Piper Sandler Issues Positive Forecast for MongoDB (NASDAQ:MDB) Stock Price

MongoDB (NASDAQ:MDB) had its price objective hoisted by Piper Sandler from $335.00 to $425.00 in a research note released on Tuesday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

A number of other research firms have also recently weighed in on MDB. JMP Securities restated a “market outperform” rating and issued a $380.00 price target on shares of MongoDB in a report on Friday, August 30th. Mizuho upped their target price on MongoDB from $250.00 to $275.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Wedbush raised MongoDB to a “strong-buy” rating in a research note on Thursday, October 17th. Wells Fargo & Company increased their price objective on shares of MongoDB from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Finally, Truist Financial raised their target price on shares of MongoDB from $300.00 to $320.00 and gave the company a “buy” rating in a report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, MongoDB currently has a consensus rating of “Moderate Buy” and an average target price of $340.29.

MongoDB Trading Down 1.7 %

NASDAQ:MDB opened at $335.40 on Tuesday. MongoDB has a 1 year low of $212.74 and a 1 year high of $509.62. 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 stock has a fifty day moving average price of $280.95 and a two-hundred day moving average price of $271.28. The stock has a market capitalization of $24.78 billion, a price-to-earnings ratio of -111.06 and a beta of 1.15.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.70 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $478.11 million during the quarter, compared to analysts’ expectations of $465.03 million. During the same quarter last year, the business earned ($0.63) earnings per share. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that MongoDB will post -2.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other MongoDB news, Director Dwight A. Merriman sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $768,750.00. Following the transaction, the director now directly owns 1,131,006 shares of the company’s stock, valued at $289,820,287.50. This trade represents a 0.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Cedric Pech sold 302 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total value of $77,387.50. Following the completion of the sale, the executive now owns 33,440 shares of the company’s stock, valued at approximately $8,569,000. This trade represents a 0.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,600 shares of company stock worth $7,034,249 over the last three months. 3.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. MFA Wealth Advisors LLC purchased a new position in shares of MongoDB during the 2nd quarter valued at approximately $25,000. J.Safra Asset Management Corp lifted its position in shares of MongoDB by 682.4% during the second quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock worth $33,000 after purchasing an additional 116 shares during the last quarter. Quarry LP grew its stake in 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. Brooklyn Investment Group bought a new position in MongoDB during the 3rd quarter worth approximately $36,000. Finally, Continuum Advisory LLC increased its holdings in shares of MongoDB by 621.1% in the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after acquiring an additional 118 shares during the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

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.