MongoDB (NASDAQ:MDB) Price Target Raised to $345.00

MongoDB (NASDAQ:MDB) had its target price increased by Barclays from $290.00 to $345.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other analysts also recently issued research reports about the company. Truist Financial upped their price target on MongoDB from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Wedbush upgraded MongoDB to a “strong-buy” rating in a research note on Thursday, October 17th. Wells Fargo & Company upped their price target on MongoDB from $300.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Bank of America upped their price target on MongoDB from $300.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Finally, Needham & Company LLC increased their target price on MongoDB from $290.00 to $335.00 and gave the company a “buy” rating in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $336.54.

MongoDB Stock Performance

Shares of NASDAQ MDB opened at $279.77 on Friday. The business’s 50-day moving average price is $278.10 and its two-hundred day moving average price is $274.30. The company has a debt-to-equity ratio of 0.84, a current ratio of 5.03 and a quick ratio of 5.03. MongoDB has a one year low of $212.74 and a one year high of $509.62. The company has a market capitalization of $20.67 billion, a P/E ratio of -92.64 and a beta of 1.15.

MongoDB (NASDAQ:MDB) last issued its 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. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. The firm had revenue of $478.11 million for the quarter, compared to the consensus estimate of $465.03 million. During the same quarter in the previous year, the company posted ($0.63) earnings per share. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. Analysts anticipate that MongoDB will post -2.39 earnings per share for the current fiscal year.

Insider Transactions at MongoDB

In other news, Director Dwight A. Merriman sold 3,000 shares of the 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 $768,750.00. Following the completion of the transaction, the director now directly owns 1,131,006 shares of the company’s stock, valued at approximately $289,820,287.50. This represents a 0.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Thomas Bull sold 154 shares of the 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 directly owns 16,068 shares of the company’s stock, valued at approximately $4,117,425. The trade was a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,281 shares of company stock valued at $6,657,121. Corporate insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

A number of hedge funds and other institutional investors have recently bought and sold shares of MDB. MFA Wealth Advisors LLC acquired a new stake in MongoDB during the 2nd quarter valued at $25,000. J.Safra Asset Management Corp increased its holdings in MongoDB by 682.4% during the 2nd quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock valued at $33,000 after purchasing an additional 116 shares in the last quarter. Quarry LP increased its holdings in MongoDB by 2,580.0% during the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock valued at $33,000 after purchasing an additional 129 shares in the last quarter. Hantz Financial Services Inc. acquired a new stake in MongoDB during the 2nd quarter valued at $35,000. Finally, Brooklyn Investment Group acquired a new stake in MongoDB during the 3rd quarter valued at $36,000. 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.