MongoDB (NASDAQ:MDB) Price Target Raised to $390.00 at Robert W. Baird

MongoDB (NASDAQ:MDB) had its price target upped by Robert W. Baird from $380.00 to $390.00 in a research note released on Tuesday,Benzinga reports. The firm currently has an outperform rating on the stock.

Other equities analysts have also recently issued reports about the company. JMP Securities reiterated a “market outperform” rating and issued a $380.00 price target on shares of MongoDB in a research report on Friday, August 30th. Oppenheimer lifted their target price on MongoDB from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Stifel Nicolaus upped their price target on MongoDB from $325.00 to $360.00 and gave the company a “buy” rating in a research report on Monday. Mizuho raised their price objective on shares of MongoDB from $275.00 to $320.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Morgan Stanley upped their target price on shares of MongoDB from $340.00 to $350.00 and gave the stock an “overweight” rating in a report on Tuesday. One analyst has 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $370.48.

MongoDB Trading Down 16.9 %

Shares of MongoDB stock opened at $290.90 on Tuesday. 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 stock has a market capitalization of $21.49 billion, a P/E ratio of -96.32 and a beta of 1.17. MongoDB has a 52-week low of $212.74 and a 52-week high of $509.62. The stock’s 50-day simple moving average is $291.56 and its 200 day simple moving average is $268.79.

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

Insider Activity at MongoDB

In related news, Director Dwight A. Merriman sold 2,000 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $349.17, for a total transaction of $698,340.00. Following the completion of the sale, the director now directly owns 1,124,006 shares in the company, valued at $392,469,175.02. This represents a 0.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Thomas Bull sold 154 shares of MongoDB 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 transaction, the chief accounting officer now directly owns 16,068 shares in the company, valued at $4,117,425. This trade represents a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,600 shares of company stock valued at $7,255,929. Insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MDB. MFA Wealth Advisors LLC purchased a new position in shares of MongoDB in the second quarter valued at about $25,000. J.Safra Asset Management Corp grew its stake in shares of MongoDB by 682.4% in the second quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock worth $33,000 after purchasing an additional 116 shares during the last quarter. Quarry LP raised its position in MongoDB by 2,580.0% during the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock valued at $33,000 after purchasing an additional 129 shares during the last quarter. Hantz Financial Services Inc. bought a new position in MongoDB during the 2nd quarter valued at approximately $35,000. Finally, Brooklyn Investment Group purchased a new stake in MongoDB in the 3rd quarter worth approximately $36,000. 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.