MongoDB, Inc. (NASDAQ:MDB) Receives $363.93 Average Target Price from Analysts

Shares of MongoDB, Inc. (NASDAQ:MDB) have earned an average recommendation of “Moderate Buy” from the thirty-one brokerages that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $361.00.

A number of equities research analysts have weighed in on MDB shares. Barclays reduced their target price on shares of MongoDB from $400.00 to $330.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. Mizuho raised their target price on MongoDB from $275.00 to $320.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Morgan Stanley upped their price target on MongoDB from $340.00 to $350.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Guggenheim upgraded MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 price objective for the company in a research report on Monday, January 6th. Finally, DA Davidson upped their target price on MongoDB from $340.00 to $405.00 and gave the company a “buy” rating in a report on Tuesday, December 10th.

Insider Buying and Selling

In related news, Director Dwight A. Merriman sold 1,000 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $265.00, for a total value of $265,000.00. Following the completion of the sale, the director now directly owns 1,116,006 shares of the company’s stock, valued at approximately $295,741,590. This represents a 0.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Dev Ittycheria sold 8,335 shares of the firm’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $254.86, for a total value of $2,124,258.10. Following the transaction, the chief executive officer now owns 217,294 shares in the company, valued at approximately $55,379,548.84. This trade represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,156 shares of company stock worth $9,220,473 in the last quarter. Insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

A number of institutional investors have recently added to or reduced their stakes in the company. Rheos Capital Works Inc. grew its stake in MongoDB by 22.4% in the 4th quarter. Rheos Capital Works Inc. now owns 82,000 shares of the company’s stock valued at $19,090,000 after purchasing an additional 15,000 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its position in MongoDB by 10.0% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,596 shares of the company’s stock valued at $604,000 after buying an additional 235 shares during the period. China Universal Asset Management Co. Ltd. increased its holdings in MongoDB by 28.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 1,202 shares of the company’s stock worth $280,000 after buying an additional 265 shares during the last quarter. Clear Creek Financial Management LLC bought a new stake in MongoDB in the fourth quarter worth about $295,000. Finally, Forsta AP Fonden boosted its stake in MongoDB by 26.3% in the fourth quarter. Forsta AP Fonden now owns 20,200 shares of the company’s stock valued at $4,703,000 after acquiring an additional 4,200 shares during the last quarter. 89.29% of the stock is owned by institutional investors.

MongoDB Stock Performance

Shares of NASDAQ:MDB opened at $261.86 on Monday. MongoDB has a 52-week low of $212.74 and a 52-week high of $509.62. The company has a market capitalization of $19.50 billion, a PE ratio of -95.57 and a beta of 1.25. The company has a fifty day moving average of $275.02 and a 200-day moving average of $269.23.

MongoDB (NASDAQ:MDB) last posted its earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.68 by $0.48. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The firm had revenue of $529.40 million during the quarter, compared to the consensus estimate of $497.39 million. During the same period last year, the company earned $0.96 earnings per share. The business’s quarterly revenue was up 22.3% on a year-over-year basis. On average, equities analysts forecast that MongoDB will post -1.79 EPS for the current fiscal year.

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.