MongoDB (NASDAQ:MDB) Stock Price Expected to Rise, Tigress Financial Analyst Says

MongoDB (NASDAQ:MDB) had its price target lifted by analysts at Tigress Financial from $400.00 to $430.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Tigress Financial’s price objective would suggest a potential upside of 75.51% from the stock’s previous close.

Several other research analysts have also issued reports on the company. Oppenheimer raised their price target on MongoDB from $350.00 to $400.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Bank of America boosted their target price on MongoDB from $300.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Wedbush upgraded shares of MongoDB to a “strong-buy” rating in a research report on Thursday, October 17th. Macquarie began coverage on shares of MongoDB in a research note on Thursday, December 12th. They set a “neutral” rating and a $300.00 price objective on the stock. Finally, Truist Financial reaffirmed a “buy” rating and issued a $400.00 target price (up previously from $320.00) on shares of MongoDB in a research note on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, MongoDB currently has a consensus rating of “Moderate Buy” and an average target price of $366.14.

MongoDB Trading Down 3.0 %

Shares of MDB stock opened at $245.00 on Wednesday. MongoDB has a 1 year low of $212.74 and a 1 year high of $509.62. The firm’s 50 day moving average is $291.99 and its 200-day moving average is $267.25. The firm has a market capitalization of $18.10 billion, a price-to-earnings ratio of -89.42 and a beta of 1.17.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.48. The firm 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 business’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.96 EPS. On average, equities research analysts forecast that MongoDB will post -2.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In other MongoDB news, Director Hope F. Cochran sold 1,175 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $266.99, for a total transaction of $313,713.25. Following the sale, the director now directly owns 17,570 shares of the company’s stock, valued at approximately $4,691,014.30. This represents a 6.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Dwight A. Merriman sold 3,000 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total transaction of $768,750.00. Following the transaction, the director now owns 1,131,006 shares in the company, valued at $289,820,287.50. This represents a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,775 shares of company stock worth $9,264,812. Corporate insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP increased its position in MongoDB by 2,580.0% during the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after buying an additional 129 shares during the period. Hantz Financial Services Inc. bought a new position in MongoDB during the second quarter worth about $35,000. Brooklyn Investment Group acquired a new stake in MongoDB in the 3rd quarter worth about $36,000. GAMMA Investing LLC boosted its holdings in MongoDB by 178.8% in the 3rd quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock valued at $39,000 after purchasing an additional 93 shares during the period. Finally, Continuum Advisory LLC grew its position in shares of MongoDB by 621.1% during the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock worth $40,000 after purchasing an additional 118 shares in the last quarter. 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.