Oppenheimer Boosts MongoDB (NASDAQ:MDB) Price Target to $350.00

MongoDB (NASDAQ:MDB) had its price objective boosted by Oppenheimer from $300.00 to $350.00 in a report issued on Friday, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

MDB has been the topic of a number of other reports. Bank of America lifted their price target on shares of MongoDB from $300.00 to $350.00 and gave the stock a buy rating in a research report on Friday. Mizuho lifted their target price on MongoDB from $250.00 to $275.00 and gave the stock a neutral rating in a report on Friday. Canaccord Genuity Group lowered their price target on MongoDB from $435.00 to $325.00 and set a buy rating for the company in a report on Friday, May 31st. Guggenheim upgraded MongoDB from a sell rating to a neutral rating in a report on Monday, June 3rd. Finally, Robert W. Baird lowered their target price on MongoDB from $450.00 to $305.00 and set an outperform rating for the company in a research note on Friday, May 31st. One equities research 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. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $341.27.

MongoDB Trading Up 18.3 %

NASDAQ 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 50-day simple moving average of $248.22 and a 200 day simple moving average of $313.66. 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 market capitalization of $21.33 billion, a PE ratio of -103.48 and a beta of 1.13.

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

Insider Activity

In related news, Director Dwight A. Merriman sold 2,000 shares of MongoDB stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $234.24, for a total transaction of $468,480.00. Following the completion of the transaction, the director now owns 1,146,784 shares in the company, valued at $268,622,684.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other MongoDB news, CAO Thomas Bull sold 138 shares of the company’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $265.29, for a total value of $36,610.02. Following the transaction, the chief accounting officer now directly owns 17,222 shares in the company, valued at $4,568,824.38. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Dwight A. Merriman sold 2,000 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $234.24, for a total transaction of $468,480.00. Following the completion of the transaction, the director now directly owns 1,146,784 shares in the company, valued at $268,622,684.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,179 shares of company stock valued at $7,368,989. 3.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Transcendent Capital Group LLC acquired a new position in MongoDB in the 4th quarter valued at $25,000. MFA Wealth Advisors LLC bought a new stake in shares of MongoDB in the second quarter valued at about $25,000. J.Safra Asset Management Corp grew its stake in shares of MongoDB by 682.4% in the second quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock valued at $33,000 after acquiring an additional 116 shares in the last quarter. Quarry LP increased its position in MongoDB by 2,580.0% during 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. Finally, Hantz Financial Services Inc. acquired a new stake in MongoDB in the 2nd quarter worth about $35,000. Institutional investors and hedge funds 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.