MongoDB (NASDAQ:MDB) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

MongoDB (NASDAQ:MDB) had its price target increased by research analysts at Stifel Nicolaus from $325.00 to $360.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 4.83% from the stock’s previous close.

Several other research analysts have also recently weighed in on MDB. Needham & Company LLC raised their target price on MongoDB from $290.00 to $335.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Robert W. Baird lifted their price objective on shares of MongoDB from $305.00 to $380.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Royal Bank of Canada reissued an “outperform” rating and set a $350.00 target price on shares of MongoDB in a research note on Friday, August 30th. Wells Fargo & Company upped their price target on MongoDB from $300.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Finally, Truist Financial raised their target price on shares of MongoDB from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $345.71.

MongoDB Stock Performance

Shares of NASDAQ:MDB traded up $9.09 on Monday, hitting $343.40. The company’s stock had a trading volume of 1,811,201 shares, compared to its average volume of 1,587,236. MongoDB has a 12 month low of $212.74 and a 12 month high of $509.62. The stock’s 50-day moving average is $289.30 and its two-hundred day moving average is $269.24. 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 market capitalization of $25.37 billion, a price-to-earnings ratio of -113.71 and a beta of 1.17.

Insiders Place Their Bets

In other MongoDB news, CAO Thomas Bull sold 154 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 $39,462.50. Following the sale, the chief accounting officer now directly owns 16,068 shares in the company, valued at approximately $4,117,425. This trade represents a 0.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Dev Ittycheria sold 3,556 shares of the company’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 $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. The trade was a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 25,600 shares of company stock valued at $7,255,929. 3.60% of the stock is currently owned by insiders.

Institutional Trading of MongoDB

Institutional investors have recently made changes to their positions in the business. MFA Wealth Advisors LLC bought a new stake in MongoDB during the 2nd quarter worth about $25,000. J.Safra Asset Management Corp increased its position 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 valued at $33,000 after acquiring an additional 116 shares during the last quarter. Quarry LP raised its holdings in MongoDB by 2,580.0% during the second quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after acquiring an additional 129 shares in the last quarter. Brooklyn Investment Group acquired a new position in MongoDB during the third quarter valued at approximately $36,000. Finally, Continuum Advisory LLC boosted its position in MongoDB by 621.1% during the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after purchasing an additional 118 shares during 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.