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On June 5, 2023, Kash Rangan, an analyst at Goldman Sachs, reiterated his Buy rating on MongoDB (NASDAQ:MDB) and boosted the price target from $280 to $420. This upward adjustment marks a significant increase of $140 from the previous target price. With the new price target, the stock has a potential upside of about 11% from its current price of $377. MongoDB is a cutting-edge, versatile database platform that is specifically engineered to cater to modern data management needs.

MDB Stock Update: June 5, 2023

On June 5, 2023, MDB stock opened at 378.63, up 2.33 points from the previous day’s close of 376.30. The stock had a day’s range of 376.02 to 392.35 and traded at a volume of 110,577, significantly lower than its average volume of 1,810,243 over the past three months. The market cap of MDB stood at $26.5B.

MDB, or MongoDB Inc., is a technology services company that specializes in packaged software. The company had an earnings growth of -5.89% last year, but this year it has seen a significant increase in earnings growth, with a +78.94% growth rate. The company is projected to have an earnings growth rate of +8.00% over the next five years.

The P/E ratio for MDB is not available (NM), but the price/sales ratio is 11.45, and the price/book ratio is 35.53.

MDB’s next reporting date is August 31, 2023, and the EPS forecast for this quarter is $0.42.

Overall, MDB’s stock performance on June 5, 2023 was mixed. While the stock opened higher than the previous day’s close, it did not see significant gains throughout the day. The company’s earnings growth and revenue growth rates are positive, but its net profit margin is negative. Investors will be closely watching the company’s next earnings report to see if it can turn its net loss into a profit.

MongoDB Incs Stock Value Drops Slightly on June 5, 2023, but Investment Analysts Recommend Buying

On June 5, 2023, MongoDB Inc’s stock (MDB) experienced a slight decrease in value. The median target for the company’s stock price was $375.00, with a high estimate of $430.00 and a low estimate of $210.00. The current consensus among 26 polled investment analysts is to buy stock in MongoDB Inc. The company reported earnings per share of $0.42 and sales of $391.1 million for the current quarter. The upcoming earnings report on August 31, 2023, will provide further insight into the company’s financial performance and may impact its stock price in the future.

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