Morgan Stanley Increases MongoDB (NASDAQ:MDB) Price Target to $340.00

MongoDB (NASDAQ:MDB) had its price objective increased by investment analysts at Morgan Stanley from $320.00 to $340.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 16.92% from the company’s current price.

Other analysts have also issued research reports about the company. JMP Securities decreased their price objective on MongoDB from $440.00 to $380.00 and set a “market outperform” rating on the stock in a research note on Friday, May 31st. Citigroup lowered their price target on shares of MongoDB from $480.00 to $350.00 and set a “buy” rating for the company in a report on Monday, June 3rd. Piper Sandler reduced their price objective on shares of MongoDB from $350.00 to $300.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Scotiabank lowered their target price on shares of MongoDB from $385.00 to $250.00 and set a “sector perform” rating for the company in a research note on Monday, June 3rd. Finally, Robert W. Baird cut their price target on MongoDB from $450.00 to $305.00 and set an “outperform” rating for the company in a report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $345.52.

MongoDB Stock Performance

Shares of MDB opened at $290.79 on Friday. MongoDB has a 12-month low of $212.74 and a 12-month high of $509.62. The stock has a market cap of $21.33 billion, a P/E ratio of -103.48 and a beta of 1.13. The company has a current ratio of 4.93, a quick ratio of 4.93 and a debt-to-equity ratio of 0.90. The company has a 50-day moving average of $248.22 and a two-hundred day moving average of $314.87.

MongoDB (NASDAQ:MDB) last posted its earnings results on Thursday, May 30th. The company reported ($0.80) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.80). The firm had revenue of $450.56 million for the quarter, compared to analyst estimates of $438.44 million. MongoDB had a negative return on equity of 14.88% and a negative net margin of 11.50%. As a group, research analysts predict that MongoDB will post -2.67 EPS for the current fiscal year.

Insider Transactions at MongoDB

In other news, Director Dwight A. Merriman sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $231.00, for a total transaction of $462,000.00. Following the completion of the transaction, the director now directly owns 1,140,006 shares of the company’s stock, valued at $263,341,386. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Dwight A. Merriman sold 2,000 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $231.00, for a total transaction of $462,000.00. Following the completion of the transaction, the director now owns 1,140,006 shares of the company’s stock, valued at $263,341,386. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Thomas Bull sold 138 shares of the 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 directly owns 17,222 shares in the company, valued at approximately $4,568,824.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,179 shares of company stock worth $7,368,989. 3.60% of the stock is currently owned by insiders.

Institutional Trading of MongoDB

Several hedge funds have recently added to or reduced their stakes in MDB. International Assets Investment Management LLC increased its holdings in shares of MongoDB by 31,796.1% during the fourth quarter. International Assets Investment Management LLC now owns 89,947 shares of the company’s stock valued at $36,775,000 after purchasing an additional 89,665 shares during the period. GAMMA Investing LLC acquired a new position in MongoDB during the 4th quarter valued at about $50,000. Yousif Capital Management LLC raised its position in shares of MongoDB by 3.9% during the 4th quarter. Yousif Capital Management LLC now owns 792 shares of the company’s stock worth $324,000 after buying an additional 30 shares in the last quarter. Truist Financial Corp lifted its stake in shares of MongoDB by 14.2% in the 4th quarter. Truist Financial Corp now owns 13,879 shares of the company’s stock worth $5,674,000 after acquiring an additional 1,724 shares during the period. Finally, Van ECK Associates Corp bought a new position in shares of MongoDB in the fourth quarter valued at approximately $319,000. 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.