MongoDB (NASDAQ:MDB) Price Target Increased to $500.00 by Analysts at Tigress Financial

MongoDB (NASDAQ:MDB) had its price objective hoisted by analysts at Tigress Financial from $495.00 to $500.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Tigress Financial’s price target suggests a potential upside of 38.45% from the stock’s current price.

Several other equities research analysts also recently issued reports on MDB. UBS Group restated a “neutral” rating and set a $410.00 price objective (down from $475.00) on shares of MongoDB in a research report on Thursday, January 4th. KeyCorp boosted their price objective on MongoDB from $500.00 to $543.00 and gave the company an “overweight” rating in a report on Wednesday, February 14th. Mizuho raised their target price on MongoDB from $330.00 to $420.00 and gave the company a “neutral” rating in a report on Wednesday, December 6th. Royal Bank of Canada upped their price objective on shares of MongoDB from $445.00 to $475.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 6th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $435.00 price target on shares of MongoDB in a report on Thursday, March 14th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $449.85.

MongoDB Stock Up 0.6 %

Shares of NASDAQ:MDB traded up $2.33 during midday trading on Thursday, hitting $361.13. The stock had a trading volume of 321,265 shares, compared to its average volume of 1,411,965. The company has a market cap of $26.07 billion, a P/E ratio of -145.82 and a beta of 1.24. The company has a quick ratio of 4.40, a current ratio of 4.40 and a debt-to-equity ratio of 1.07. The business’s 50-day simple moving average is $416.10 and its 200-day simple moving average is $390.35. MongoDB has a 12 month low of $198.72 and a 12 month high of $509.62.

Insider Transactions at MongoDB

In other MongoDB news, CFO Michael Lawrence Gordon sold 10,000 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $469.84, for a total value of $4,698,400.00. Following the completion of the transaction, the chief financial officer now owns 70,985 shares in the company, valued at $33,351,592.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Michael Lawrence Gordon sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $469.84, for a total value of $4,698,400.00. Following the sale, the chief financial officer now owns 70,985 shares in the company, valued at approximately $33,351,592.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dev Ittycheria sold 33,000 shares of MongoDB stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $405.77, for a total value of $13,390,410.00. Following the transaction, the chief executive officer now owns 198,166 shares of the company’s stock, valued at approximately $80,409,817.82. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,607 shares of company stock worth $23,116,062. Company insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Jennison Associates LLC boosted its stake in MongoDB by 87.8% during the 3rd quarter. Jennison Associates LLC now owns 3,733,964 shares of the company’s stock valued at $1,291,429,000 after purchasing an additional 1,745,231 shares during the last quarter. 1832 Asset Management L.P. boosted its position in shares of MongoDB by 3,283,771.0% during the fourth quarter. 1832 Asset Management L.P. now owns 1,018,000 shares of the company’s stock valued at $200,383,000 after buying an additional 1,017,969 shares during the last quarter. Norges Bank bought a new stake in MongoDB in the 4th quarter worth about $326,237,000. Axiom Investors LLC DE bought a new position in MongoDB during the 4th quarter valued at about $153,990,000. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in shares of MongoDB by 77.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 568,803 shares of the company’s stock valued at $111,964,000 after acquiring an additional 248,133 shares during the last quarter. Institutional investors own 89.29% of the company’s stock.

About MongoDB

MongoDB, Inc provides general purpose database platform worldwide. The company offers 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-premise, 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.