MongoDB (NASDAQ:MDB) Price Target Raised to $430.00

MongoDB (NASDAQ:MDB) had its price objective hoisted by Tigress Financial from $400.00 to $430.00 in a research report report published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also commented on MDB. Truist Financial reaffirmed a “buy” rating and issued a $400.00 price objective (up from $320.00) on shares of MongoDB in a report on Tuesday, December 10th. Rosenblatt Securities began coverage on shares of MongoDB in a research report on Tuesday. They issued a “buy” rating and a $350.00 target price for the company. Oppenheimer raised their price target on shares of MongoDB from $350.00 to $400.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Sanford C. Bernstein boosted their price objective on shares of MongoDB from $358.00 to $360.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Finally, Needham & Company LLC raised their target price on shares of MongoDB from $335.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $366.14.

MongoDB Price Performance

MDB stock opened at $245.63 on Wednesday. MongoDB has a one year low of $212.74 and a one year high of $509.62. The stock has a market cap of $18.14 billion, a price-to-earnings ratio of -89.65 and a beta of 1.17. The company has a fifty day moving average price of $291.05 and a two-hundred day moving average price of $267.32.

MongoDB (NASDAQ:MDB) last announced its earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.68 by $0.48. The business had revenue of $529.40 million during the quarter, compared to the consensus estimate of $497.39 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. MongoDB’s revenue was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.96 EPS. Research analysts anticipate that MongoDB will post -2.29 EPS for the current fiscal year.

Insider Buying and Selling at MongoDB

In other MongoDB news, Director Hope F. Cochran sold 1,175 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $266.99, for a total transaction of $313,713.25. Following the sale, the director now directly owns 17,570 shares of the company’s stock, valued at $4,691,014.30. The trade was a 6.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Dwight A. Merriman sold 3,000 shares of the company’s 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 $768,750.00. Following the completion of the transaction, the director now owns 1,131,006 shares of the company’s stock, valued at approximately $289,820,287.50. This trade represents a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,775 shares of company stock worth $9,264,812 over the last quarter. Corporate insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

Institutional investors have recently modified their holdings of the business. Quarry LP lifted its stake in shares of MongoDB by 2,580.0% in the second quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after acquiring an additional 129 shares during the period. Hantz Financial Services Inc. bought a new position in MongoDB during the 2nd quarter worth approximately $35,000. Brooklyn Investment Group acquired a new position in shares of MongoDB in the 3rd quarter worth approximately $36,000. GAMMA Investing LLC boosted its stake in shares of MongoDB by 178.8% in the 3rd quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock valued at $39,000 after purchasing an additional 93 shares during the last quarter. Finally, Continuum Advisory LLC increased its position in shares of MongoDB by 621.1% during the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock worth $40,000 after buying an additional 118 shares during the period. Institutional investors 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.