MongoDB (NASDAQ:MDB) Price Target Raised to $405.00

MongoDB (NASDAQ:MDB) had its target price upped by analysts at DA Davidson from $340.00 to $405.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. DA Davidson’s price target would suggest a potential upside of 31.92% from the stock’s current price.

MDB has been the subject of several other research reports. KeyCorp boosted their price objective on shares of MongoDB from $330.00 to $375.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Morgan Stanley upped their price target on shares of MongoDB from $340.00 to $350.00 and gave the stock an “overweight” rating in a report on Tuesday. Bank of America lifted their price objective on MongoDB from $300.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, August 30th. The Goldman Sachs Group upped their target price on MongoDB from $340.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Scotiabank upped their price objective on shares of MongoDB from $295.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $364.28.

MongoDB Stock Performance

Shares of NASDAQ MDB traded down $43.13 during midday trading on Tuesday, hitting $307.00. The company’s stock had a trading volume of 3,438,523 shares, compared to its average volume of 1,475,187. The stock has a fifty day moving average price of $290.90 and a 200 day moving average price of $269.20. The company has a current ratio of 5.03, a quick ratio of 5.03 and a debt-to-equity ratio of 0.84. MongoDB has a one year low of $212.74 and a one year high of $509.62. The firm has a market capitalization of $22.68 billion, a price-to-earnings ratio of -101.66 and a beta of 1.17.

MongoDB (NASDAQ:MDB) last announced its quarterly 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. 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 during the quarter, compared to analysts’ expectations of $497.39 million. During the same period in the previous year, the business earned $0.96 earnings per share. The firm’s quarterly revenue was up 22.3% compared to the same quarter last year. On average, research analysts forecast that MongoDB will post -2.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other MongoDB news, CAO Thomas Bull sold 154 shares of the company’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 $39,462.50. Following the transaction, the chief accounting officer now owns 16,068 shares in the company, valued at approximately $4,117,425. This represents a 0.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Lawrence Gordon sold 5,000 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $290.31, for a total value of $1,451,550.00. Following the completion of the sale, the chief financial officer now directly owns 80,307 shares in the company, valued at approximately $23,313,925.17. The trade was a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,600 shares of company stock worth $7,255,929. 3.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Cetera Advisors LLC grew its holdings in MongoDB by 106.9% in the first quarter. Cetera Advisors LLC now owns 1,558 shares of the company’s stock worth $559,000 after purchasing an additional 805 shares during the period. Diversified Trust Co boosted its position in shares of MongoDB by 16.6% in the 2nd quarter. Diversified Trust Co now owns 4,794 shares of the company’s stock worth $1,198,000 after purchasing an additional 683 shares in the last quarter. Baader Bank Aktiengesellschaft grew its stake in shares of MongoDB by 66.4% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 3,327 shares of the company’s stock worth $826,000 after buying an additional 1,327 shares during the last quarter. J.Safra Asset Management Corp increased its position in MongoDB by 682.4% during the 2nd quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock valued at $33,000 after buying an additional 116 shares in the last quarter. Finally, Swedbank AB raised its stake in MongoDB by 156.3% during the second quarter. Swedbank AB now owns 656,993 shares of the company’s stock valued at $164,222,000 after buying an additional 400,705 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors.

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.