Piper Sandler Forecasts Strong Price Appreciation for MongoDB (NASDAQ:MDB) Stock

MongoDB (NASDAQ:MDB) had its target price lifted by Piper Sandler from $335.00 to $425.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s target price suggests a potential upside of 30.93% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on MDB. DA Davidson increased their target price on MongoDB from $330.00 to $340.00 and gave the company a “buy” rating in a report on Friday, October 11th. Wedbush upgraded shares of MongoDB to a “strong-buy” rating in a report on Thursday, October 17th. Citigroup upped their price target on shares of MongoDB from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $350.00 price target on shares of MongoDB in a report on Friday, August 30th. Finally, Barclays upped their price objective on shares of MongoDB from $290.00 to $345.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. 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 company’s stock. According to data from MarketBeat, MongoDB has an average rating of “Moderate Buy” and a consensus target price of $340.29.

MongoDB Stock Performance

NASDAQ:MDB opened at $324.60 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 current ratio of 5.03 and a quick ratio of 5.03. The business has a 50 day moving average of $281.84 and a 200 day moving average of $271.65. The company has a market capitalization of $23.98 billion, a price-to-earnings ratio of -107.48 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, topping analysts’ consensus estimates of $0.49 by $0.21. The company had revenue of $478.11 million for the quarter, compared to analysts’ expectations of $465.03 million. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The firm’s revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.63) EPS. On average, sell-side analysts predict that MongoDB will post -2.39 earnings per share for the current fiscal year.

Insider Buying and Selling at MongoDB

In other MongoDB news, CAO Thomas Bull sold 1,000 shares of MongoDB stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $282.89, for a total value of $282,890.00. Following the completion of the transaction, the chief accounting officer now directly owns 16,222 shares of the company’s stock, valued at approximately $4,589,041.58. The trade was a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dwight A. Merriman sold 2,000 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $349.17, for a total transaction of $698,340.00. Following the sale, the director now owns 1,124,006 shares in the company, valued at approximately $392,469,175.02. The trade was a 0.18 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,600 shares of company stock worth $7,732,589. 3.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MDB. MFA Wealth Advisors LLC bought a new stake in MongoDB in the 2nd quarter worth about $25,000. J.Safra Asset Management Corp boosted its holdings in shares of 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 acquiring an additional 116 shares during the last quarter. Quarry LP grew its stake in shares of MongoDB by 2,580.0% in the second quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after acquiring an additional 129 shares during the period. Hantz Financial Services Inc. purchased a new position in shares of MongoDB during the second quarter valued at approximately $35,000. Finally, Brooklyn Investment Group bought a new position in MongoDB during the third quarter valued at approximately $36,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

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.