Barclays Increases MongoDB (NASDAQ:MDB) Price Target to $345.00

MongoDB (NASDAQ:MDB) had its target price lifted by analysts at Barclays from $290.00 to $345.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 23.32% from the company’s current price.

A number of other equities analysts have also recently weighed in on MDB. Wells Fargo & Company increased their price objective on shares of MongoDB from $300.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. Wedbush raised shares of MongoDB to a “strong-buy” rating in a research report on Thursday, October 17th. Piper Sandler raised their price target on shares of MongoDB from $300.00 to $335.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. Morgan Stanley raised their price target on shares of MongoDB from $320.00 to $340.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. Finally, Citigroup raised their price objective on shares of MongoDB from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, MongoDB presently has an average rating of “Moderate Buy” and an average price target of $336.54.

MongoDB Stock Down 4.1 %

MDB opened at $279.77 on Friday. MongoDB has a fifty-two week low of $212.74 and a fifty-two week high of $509.62. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.03 and a current ratio of 5.03. The company has a fifty day moving average of $278.10 and a two-hundred day moving average of $274.93. The stock has a market capitalization of $20.67 billion, a price-to-earnings ratio of -92.64 and a beta of 1.15.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Thursday, August 29th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.21. The company had revenue of $478.11 million during the quarter, compared to analysts’ expectations of $465.03 million. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.63) earnings per share. On average, research analysts expect that MongoDB will post -2.39 earnings per share for the current year.

Insider Buying and Selling at MongoDB

In other MongoDB news, 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 transaction of $39,462.50. Following the completion of the sale, the chief accounting officer now 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Dwight A. Merriman sold 3,000 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $269.57, for a total value of $808,710.00. Following the sale, the director now directly owns 1,127,006 shares of the company’s stock, valued at $303,807,007.42. This represents a 0.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,281 shares of company stock worth $6,657,121. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MDB. Jennison Associates LLC boosted its stake in shares of MongoDB by 23.6% during 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 in the last quarter. Swedbank AB boosted its stake in shares of MongoDB by 156.3% during 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 in the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of 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 in the last quarter. Clearbridge Investments LLC boosted its stake in shares of MongoDB by 109.0% during the first quarter. Clearbridge Investments LLC now owns 445,084 shares of the company’s stock valued at $159,625,000 after purchasing an additional 232,101 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of MongoDB during the second quarter valued at about $52,131,000. 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.