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

MongoDB (NASDAQ:MDB) had its target price lifted by equities researchers at DA Davidson from $340.00 to $405.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. DA Davidson’s price target suggests a potential upside of 31.92% from the company’s previous close.

MDB has been the subject of several other research reports. JMP Securities reaffirmed a “market outperform” rating and set a $380.00 price target on shares of MongoDB in a research note on Friday, August 30th. Wells Fargo & Company lifted their target price on MongoDB from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Wedbush raised MongoDB to a “strong-buy” rating in a research note on Thursday, October 17th. Truist Financial raised their price objective on MongoDB from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, Oppenheimer upped their target price on MongoDB from $350.00 to $400.00 and gave the company an “outperform” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, MongoDB presently has an average rating of “Moderate Buy” and a consensus target price of $364.28.

MongoDB Price Performance

Shares of NASDAQ:MDB traded down $43.13 during trading on Tuesday, hitting $307.00. 3,438,523 shares of the company were exchanged, compared to its average volume of 1,475,187. 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 has a 1-year low of $212.74 and a 1-year high of $509.62. The company has a market capitalization of $22.68 billion, a P/E ratio of -101.66 and a beta of 1.17. The business’s 50 day moving average is $290.90 and its 200-day moving average is $269.20.

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

Insiders Place Their Bets

In related news, CAO Thomas Bull sold 154 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total transaction of $39,462.50. Following the transaction, the chief accounting officer now directly owns 16,068 shares of the company’s stock, valued at $4,117,425. This trade represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Dwight A. Merriman sold 2,000 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $349.17, for a total transaction of $698,340.00. Following the completion of the sale, the director now directly owns 1,124,006 shares of the company’s stock, valued at $392,469,175.02. The trade was a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,600 shares of company stock valued at $7,255,929. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. MFA Wealth Advisors LLC purchased a new position in shares of MongoDB in the 2nd quarter worth about $25,000. J.Safra Asset Management Corp boosted its stake in MongoDB by 682.4% in the second 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 position in shares of 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 acquiring an additional 129 shares during the period. Brooklyn Investment Group bought a new stake in shares of MongoDB in the 3rd quarter worth approximately $36,000. Finally, Continuum Advisory LLC raised 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 worth $40,000 after purchasing an additional 118 shares during the period. Hedge funds and other 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.