MongoDB (NASDAQ:MDB) Given “Overweight” Rating at Piper Sandler

MongoDB (NASDAQ:MDB)‘s stock had its “overweight” rating restated by analysts at Piper Sandler in a note issued to investors on Tuesday,Benzinga reports. They currently have a $425.00 target price on the stock. Piper Sandler’s price objective would indicate a potential upside of 21.38% from the company’s current price.

MDB has been the topic of a number of other research reports. Wedbush raised MongoDB to a “strong-buy” rating in a research report on Thursday, October 17th. Mizuho raised their target price on shares of MongoDB from $250.00 to $275.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. KeyCorp upped their price target on shares of MongoDB from $330.00 to $375.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Loop Capital increased their price objective on shares of MongoDB from $315.00 to $400.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Finally, Truist Financial boosted their price objective on shares of MongoDB from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, MongoDB has a consensus rating of “Moderate Buy” and an average target price of $354.04.

MongoDB Stock Up 2.0 %

Shares of NASDAQ:MDB opened at $350.13 on Tuesday. The company has a 50 day moving average price of $290.90 and a two-hundred day moving average price of $269.20. 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 $25.86 billion, a PE ratio of -115.94 and a beta of 1.17. MongoDB has a 52 week low of $212.74 and a 52 week high of $509.62.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Monday, December 9th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.48. The business had revenue of $529.40 million during the quarter, compared to analysts’ expectations of $497.39 million. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The firm’s quarterly revenue was up 22.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.96 EPS. Analysts forecast that MongoDB will post -2.37 earnings per share for the current year.

Insider Transactions at MongoDB

In related news, Director Dwight A. Merriman sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total transaction of $768,750.00. Following the transaction, the director now directly owns 1,131,006 shares of the company’s stock, valued at approximately $289,820,287.50. The trade was a 0.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 sale, the chief accounting officer now directly owns 16,068 shares of the company’s stock, valued at $4,117,425. This represents a 0.95 % 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 in the last ninety days. Insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

Several hedge funds and other institutional investors have recently modified their holdings of the stock. MFA Wealth Advisors LLC bought a new position in MongoDB during the 2nd quarter worth $25,000. J.Safra Asset Management Corp boosted 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 period. Quarry LP increased its position 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 during the period. Hantz Financial Services Inc. acquired a new stake in MongoDB in the 2nd quarter worth about $35,000. Finally, Brooklyn Investment Group acquired a new position in shares of MongoDB during the 3rd quarter worth approximately $36,000. 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.