Wells Fargo & Company Raises MongoDB (NASDAQ:MDB) Price Target to $350.00

MongoDB (NASDAQ:MDB) had its target price increased by Wells Fargo & Company from $300.00 to $350.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an overweight rating on the stock.

Other analysts have also issued reports about the stock. Needham & Company LLC reaffirmed a buy rating and issued a $290.00 price objective on shares of MongoDB in a research note on Thursday, June 13th. JMP Securities lowered their price target on shares of MongoDB from $440.00 to $380.00 and set a market outperform rating for the company in a research report on Friday, May 31st. Barclays cut their price objective on shares of MongoDB from $458.00 to $290.00 and set an overweight rating on the stock in a report on Friday, May 31st. Mizuho upped their target price on MongoDB from $250.00 to $275.00 and gave the stock a neutral rating in a report on Friday. Finally, Guggenheim upgraded MongoDB from a sell rating to a neutral rating in a report on Monday, June 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat, MongoDB currently has an average rating of Moderate Buy and an average price target of $341.27.

MongoDB Trading Up 18.3 %

Shares of MDB opened at $290.79 on Friday. The firm has a market capitalization of $21.33 billion, a price-to-earnings ratio of -103.48 and a beta of 1.13. The company has a debt-to-equity ratio of 0.90, a current ratio of 4.93 and a quick ratio of 4.93. MongoDB has a 1-year low of $212.74 and a 1-year high of $509.62. The company has a 50-day moving average of $248.22 and a 200 day moving average of $313.66.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.21. The firm had revenue of $478.11 million during the quarter, compared to analyst estimates of $465.03 million. MongoDB had a negative return on equity of 15.95% and a negative net margin of 12.08%. MongoDB’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.63) earnings per share. On average, research analysts expect that MongoDB will post -2.67 EPS for the current year.

Insider Buying and Selling at MongoDB

In related news, CAO Thomas Bull sold 138 shares of MongoDB stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $265.29, for a total transaction of $36,610.02. Following the completion of the sale, the chief accounting officer now owns 17,222 shares of the company’s stock, valued at $4,568,824.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Dev Ittycheria sold 3,025 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $265.29, for a total value of $802,502.25. Following the sale, the chief executive officer now owns 223,048 shares in the company, valued at $59,172,403.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Thomas Bull sold 138 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $265.29, for a total transaction of $36,610.02. Following the transaction, the chief accounting officer now owns 17,222 shares of the company’s stock, valued at $4,568,824.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,179 shares of company stock worth $7,368,989. 3.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MongoDB

A number of institutional investors have recently modified their holdings of MDB. Norges Bank acquired a new stake in MongoDB during the fourth quarter worth about $326,237,000. Jennison Associates LLC increased its holdings in shares of MongoDB by 14.3% during the 1st quarter. Jennison Associates LLC now owns 4,408,424 shares of the company’s stock valued at $1,581,037,000 after purchasing an additional 551,567 shares in the last quarter. Swedbank AB increased its holdings in shares of MongoDB by 156.3% during the 2nd quarter. Swedbank AB now owns 656,993 shares of the company’s stock valued at $164,222,000 after purchasing an additional 400,705 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in MongoDB by 1,098.1% during the second quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock worth $106,084,000 after buying an additional 388,979 shares in the last quarter. Finally, Axiom Investors LLC DE purchased a new stake in MongoDB during the fourth quarter worth $153,990,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

MongoDB Company Profile

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.