MongoDB (NASDAQ:MDB) Price Target Raised to $400.00 at Barclays

MongoDB (NASDAQ:MDBFree Report) had its target price increased by Barclays from $375.00 to $400.00 in a research report released on Tuesday,Benzinga reports. The firm currently has an overweight rating on the stock.

Other analysts have also issued research reports about the company. KeyCorp increased their price objective on MongoDB from $330.00 to $375.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Stifel Nicolaus raised their price target on MongoDB from $325.00 to $360.00 and gave the stock a “buy” rating in a report on Monday. Needham & Company LLC boosted their price target on MongoDB from $290.00 to $335.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. DA Davidson increased their price objective on shares of MongoDB from $330.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Finally, Sanford C. Bernstein boosted their target price on shares of MongoDB from $358.00 to $360.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $370.48.

Check Out Our Latest Analysis on MDB

MongoDB Price Performance

MDB opened at $290.90 on Tuesday. The firm has a market capitalization of $21.49 billion, a PE ratio of -96.32 and a beta of 1.17. The business’s 50-day moving average is $291.56 and its two-hundred day moving average is $268.79. MongoDB has a 1 year low of $212.74 and a 1 year high of $509.62. The company has a debt-to-equity ratio of 0.84, a current ratio of 5.03 and a quick ratio of 5.03.

MongoDB (NASDAQ:MDBGet Free Report) last issued its quarterly earnings data on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.48. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The firm had revenue of $529.40 million for the quarter, compared to the consensus estimate of $497.39 million. During the same quarter in the previous year, the firm earned $0.96 EPS. The company’s quarterly revenue was up 22.3% compared to the same quarter last year. Research analysts anticipate that MongoDB will post -2.37 earnings per share for the current fiscal year.

Insider Activity at MongoDB

In other MongoDB news, CAO Thomas Bull sold 154 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $39,462.50. Following the sale, the chief accounting officer now directly owns 16,068 shares of the company’s stock, valued at approximately $4,117,425. This trade represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Cedric Pech sold 302 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $77,387.50. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,600 shares of company stock worth $7,255,929. 3.60% of the stock is owned by company insiders.

Institutional Trading of MongoDB

Institutional investors have recently modified their holdings of the stock. Jennison Associates LLC raised its position in shares of MongoDB by 23.6% during the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock worth $838,632,000 after purchasing an additional 592,038 shares during the last quarter. Swedbank AB increased its stake in MongoDB by 156.3% during the 2nd quarter. Swedbank AB now owns 656,993 shares of the company’s stock worth $164,222,000 after buying an additional 400,705 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of MongoDB by 1,098.1% during the second quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock valued at $106,084,000 after acquiring an additional 388,979 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of MongoDB in the second quarter valued at approximately $52,131,000. Finally, Avala Global LP acquired a new stake in shares of MongoDB in the third quarter worth approximately $47,960,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

About MongoDB

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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.

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