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MongoDB (NASDAQ:MDB – Get Free Report)‘s stock had its “outperform” rating restated by equities research analysts at Royal Bank of Canada in a report released on Tuesday,Benzinga reports. They presently have a $320.00 target price on the stock. Royal Bank of Canada’s target price indicates a potential upside of 72.96% from the company’s current price.
Several other equities research analysts have also recently commented on MDB. Barclays dropped their target price on shares of MongoDB from $280.00 to $252.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. Needham & Company LLC lowered their price target on MongoDB from $415.00 to $270.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Stifel Nicolaus decreased their price target on MongoDB from $340.00 to $275.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Monness Crespi & Hardt upgraded MongoDB from a “sell” rating to a “neutral” rating in a research note on Monday, March 3rd. Finally, Cantor Fitzgerald assumed coverage on MongoDB in a report on Wednesday, March 5th. They issued an “overweight” rating and a $344.00 target price on the stock. Nine analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, MongoDB presently has an average rating of “Moderate Buy” and a consensus price target of $288.91.
Check Out Our Latest Analysis on MDB
MongoDB Trading Down 2.1%
MDB opened at $185.01 on Tuesday. MongoDB has a 12 month low of $140.78 and a 12 month high of $379.06. The business’s 50-day moving average price is $174.84 and its 200-day moving average price is $237.45. The company has a market cap of $15.02 billion, a P/E ratio of -67.52 and a beta of 1.49.
MongoDB (NASDAQ:MDB – Get Free Report) last posted its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.45). MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company had revenue of $548.40 million for the quarter, compared to the consensus estimate of $519.65 million. During the same quarter in the previous year, the business earned $0.86 earnings per share. Equities research analysts forecast that MongoDB will post -1.78 earnings per share for the current fiscal year.
Insider Activity at MongoDB
In other news, CEO Dev Ittycheria sold 8,335 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $267.48, for a total value of $2,229,445.80. Following the completion of the sale, the chief executive officer now owns 217,294 shares of the company’s stock, valued at approximately $58,121,799.12. This represents a 3.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Thomas Bull sold 301 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.25, for a total transaction of $52,148.25. Following the completion of the transaction, the chief accounting officer now owns 14,598 shares of the company’s stock, valued at $2,529,103.50. This represents a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,538 shares of company stock worth $6,889,905. Insiders own 3.60% of the company’s stock.
Institutional Investors Weigh In On MongoDB
A number of large investors have recently made changes to their positions in MDB. Cloud Capital Management LLC acquired a new stake in MongoDB during the 1st quarter valued at approximately $25,000. Hollencrest Capital Management acquired a new stake in shares of MongoDB in the first quarter valued at about $26,000. Cullen Frost Bankers Inc. increased its stake in MongoDB by 315.8% during the 1st quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company’s stock worth $28,000 after buying an additional 120 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of MongoDB during the fourth quarter worth $29,000. Finally, NCP Inc. acquired a new stake in shares of MongoDB in the fourth quarter valued at approximately $35,000. 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.
Further Reading
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Article originally posted on mongodb google news. Visit mongodb google news