Oppenheimer Issues Positive Forecast for MongoDB (NASDAQ:MDB) Stock Price

MongoDB (NASDAQ:MDB) had its price target lifted by Oppenheimer from $350.00 to $400.00 in a report released on Tuesday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Other analysts have also recently issued research reports about the stock. The Goldman Sachs Group raised their target price on shares of MongoDB from $340.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday. Stifel Nicolaus raised their target price on shares of MongoDB from $325.00 to $360.00 and gave the stock a “buy” rating in a research note on Monday. Barclays raised their target price on shares of MongoDB from $375.00 to $400.00 and gave the stock an “overweight” rating in a research note on Tuesday. Royal Bank of Canada raised their target price on shares of MongoDB from $350.00 to $400.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Robert W. Baird raised their target price on shares of MongoDB from $380.00 to $390.00 and gave the stock an “outperform” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, MongoDB currently has a consensus rating of “Moderate Buy” and an average price target of $370.08.

MongoDB Price Performance

Shares of MDB opened at $288.61 on Tuesday. The firm has a 50-day moving average of $293.13 and a 200-day moving average of $269.12. MongoDB has a one year low of $212.74 and a one year high of $509.62.

MongoDB (NASDAQ:MDB) last announced 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. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The company had revenue of $529.40 million during the quarter, compared to the consensus estimate of $497.39 million. During the same quarter last year, the firm posted $0.96 EPS. The company’s quarterly revenue was up 22.3% on a year-over-year basis. As a group, analysts expect that MongoDB will post -2.29 EPS for the current year.

Insider Buying and Selling at MongoDB

In related news, CRO Cedric Pech sold 302 shares of MongoDB 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 $77,387.50. Following the sale, the executive now directly owns 33,440 shares of the company’s stock, valued at approximately $8,569,000. The trade was a 0.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Thomas Bull sold 1,000 shares of MongoDB stock in a transaction that occurred on Monday, December 9th. The shares were 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 $5,363,002.56. This trade represents a 6.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,600 shares of company stock valued at $7,611,849 in the last ninety days. 3.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MongoDB

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cetera Advisors LLC grew its holdings in MongoDB by 106.9% during the 1st quarter. Cetera Advisors LLC now owns 1,558 shares of the company’s stock worth $559,000 after acquiring an additional 805 shares during the last quarter. Diversified Trust Co boosted its stake in MongoDB by 16.6% during the second quarter. Diversified Trust Co now owns 4,794 shares of the company’s stock worth $1,198,000 after acquiring an additional 683 shares in the last quarter. Baader Bank Aktiengesellschaft boosted its stake in MongoDB by 66.4% during the second quarter. Baader Bank Aktiengesellschaft now owns 3,327 shares of the company’s stock worth $826,000 after acquiring an additional 1,327 shares in the last quarter. J.Safra Asset Management Corp boosted its stake in MongoDB by 682.4% during the second quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock worth $33,000 after acquiring an additional 116 shares in the last quarter. Finally, Swedbank AB boosted its stake in MongoDB by 156.3% during the second quarter. Swedbank AB now owns 656,993 shares of the company’s stock worth $164,222,000 after acquiring an additional 400,705 shares in the last quarter. 89.29% of the stock is owned by institutional investors.

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.