MongoDB (NASDAQ:MDB) Stock Price Expected to Rise, Barclays Analyst Says

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

A number of other equities analysts also recently weighed in on the company. JMP Securities reissued a “market outperform” rating and set a $380.00 price target on shares of MongoDB in a research report on Friday, August 30th. UBS Group lifted their target price on MongoDB from $250.00 to $275.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Mizuho increased their price target on MongoDB from $250.00 to $275.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Scotiabank lifted their price objective on shares of MongoDB from $250.00 to $295.00 and gave the stock a “sector perform” rating in a research report on Friday, August 30th. Finally, Wedbush raised shares of MongoDB to a “strong-buy” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $336.54.

MongoDB Price Performance

Shares of NASDAQ MDB opened at $284.43 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 5.03 and a quick ratio of 5.03. The business has a 50-day moving average of $278.10 and a 200-day moving average of $273.60. The stock has a market capitalization of $21.01 billion, a price-to-earnings ratio of -92.79 and a beta of 1.15. MongoDB has a fifty-two week low of $212.74 and a fifty-two week high of $509.62.

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

Insider Activity at MongoDB

In related news, Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $269.57, for a total value of $808,710.00. Following the completion of the transaction, the director now owns 1,127,006 shares of the company’s stock, valued at $303,807,007.42. This represents a 0.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Thomas Bull sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $282.89, for a total transaction of $282,890.00. Following the completion of the sale, the chief accounting officer now owns 16,222 shares in the company, valued at $4,589,041.58. This represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,281 shares of company stock valued at $6,657,121 over the last three months. 3.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. increased its position in MongoDB by 12.9% in the 1st quarter. Advisors Asset Management Inc. now owns 324 shares of the company’s stock valued at $116,000 after acquiring an additional 37 shares during the period. Atria Investments Inc increased its holdings in MongoDB by 1.2% in the first quarter. Atria Investments Inc now owns 3,259 shares of the company’s stock valued at $1,169,000 after purchasing an additional 39 shares during the period. Nisa Investment Advisors LLC raised its position in MongoDB by 3.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the company’s stock worth $295,000 after purchasing an additional 40 shares during the last quarter. Taylor Frigon Capital Management LLC raised its position in MongoDB by 0.4% during the 2nd quarter. Taylor Frigon Capital Management LLC now owns 9,903 shares of the company’s stock worth $2,475,000 after purchasing an additional 42 shares during the last quarter. Finally, Tanager Wealth Management LLP lifted its holdings in MongoDB by 4.7% during the 3rd quarter. Tanager Wealth Management LLP now owns 957 shares of the company’s stock worth $259,000 after buying an additional 43 shares during the period. 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.