MongoDB (NASDAQ:MDB) Price Target Raised to $430.00 at Tigress Financial

MongoDB (NASDAQ:MDB) had its price objective lifted by investment analysts at Tigress Financial from $400.00 to $430.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Tigress Financial’s price target indicates a potential upside of 63.90% from the company’s current price.

Several other equities analysts have also weighed in on MDB. Needham & Company LLC lifted their target price on shares of MongoDB from $335.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Wells Fargo & Company upped their price objective on shares of MongoDB from $350.00 to $425.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Macquarie began coverage on shares of MongoDB in a research report on Thursday, December 12th. They set a “neutral” rating and a $300.00 price objective for the company. JMP Securities reaffirmed a “market outperform” rating and set a $380.00 target price on shares of MongoDB in a report on Wednesday, December 11th. Finally, Wedbush raised shares of MongoDB to a “strong-buy” rating in a report on Thursday, October 17th. Two equities research 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $366.14.

MongoDB Stock Down 1.0 %

Shares of NASDAQ:MDB traded down $2.74 during trading on Wednesday, hitting $262.36. 791,463 shares of the stock traded hands, compared to its average volume of 1,538,143. The company has a market cap of $19.38 billion, a price-to-earnings ratio of -94.97 and a beta of 1.17. The company has a fifty day moving average price of $293.40 and a two-hundred day moving average price of $267.50. MongoDB has a 52-week low of $212.74 and a 52-week high of $509.62.

MongoDB (NASDAQ:MDB) last posted its earnings results on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.48. The firm had revenue of $529.40 million during the quarter, compared to analyst estimates of $497.39 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business’s quarterly revenue was up 22.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.96 EPS. On average, equities research analysts predict that MongoDB will post -2.29 EPS for the current fiscal year.

Insider Buying and Selling

In other MongoDB news, Director Dwight A. Merriman sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total transaction of $768,750.00. Following the sale, the director now owns 1,131,006 shares of the company’s stock, valued at approximately $289,820,287.50. This trade represents a 0.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Thomas Bull sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $355.92, for a total transaction of $355,920.00. Following the sale, the chief accounting officer now directly owns 15,068 shares in the company, valued at approximately $5,363,002.56. The trade was a 6.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,600 shares of company stock worth $7,611,849 over the last 90 days. 3.60% of the stock is owned by insiders.

Institutional Trading of MongoDB

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC raised its holdings in MongoDB by 23.6% during the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock worth $838,632,000 after purchasing an additional 592,038 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of MongoDB by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock valued at $331,776,000 after acquiring an additional 34,814 shares during the period. Westfield Capital Management Co. LP increased its holdings in shares of MongoDB by 1.5% in the 3rd quarter. Westfield Capital Management Co. LP now owns 496,248 shares of the company’s stock valued at $134,161,000 after acquiring an additional 7,526 shares during the period. Thrivent Financial for Lutherans increased its holdings in shares of MongoDB by 1,098.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock valued at $106,084,000 after acquiring an additional 388,979 shares during the period. Finally, Holocene Advisors LP increased its holdings in shares of MongoDB by 22.6% in the 3rd quarter. Holocene Advisors LP now owns 362,603 shares of the company’s stock valued at $98,030,000 after acquiring an additional 66,730 shares during the period. Institutional investors and hedge funds 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.