Analysts Set MongoDB, Inc. (NASDAQ:MDB) Target Price at $337.96

MongoDB, Inc. (NASDAQ:MDB) has earned an average recommendation of “Moderate Buy” from the twenty-six ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $334.25.

A number of analysts have weighed in on MDB shares. UBS Group raised their target price on shares of MongoDB from $250.00 to $275.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. JMP Securities reaffirmed a “market outperform” rating and issued a $380.00 target price on shares of MongoDB in a report on Friday, August 30th. DA Davidson lifted their price target on MongoDB from $330.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Stifel Nicolaus upped their price objective on MongoDB from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, Citigroup lifted their target price on shares of MongoDB from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd.

Insider Transactions at MongoDB

In other news, Director Dwight A. Merriman sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $290.79, for a total transaction of $872,370.00. Following the transaction, the director now directly owns 1,135,006 shares of the company’s stock, valued at $330,048,394.74. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Dwight A. Merriman sold 3,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $290.79, for a total transaction of $872,370.00. Following the completion of the sale, the director now directly owns 1,135,006 shares of the company’s stock, valued at $330,048,394.74. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Thomas Bull sold 1,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $282.89, for a total transaction of $282,890.00. Following the completion of the transaction, the chief accounting officer now directly owns 16,222 shares in the company, valued at approximately $4,589,041.58. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,281 shares of company stock valued at $6,657,121 in the last 90 days. 3.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MongoDB

A number of hedge funds have recently bought and sold shares of the company. Daiwa Securities Group Inc. increased its stake in MongoDB by 12.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 10,323 shares of the company’s stock valued at $2,791,000 after buying an additional 1,132 shares during the last quarter. Westfield Capital Management Co. LP increased its position in shares of MongoDB by 1.5% during the third quarter. Westfield Capital Management Co. LP now owns 496,248 shares of the company’s stock valued at $134,161,000 after acquiring an additional 7,526 shares during the last quarter. Alpha DNA Investment Management LLC bought a new stake in MongoDB during the third quarter worth $764,000. Cerity Partners LLC increased its position in shares of MongoDB by 8.3% during the 3rd quarter. Cerity Partners LLC now owns 9,094 shares of the company’s stock valued at $2,459,000 after purchasing an additional 695 shares during the last quarter. Finally, Nwam LLC purchased a new position in MongoDB in the third quarter valued at about $211,000. 89.29% of the stock is owned by hedge funds and other institutional investors.

MongoDB Stock Performance

Shares of MongoDB stock opened at $291.65 on Wednesday. The company has a current ratio of 5.03, a quick ratio of 5.03 and a debt-to-equity ratio of 0.84. The company has a market cap of $21.54 billion, a PE ratio of -96.57 and a beta of 1.15. The company has a 50 day moving average of $277.73 and a 200-day moving average of $275.92. MongoDB has a 1-year low of $212.74 and a 1-year high of $509.62.

MongoDB (NASDAQ:MDB) last issued its earnings results on Thursday, August 29th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.21. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. The firm had revenue of $478.11 million for the quarter, compared to the consensus estimate of $465.03 million. During the same quarter last year, the business posted ($0.63) EPS. The company’s revenue was up 12.8% compared to the same quarter last year. As a group, equities research analysts forecast that MongoDB will post -2.39 earnings per share 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.