MongoDB (NASDAQ:MDB) Stock Price Up 4.9% – Time to Buy?

MongoDB, Inc. (NASDAQ:MDB)’s stock price rose 4.9% during mid-day trading on Wednesday . The company traded as high as $273.33 and last traded at $272.17. Approximately 667,942 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 1,446,957 shares. The stock had previously closed at $259.46.

Analyst Ratings Changes

MDB has been the topic of a number of research analyst reports. Piper Sandler raised their target price on MongoDB from $300.00 to $335.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Stifel Nicolaus raised their price target on shares of MongoDB from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. DA Davidson boosted their price target on MongoDB from $265.00 to $330.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Wells Fargo & Company upped their target price on MongoDB from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Finally, Bank of America boosted their price target on shares of MongoDB from $300.00 to $350.00 and gave the company a “buy” rating in a report on Friday, August 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, MongoDB has a consensus rating of “Moderate Buy” and a consensus price target of $337.56.

MongoDB Stock Performance

The business’s fifty day moving average price is $262.41 and its 200-day moving average price is $288.60. The stock has a market capitalization of $20.21 billion, a PE ratio of -97.92 and a beta of 1.15. The company has a debt-to-equity ratio of 0.84, a current ratio of 5.03 and a quick ratio of 5.03.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Thursday, August 29th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.49 by $0.21. The company had revenue of $478.11 million during the quarter, compared to analyst estimates of $465.03 million. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. MongoDB’s revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.63) earnings per share. As a group, equities research analysts expect that MongoDB, Inc. will post -2.44 EPS for the current year.

Insider Transactions at MongoDB

In other news, Director Dwight A. Merriman sold 2,000 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $231.00, for a total transaction of $462,000.00. Following the transaction, the director now directly owns 1,140,006 shares of the company’s stock, valued at $263,341,386. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Dwight A. Merriman sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $231.00, for a total transaction of $462,000.00. Following the sale, the director now directly owns 1,140,006 shares of the company’s stock, valued at $263,341,386. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Cedric Pech sold 302 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were 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 directly owns 33,440 shares of the company’s stock, valued at approximately $8,569,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,896 shares of company stock valued at $4,187,260. Corporate insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in MongoDB by 1.0% in the first quarter. Vanguard Group Inc. now owns 6,910,761 shares of the company’s stock valued at $2,478,475,000 after buying an additional 68,348 shares during the last quarter. Jennison Associates LLC boosted its stake in MongoDB by 14.3% during the 1st quarter. Jennison Associates LLC now owns 4,408,424 shares of the company’s stock worth $1,581,037,000 after purchasing an additional 551,567 shares during the period. Swedbank AB raised its stake in MongoDB by 156.3% during the 2nd quarter. Swedbank AB now owns 656,993 shares of the company’s stock valued at $164,222,000 after acquiring an additional 400,705 shares during the last quarter. Champlain Investment Partners LLC raised its holdings in MongoDB by 22.4% during the first quarter. Champlain Investment Partners LLC now owns 550,684 shares of the company’s stock worth $197,497,000 after purchasing an additional 100,725 shares in the last quarter. Finally, Clearbridge Investments LLC increased its holdings in MongoDB by 109.0% in the first quarter. Clearbridge Investments LLC now owns 445,084 shares of the company’s stock valued at $159,625,000 after buying an additional 232,101 shares in the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

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.