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Analysts at Wolfe Research started coverage on shares of MongoDB (NASDAQ:MDB – Get Free Report) in a report released on Wednesday, MarketBeat reports. The firm set an “outperform” rating and a $280.00 price target on the stock. Wolfe Research’s price target indicates a potential upside of 28.96% from the company’s current price.
Several other research firms have also recently issued reports on MDB. Citigroup lowered their price objective on shares of MongoDB from $430.00 to $330.00 and set a “buy” rating for the company in a research report on Tuesday, April 1st. Needham & Company LLC restated a “buy” rating and set a $270.00 price objective on shares of MongoDB in a report on Thursday, June 5th. Truist Financial lowered their target price on MongoDB from $300.00 to $275.00 and set a “buy” rating for the company in a report on Monday, March 31st. Guggenheim raised their price target on MongoDB from $235.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, June 5th. Finally, Barclays upped their price objective on shares of MongoDB from $252.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, June 5th. Eight investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $282.39.
Read Our Latest Stock Report on MDB
MongoDB Price Performance
Shares of NASDAQ:MDB traded up $8.22 during trading on Wednesday, hitting $217.12. The company had a trading volume of 3,143,044 shares, compared to its average volume of 1,969,596. The company has a fifty day simple moving average of $196.81 and a two-hundred day simple moving average of $214.59. The stock has a market cap of $17.74 billion, a price-to-earnings ratio of -190.46 and a beta of 1.41. MongoDB has a one year low of $140.78 and a one year high of $370.00.
MongoDB (NASDAQ:MDB – Get Free Report) last posted its quarterly earnings data on Wednesday, June 4th. The company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.35. MongoDB had a negative net margin of 4.09% and a negative return on equity of 3.16%. The company had revenue of $549.01 million for the quarter, compared to analyst estimates of $527.49 million. During the same period in the prior year, the company posted $0.51 EPS. The firm’s revenue for the quarter was up 21.8% on a year-over-year basis. On average, equities research analysts anticipate that MongoDB will post -1.78 earnings per share for the current year.
Insider Activity at MongoDB
In other MongoDB news, CEO Dev Ittycheria sold 25,005 shares of MongoDB stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $234.00, for a total value of $5,851,170.00. Following the sale, the chief executive officer owned 256,974 shares in the company, valued at $60,131,916. The trade was a 8.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Hope F. Cochran sold 1,174 shares of the business’s stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $201.08, for a total transaction of $236,067.92. Following the completion of the sale, the director directly owned 21,096 shares in the company, valued at $4,241,983.68. This trade represents a 5.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,746 shares of company stock worth $7,500,196. Insiders own 3.10% of the company’s stock.
Institutional Trading of MongoDB
A number of institutional investors and hedge funds have recently bought and sold shares of MDB. Cloud Capital Management LLC purchased a new stake in shares of MongoDB during the first quarter worth approximately $25,000. Hollencrest Capital Management purchased a new stake in shares of MongoDB in the 1st quarter valued at approximately $26,000. Cullen Frost Bankers Inc. raised its holdings in shares of MongoDB by 315.8% in the 1st quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company’s stock valued at $28,000 after purchasing an additional 120 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of MongoDB during the 4th quarter worth $29,000. Finally, Coppell Advisory Solutions LLC grew its stake in shares of MongoDB by 364.0% during the fourth quarter. Coppell Advisory Solutions LLC now owns 232 shares of the company’s stock worth $54,000 after purchasing an additional 182 shares in the last quarter. 89.29% of the stock is currently owned by hedge funds and other 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.
Further Reading
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