 and its 200 day simple moving average is $267.61. The firm has a market capitalization of $19.62 billion, a P/E ratio of -97.69 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 the consensus estimate of $0.68 by $0.48. The business had revenue of $529.40 million for the quarter, compared to the consensus estimate of $497.39 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.96 earnings per share. On average, equities research analysts expect that MongoDB will post -2.29 earnings per share for the current fiscal year.

Insider Transactions at MongoDB

In related news, CRO Cedric Pech sold 302 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total transaction of $77,387.50. Following the sale, the executive now owns 33,440 shares in the company, valued at approximately $8,569,000. This represents a 0.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Thomas Bull sold 154 shares of MongoDB stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total transaction of $39,462.50. Following the transaction, the chief accounting officer now directly owns 16,068 shares of the company’s stock, valued at $4,117,425. The trade was a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,600 shares of company stock valued at $7,611,849 in the last ninety days. Corporate insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

Several institutional investors and hedge funds have recently made changes to their positions in MDB. Jennison Associates LLC boosted its holdings in shares of MongoDB by 23.6% in the third 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 during the period. Thrivent Financial for Lutherans increased its holdings in MongoDB by 1,098.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock worth $106,084,000 after purchasing an additional 388,979 shares during the period. Point72 Asset Management L.P. bought a new stake in MongoDB during the 2nd quarter valued at $52,131,000. Avala Global LP purchased a new stake in shares of MongoDB in the 3rd quarter worth $47,960,000. Finally, Renaissance Technologies LLC grew its position in shares of MongoDB by 828.9% during the 2nd quarter. Renaissance Technologies LLC now owns 183,000 shares of the company’s stock worth $45,743,000 after buying an additional 163,300 shares in the last quarter. 89.29% of the stock is currently owned by 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.