MongoDB (NASDAQ:MDB) Price Target Raised to $425.00

MongoDB (NASDAQ:MDB) had its target price upped by analysts at Piper Sandler from $335.00 to $425.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s target price indicates a potential upside of 30.93% from the stock’s current price.

Several other equities analysts also recently weighed in on MDB. Wedbush upgraded MongoDB to a “strong-buy” rating in a research report on Thursday, October 17th. DA Davidson boosted their price objective on MongoDB from $330.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Bank of America increased their target price on shares of MongoDB from $300.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Oppenheimer increased their price objective on shares of MongoDB from $300.00 to $350.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Finally, UBS Group lifted their target price on shares of MongoDB from $250.00 to $275.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, MongoDB presently has an average rating of “Moderate Buy” and a consensus price target of $340.29.

MongoDB Price Performance

Shares of NASDAQ:MDB opened at $324.60 on Tuesday. The company has a quick ratio of 5.03, a current ratio of 5.03 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $23.98 billion, a PE ratio of -107.48 and a beta of 1.15. The firm’s 50 day moving average price is $281.84 and its 200-day moving average price is $271.65. MongoDB has a twelve month low of $212.74 and a twelve month high of $509.62.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Thursday, August 29th. The company reported $0.70 earnings per share for the quarter, topping 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 business had revenue of $478.11 million for the quarter, compared to the consensus estimate of $465.03 million. During the same period last year, the firm earned ($0.63) earnings per share. The company’s quarterly revenue was up 12.8% on a year-over-year basis. Equities research analysts expect that MongoDB will post -2.39 EPS for the current year.

Insider Transactions at MongoDB

In other news, Director Dwight A. Merriman sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $349.17, for a total value 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. This trade represents a 0.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael Lawrence Gordon sold 5,000 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $290.31, for a total value of $1,451,550.00. Following the sale, the chief financial officer now owns 80,307 shares in the company, valued at $23,313,925.17. The trade was a 5.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,600 shares of company stock worth $7,732,589 in the last three months. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

Hedge funds have recently added to or reduced their stakes in the company. Jennison Associates LLC lifted its stake in MongoDB by 23.6% in the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock worth $838,632,000 after purchasing an additional 592,038 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of MongoDB by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock worth $331,776,000 after buying an additional 34,814 shares during the period. Swedbank AB lifted its stake in shares of MongoDB by 156.3% during the 2nd quarter. Swedbank AB now owns 656,993 shares of the company’s stock worth $164,222,000 after acquiring an additional 400,705 shares during the last quarter. Westfield Capital Management Co. LP boosted its holdings in MongoDB by 1.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 496,248 shares of the company’s stock valued at $134,161,000 after acquiring an additional 7,526 shares during the period. Finally, Thrivent Financial for Lutherans grew its position in MongoDB by 1,098.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock valued at $106,084,000 after acquiring an additional 388,979 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors.

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.