MongoDB (NASDAQ:MDB) Price Target Raised to $425.00

MongoDB (NASDAQ:MDB) had its price target upped by equities research analysts at Piper Sandler from $335.00 to $425.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s target price indicates a potential upside of 24.50% from the stock’s current price.

MDB has been the topic of a number of other research reports. Scotiabank lifted their price objective on MongoDB from $250.00 to $295.00 and gave the company a “sector perform” rating in a report on Friday, August 30th. UBS Group upped their price objective on MongoDB from $250.00 to $275.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Bank of America increased their price objective on MongoDB from $300.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $350.00 price target on shares of MongoDB in a research note on Friday, August 30th. Finally, Citigroup raised their target price on shares of MongoDB from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $340.29.

MongoDB Price Performance

Shares of NASDAQ MDB opened at $341.36 on Tuesday. The stock has a market cap of $25.22 billion, a P/E ratio of -113.03 and a beta of 1.15. MongoDB has a twelve month low of $212.74 and a twelve month high of $509.62. The stock has a 50 day moving average of $279.98 and a two-hundred day moving average of $271.41. The company has a current ratio of 5.03, a quick ratio of 5.03 and a debt-to-equity ratio of 0.84.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Thursday, August 29th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.21. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The company had revenue of $478.11 million for the quarter, compared to analyst estimates of $465.03 million. During the same period in the previous year, the business posted ($0.63) earnings per share. MongoDB’s quarterly revenue was up 12.8% on a year-over-year basis. On average, research analysts forecast that MongoDB will post -2.39 earnings per share for the current year.

Insider Buying and Selling at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 3,000 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 transaction of $768,750.00. Following the sale, the director now owns 1,131,006 shares in the company, valued at $289,820,287.50. This represents a 0.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Thomas Bull sold 154 shares of MongoDB 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 completion of the transaction, the chief accounting officer now owns 16,068 shares of the company’s stock, valued at approximately $4,117,425. The trade was a 0.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,600 shares of company stock valued at $7,034,249 in the last three months. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MFA Wealth Advisors LLC acquired a new stake in shares of MongoDB in the second quarter valued at approximately $25,000. J.Safra Asset Management Corp boosted its position in MongoDB by 682.4% during the 2nd quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock worth $33,000 after acquiring an additional 116 shares during the period. Quarry LP grew its stake in shares of MongoDB by 2,580.0% in the second quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after purchasing an additional 129 shares in the last quarter. Hantz Financial Services Inc. acquired a new position in shares of MongoDB during the second quarter valued at $35,000. Finally, Brooklyn Investment Group bought a new stake in shares of MongoDB during the third quarter valued at about $36,000. Institutional investors and hedge funds 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.