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Stock analysts at Stephens started coverage on shares of MongoDB (NASDAQ:MDB – Get Free Report) in a report issued on Friday, MarketBeat reports. The brokerage set an “equal weight” rating and a $247.00 price target on the stock. Stephens’ price target indicates a potential upside of 11.66% from the company’s current price.
A number of other research analysts have also commented on MDB. Needham & Company LLC reaffirmed a “buy” rating and set a $270.00 price objective on shares of MongoDB in a research report on Thursday, June 5th. Loop Capital cut shares of MongoDB from a “buy” rating to a “hold” rating and cut their price target for the stock from $350.00 to $190.00 in a research note on Tuesday, May 20th. Truist Financial cut their price target on shares of MongoDB from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Scotiabank raised their price target on shares of MongoDB from $160.00 to $230.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 5th. Finally, Macquarie restated a “neutral” rating and set a $230.00 price target (up previously from $215.00) on shares of MongoDB in a research note on Friday, June 6th. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, MongoDB has an average rating of “Moderate Buy” and an average price target of $281.35.
View Our Latest Research Report on MDB
MongoDB Trading Up 1.2%
Shares of NASDAQ:MDB opened at $221.21 on Friday. The stock has a market capitalization of $18.08 billion, a PE ratio of -194.04 and a beta of 1.41. MongoDB has a 1 year low of $140.78 and a 1 year high of $370.00. The firm has a fifty day moving average price of $202.71 and a 200 day moving average price of $213.05.
MongoDB (NASDAQ:MDB – Get Free Report) last released its earnings results 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. The firm had revenue of $549.01 million during the quarter, compared to analyst estimates of $527.49 million. MongoDB had a negative net margin of 4.09% and a negative return on equity of 3.16%. The business’s revenue was up 21.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.51 EPS. On average, sell-side analysts forecast that MongoDB will post -1.78 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, CEO Dev Ittycheria sold 3,747 shares of the firm’s stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $206.05, for a total transaction of $772,069.35. Following the sale, the chief executive officer directly owned 253,227 shares in the company, valued at $52,177,423.35. This trade represents a 1.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Dwight A. Merriman sold 820 shares of the firm’s stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $210.84, for a total transaction of $172,888.80. Following the completion of the transaction, the director directly owned 1,106,186 shares of the company’s stock, valued at approximately $233,228,256.24. This trade represents a 0.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,746 shares of company stock worth $7,500,196 over the last ninety days. Company insiders own 3.10% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the company. 111 Capital bought a new stake in shares of MongoDB during the 4th quarter worth about $390,000. Park Avenue Securities LLC boosted its holdings in shares of MongoDB by 52.6% during the 1st quarter. Park Avenue Securities LLC now owns 2,630 shares of the company’s stock worth $461,000 after buying an additional 907 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of MongoDB by 4.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,748 shares of the company’s stock worth $1,359,000 after buying an additional 298 shares during the period. Sowell Financial Services LLC bought a new stake in shares of MongoDB during the 1st quarter worth about $263,000. Finally, Farther Finance Advisors LLC boosted its holdings in shares of MongoDB by 57.2% during the 1st quarter. Farther Finance Advisors LLC now owns 1,242 shares of the company’s stock worth $219,000 after buying an additional 452 shares during the period. Institutional investors 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.
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