Loop Capital Increases MongoDB (NASDAQ:MDB) Price Target to $400.00

MongoDB (NASDAQ:MDB) had its target price boosted by research analysts at Loop Capital from $315.00 to $400.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Loop Capital’s price target points to a potential upside of 21.42% from the company’s current price.

A number of other brokerages also recently issued reports on MDB. Sanford C. Bernstein raised their price target on shares of MongoDB from $358.00 to $360.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Wedbush raised MongoDB to a “strong-buy” rating in a research note on Thursday, October 17th. DA Davidson upped their target price on shares of MongoDB from $330.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. UBS Group boosted their price target on MongoDB from $250.00 to $275.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Finally, Mizuho upped their price target on shares of MongoDB from $250.00 to $275.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $343.83.

MongoDB Stock Performance

Shares of NASDAQ MDB traded up $6.94 during midday trading on Monday, reaching $329.43. The company’s stock had a trading volume of 196,636 shares, compared to its average volume of 1,444,640. 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 stock has a market capitalization of $24.33 billion, a P/E ratio of -109.08 and a beta of 1.15. MongoDB has a 12-month low of $212.74 and a 12-month high of $509.62. The firm has a 50 day moving average price of $283.54 and a 200-day moving average price of $270.41.

MongoDB (NASDAQ:MDB) last issued its earnings results on Thursday, August 29th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.21. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The company had revenue of $478.11 million for the quarter, compared to analysts’ expectations of $465.03 million. During the same quarter last year, the company earned ($0.63) EPS. The firm’s revenue was up 12.8% compared to the same quarter last year. As a group, equities analysts predict that MongoDB will post -2.37 earnings per share for the current year.

Insider Activity at MongoDB

In other news, CAO Thomas Bull sold 1,000 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was 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. This represents a 5.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dwight A. Merriman sold 2,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $349.17, for a total transaction of $698,340.00. Following the completion of the sale, the director now directly owns 1,124,006 shares of the company’s stock, valued at approximately $392,469,175.02. The trade was a 0.18 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,600 shares of company stock valued at $7,442,189. Insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

Institutional investors have recently made changes to their positions in the business. MFA Wealth Advisors LLC acquired a new position in shares of MongoDB during the 2nd quarter worth approximately $25,000. J.Safra Asset Management Corp lifted its position in MongoDB by 682.4% in the second quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock valued at $33,000 after acquiring an additional 116 shares during the last quarter. Quarry LP increased its holdings in shares of MongoDB by 2,580.0% in the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock valued at $33,000 after acquiring an additional 129 shares during the period. Hantz Financial Services Inc. purchased a new stake in shares of MongoDB during the second quarter worth approximately $35,000. Finally, Brooklyn Investment Group purchased a new position in shares of MongoDB during the 3rd quarter worth approximately $36,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

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.