MongoDB (NASDAQ:MDB) Price Target Raised to $400.00

MongoDB (NASDAQ:MDB) had its price target lifted by analysts at Royal Bank of Canada from $350.00 to $400.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 27.18% from the company’s current price.

MDB has been the subject of a number of other reports. Wells Fargo & Company boosted their price objective on shares of MongoDB from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. KeyCorp boosted their price objective on shares of MongoDB from $330.00 to $375.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. The Goldman Sachs Group lifted their target price on shares of MongoDB from $340.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday. UBS Group lifted their target price on shares of MongoDB from $250.00 to $275.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Finally, Barclays lifted their target price on shares of MongoDB from $375.00 to $400.00 and gave the stock an “overweight” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $359.68.

MongoDB Stock Down 10.2 %

Shares of MDB stock traded down $35.62 during trading hours on Tuesday, hitting $314.51. 1,812,283 shares of the company’s stock traded hands, compared to its average volume of 1,469,447. The stock’s fifty day simple moving average is $290.90 and its two-hundred day simple moving average is $269.20. MongoDB has a 12-month low of $212.74 and a 12-month high of $509.62. The stock has a market cap of $23.23 billion, a price-to-earnings ratio of -104.14 and a beta of 1.17. The company has a quick ratio of 5.03, a current ratio of 5.03 and a debt-to-equity ratio of 0.84.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.48. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The company had revenue of $529.40 million during the quarter, compared to analyst estimates of $497.39 million. During the same period in the previous year, the business earned $0.96 EPS. The firm’s revenue for the quarter was up 22.3% on a year-over-year basis. On average, analysts expect that MongoDB will post -2.37 EPS for the current year.

Insiders Place Their Bets

In other MongoDB news, CAO Thomas Bull sold 154 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total value of $39,462.50. Following the transaction, the chief accounting officer now directly owns 16,068 shares in the company, valued at $4,117,425. This represents a 0.95 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Cedric Pech sold 302 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total transaction of $77,387.50. Following the completion of the transaction, the executive now owns 33,440 shares in the company, valued at $8,569,000. This represents a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,600 shares of company stock worth $7,255,929 in the last 90 days. 3.60% of the stock is currently owned by corporate insiders.

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 purchased a new position in shares of MongoDB in the second quarter worth $25,000. J.Safra Asset Management Corp raised its holdings in shares of MongoDB by 682.4% in the second quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock worth $33,000 after buying an additional 116 shares during the last quarter. Quarry LP raised its holdings 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 buying an additional 129 shares during the last quarter. Hantz Financial Services Inc. purchased a new position in shares of MongoDB in the second quarter worth $35,000. Finally, Brooklyn Investment Group purchased a new position in shares of MongoDB in the third quarter worth $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.