MongoDB (NASDAQ:MDB) Given New $350.00 Price Target at Scotiabank

MongoDB (NASDAQ:MDB) had its price target hoisted by Scotiabank from $295.00 to $350.00 in a report issued on Tuesday morning,Benzinga reports. They currently have a sector perform rating on the stock.

A number of other analysts also recently commented on MDB. Truist Financial boosted their price target on shares of MongoDB from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Barclays raised their target price on MongoDB from $375.00 to $400.00 and gave the company an “overweight” rating in a research note on Tuesday. 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. Wedbush upgraded shares of MongoDB to a “strong-buy” rating in a research report on Thursday, October 17th. Finally, Citigroup boosted their target price on shares of MongoDB from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, MongoDB presently has a consensus rating of “Moderate Buy” and a consensus price target of $370.48.

MongoDB Stock Performance

Shares of MDB stock opened at $290.90 on Tuesday. The business has a 50 day simple moving average of $291.56 and a 200 day simple moving average of $268.79. The company has a debt-to-equity ratio of 0.84, a current ratio of 5.03 and a quick ratio of 5.03. The firm has a market capitalization of $21.49 billion, a price-to-earnings ratio of -96.32 and a beta of 1.17. MongoDB has a 12-month low of $212.74 and a 12-month high of $509.62.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, topping 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 quarter in the prior year, the business posted $0.96 earnings per share. The company’s revenue for the quarter was up 22.3% compared to the same quarter last year. On average, equities research analysts anticipate that MongoDB will post -2.37 EPS for the current year.

Insider Activity

In other MongoDB news, CFO Michael Lawrence Gordon sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $290.31, for a total transaction of $1,451,550.00. Following the completion of the sale, the chief financial officer now owns 80,307 shares of the company’s stock, valued at $23,313,925.17. This represents a 5.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $323.00, for a total value of $969,000.00. Following the transaction, the director now owns 1,121,006 shares in the company, valued at approximately $362,084,938. This trade represents a 0.27 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,600 shares of company stock worth $7,255,929. 3.60% of the stock is owned by corporate insiders.

Institutional Trading of MongoDB

Several large investors have recently modified their holdings of the company. Jennison Associates LLC lifted its position in MongoDB by 23.6% during the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock worth $838,632,000 after acquiring an additional 592,038 shares during the last quarter. Swedbank AB lifted its position in shares of MongoDB by 156.3% during the 2nd quarter. Swedbank AB now owns 656,993 shares of the company’s stock worth $164,222,000 after purchasing an additional 400,705 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in MongoDB by 1,098.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock valued at $106,084,000 after purchasing an additional 388,979 shares during the period. Point72 Asset Management L.P. acquired a new stake in MongoDB in the 2nd quarter valued at approximately $52,131,000. Finally, Avala Global LP bought a new position in MongoDB in the 3rd quarter worth approximately $47,960,000. 89.29% of the stock is 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.