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

MongoDB (NASDAQ:MDB) had its price target upped by equities research analysts at Loop Capital from $315.00 to $400.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Loop Capital’s price objective indicates a potential upside of 23.45% from the stock’s current price.

Several other brokerages have also commented on MDB. JMP Securities reaffirmed a “market outperform” rating and set a $380.00 price target on shares of MongoDB in a research report on Friday, August 30th. Citigroup increased their price objective on shares of MongoDB from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $350.00 price objective on shares of MongoDB in a research report on Friday, August 30th. Needham & Company LLC increased their price objective on shares of MongoDB from $290.00 to $335.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, Stifel Nicolaus increased their price objective 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. 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $343.83.

MongoDB Stock Performance

Shares of MDB stock opened at $324.01 on Monday. MongoDB has a one year low of $212.74 and a one year high of $509.62. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.03 and a current ratio of 5.03. The company has a 50 day moving average price of $285.33 and a 200 day moving average price of $269.77. The firm has a market capitalization of $23.93 billion, a price-to-earnings ratio of -107.29 and a beta of 1.17.

Insider Transactions at MongoDB

In related news, CAO Thomas Bull sold 154 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 value of $39,462.50. Following the sale, the chief accounting officer now owns 16,068 shares of the company’s stock, valued at $4,117,425. This trade represents a 0.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dwight A. Merriman sold 2,000 shares of the 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 in the company, valued at approximately $392,469,175.02. This trade represents a 0.18 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,600 shares of company stock worth $6,569,819. 3.60% of the stock is currently owned by insiders.

Institutional Trading of MongoDB

A number of large investors have recently modified their holdings of MDB. Atria Investments Inc increased its stake in MongoDB by 1.2% during the 1st quarter. Atria Investments Inc now owns 3,259 shares of the company’s stock valued at $1,169,000 after buying an additional 39 shares during the period. Cetera Investment Advisers increased its stake in MongoDB by 327.6% during the 1st quarter. Cetera Investment Advisers now owns 10,873 shares of the company’s stock valued at $3,899,000 after buying an additional 8,330 shares during the period. Cetera Advisors LLC increased its stake in MongoDB by 106.9% during the 1st quarter. Cetera Advisors LLC now owns 1,558 shares of the company’s stock valued at $559,000 after buying an additional 805 shares during the period. Fulton Bank N.A. boosted its position in shares of MongoDB by 7.7% during the 2nd quarter. Fulton Bank N.A. now owns 1,135 shares of the company’s stock valued at $284,000 after purchasing an additional 81 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its position in shares of MongoDB by 26.2% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 3,579 shares of the company’s stock valued at $895,000 after purchasing an additional 742 shares in the last quarter. Institutional investors and hedge funds 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.