Morgan Stanley Increases MongoDB (NASDAQ:MDB) Price Target to $350.00

MongoDB (NASDAQ:MDB) had its target price raised by Morgan Stanley from $340.00 to $350.00 in a report issued on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

MDB has been the subject of a number of other research reports. Piper Sandler lifted their price objective on MongoDB from $335.00 to $425.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. UBS Group upped their price objective on MongoDB from $250.00 to $275.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Barclays upped their price objective on MongoDB from $290.00 to $345.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Oppenheimer upped their price objective on MongoDB from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Finally, Bank of America upped their price target on MongoDB from $300.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, MongoDB currently has a consensus rating of “Moderate Buy” and an average target price of $370.08.

MongoDB Stock Down 2.9 %

Shares of NASDAQ:MDB opened at $288.61 on Tuesday. MongoDB has a 52-week low of $212.74 and a 52-week high of $509.62. The stock has a market cap of $21.32 billion, a P/E ratio of -95.57 and a beta of 1.17. The business’s 50 day moving average is $293.13 and its 200 day moving average is $269.12. 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 issued its quarterly earnings data on Monday, December 9th. The company reported $1.16 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $497.39 million. During the same quarter in the prior year, the business posted $0.96 EPS. The business’s revenue for the quarter was up 22.3% compared to the same quarter last year. Sell-side analysts predict that MongoDB will post -2.37 EPS for the current year.

Insider Activity at MongoDB

In related news, CRO Cedric Pech sold 302 shares of the firm’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 transaction, the executive now owns 33,440 shares of the company’s stock, valued at $8,569,000. This trade represents a 0.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Thomas Bull sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $355.92, for a total value of $355,920.00. Following the transaction, the chief accounting officer now directly owns 15,068 shares in the company, valued at approximately $5,363,002.56. This represents a 6.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,600 shares of company stock valued at $7,611,849 over the last quarter. 3.60% of the stock is owned by insiders.

Hedge Funds Weigh In On MongoDB

A number of hedge funds and other institutional investors have recently made changes to their positions in MDB. MFA Wealth Advisors LLC acquired a new stake in MongoDB in the second quarter valued at about $25,000. J.Safra Asset Management Corp increased its stake in shares of MongoDB by 682.4% during the 2nd quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock worth $33,000 after purchasing an additional 116 shares in the last quarter. Quarry LP increased its stake in shares of MongoDB by 2,580.0% during the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after purchasing an additional 129 shares in the last quarter. Hantz Financial Services Inc. purchased a new position in shares of MongoDB during the 2nd quarter worth approximately $35,000. Finally, Brooklyn Investment Group purchased a new stake in MongoDB in the 3rd quarter worth approximately $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.