MongoDB (NASDAQ:MDB) Price Target Raised to $385.00

MongoDB (NASDAQ:MDB) had its price objective upped by investment analysts at Canaccord Genuity Group from $325.00 to $385.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 27.00% from the company’s current price.

A number of other research analysts have also issued reports on the company. Citigroup lifted their target price on MongoDB from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. KeyCorp increased their target price on MongoDB from $330.00 to $375.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. UBS Group raised their price objective on MongoDB from $250.00 to $275.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Stifel Nicolaus raised their price objective on MongoDB from $325.00 to $360.00 and gave the company a “buy” rating in a research report on Monday. Finally, Wedbush upgraded MongoDB to a “strong-buy” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, MongoDB has a consensus rating of “Moderate Buy” and an average price target of $372.88.

MongoDB Trading Up 4.2 %

Shares of MongoDB stock traded up $12.24 on Wednesday, reaching $303.14. The company had a trading volume of 2,075,940 shares, compared to its average volume of 1,507,459. The firm’s 50-day moving average price is $291.56 and its two-hundred day moving average price is $268.79. MongoDB has a 1 year low of $212.74 and a 1 year high of $509.62. The company has a debt-to-equity ratio of 0.84, a current ratio of 5.03 and a quick ratio of 5.03. The firm has a market cap of $22.39 billion, a price-to-earnings ratio of -100.38 and a beta of 1.17.

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

Insider Activity at MongoDB

In related news, CAO Thomas Bull sold 154 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total value of $39,462.50. Following the completion of the transaction, the chief accounting officer now owns 16,068 shares of the company’s stock, valued at approximately $4,117,425. This trade represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Dev Ittycheria sold 3,556 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total transaction of $911,225.00. Following the completion of the transaction, the chief executive officer now directly owns 219,875 shares of the company’s stock, valued at approximately $56,342,968.75. This trade represents a 1.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,600 shares of company stock worth $7,255,929 over the last ninety days. Company insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

A number of institutional investors have recently bought and sold shares of the business. MFA Wealth Advisors LLC acquired a new position in shares of MongoDB during the second quarter valued at about $25,000. J.Safra Asset Management Corp boosted its stake in shares of MongoDB by 682.4% in the 2nd quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock valued at $33,000 after purchasing an additional 116 shares in the last quarter. Quarry LP raised its stake in shares of MongoDB by 2,580.0% during the second quarter. Quarry LP now owns 134 shares of the company’s stock valued at $33,000 after acquiring an additional 129 shares during the last quarter. Hantz Financial Services Inc. purchased a new stake in MongoDB in the second quarter worth about $35,000. Finally, Brooklyn Investment Group purchased a new stake in MongoDB in the third quarter worth approximately $36,000. 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.