MongoDB (NASDAQ:MDB) Stock Price Expected to Rise, Robert W. Baird Analyst Says

MongoDB (NASDAQ:MDB) had its price target upped by Robert W. Baird from $380.00 to $390.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other equities research analysts have also commented on the stock. Oppenheimer boosted their price objective on shares of MongoDB from $300.00 to $350.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Needham & Company LLC boosted their price target on MongoDB from $335.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday. Scotiabank raised their price objective on MongoDB from $250.00 to $295.00 and gave the company a “sector perform” rating in a research report on Friday, August 30th. Wedbush raised MongoDB to a “strong-buy” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $350.00 price target on shares of MongoDB in a report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $370.48.

MongoDB Stock Down 16.9 %

MDB stock opened at $290.90 on Tuesday. The company has a market capitalization of $21.49 billion, a price-to-earnings ratio of -96.32 and a beta of 1.17. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.03 and a current ratio of 5.03. The business’s 50 day moving average price is $291.56 and its two-hundred day moving average price is $268.79. MongoDB has a fifty-two week low of $212.74 and a fifty-two week high of $509.62.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.48. The company had revenue of $529.40 million for the quarter, compared to analysts’ expectations of $497.39 million. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. The firm’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.96 earnings per share. As a group, analysts forecast that MongoDB will post -2.37 earnings per share for the current fiscal year.

Insider Transactions at MongoDB

In other news, CAO Thomas Bull sold 154 shares of the company’s stock in a transaction 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 sale, the chief accounting officer now directly owns 16,068 shares in the company, valued at $4,117,425. This represents a 0.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CRO Cedric Pech sold 302 shares of MongoDB stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total value of $77,387.50. Following the transaction, the executive now owns 33,440 shares in the company, valued at $8,569,000. This trade represents a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,600 shares of company stock worth $7,255,929 in the last quarter. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

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