MongoDB (NASDAQ:MDB) Given New $275.00 Price Target at Mizuho

MongoDB (NASDAQ:MDB) had its price target boosted by Mizuho from $250.00 to $275.00 in a research report sent to investors on Friday, Benzinga reports. They currently have a neutral rating on the stock.

Several other analysts have also recently issued reports on the stock. Oppenheimer decreased their target price on shares of MongoDB from $480.00 to $300.00 and set an outperform rating on the stock in a research report on Friday, May 31st. Scotiabank decreased their price objective on MongoDB from $385.00 to $250.00 and set a sector perform rating on the stock in a research report on Monday, June 3rd. Needham & Company LLC reiterated a buy rating and issued a $290.00 target price on shares of MongoDB in a report on Thursday, June 13th. Piper Sandler decreased their price target on MongoDB from $350.00 to $300.00 and set an overweight rating on the stock in a report on Friday, July 12th. Finally, JMP Securities lowered their price target on MongoDB from $440.00 to $380.00 and set a market outperform rating for the company in a research report on Friday, May 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, MongoDB currently has a consensus rating of Moderate Buy and a consensus target price of $341.27.

MongoDB Stock Performance

NASDAQ MDB opened at $290.79 on Friday. 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 business has a 50 day simple moving average of $248.22 and a two-hundred day simple moving average of $313.66. The stock has a market capitalization of $21.33 billion, a PE ratio of -103.48 and a beta of 1.13.

MongoDB (NASDAQ:MDB) last posted its earnings results on Thursday, August 29th. The company reported $0.70 earnings per share 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 net margin of 12.08% and a negative return on equity of 15.95%. MongoDB’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.63) earnings per share. On average, research analysts predict that MongoDB will post -2.67 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Dwight A. Merriman sold 2,000 shares of the stock in a transaction 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 sale, the director now owns 1,140,006 shares in the company, valued at approximately $263,341,386. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other MongoDB news, Director Hope F. Cochran sold 1,174 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $224.38, for a total transaction of $263,422.12. Following the sale, the director now owns 13,011 shares of the company’s stock, valued at approximately $2,919,408.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Dwight A. Merriman sold 2,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 1,140,006 shares in the company, valued at approximately $263,341,386. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,179 shares of company stock valued at $7,368,989. 3.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MongoDB

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in MongoDB by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 6,842,413 shares of the company’s stock worth $2,797,521,000 after buying an additional 194,148 shares during the period. Atalanta Sosnoff Capital LLC raised its holdings in shares of MongoDB by 24.7% during the fourth quarter. Atalanta Sosnoff Capital LLC now owns 54,311 shares of the company’s stock worth $22,205,000 after purchasing an additional 10,753 shares during the last quarter. Fiera Capital Corp lifted its position in MongoDB by 0.8% during the fourth quarter. Fiera Capital Corp now owns 224,293 shares of the company’s stock valued at $91,702,000 after purchasing an additional 1,695 shares during the period. Artisan Partners Limited Partnership purchased a new stake in MongoDB in the fourth quarter valued at $10,545,000. Finally, Prudential PLC grew its position in MongoDB by 2.4% during the 4th quarter. Prudential PLC now owns 21,169 shares of the company’s stock worth $8,655,000 after purchasing an additional 489 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

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.