MMS • RSS
On September 3, 2023, the share price of MongoDB, Inc. (NASDAQ:MDB) experienced a gap up at the opening of the market. This was in response to Truist Financial raising their price target on the stock from $420.00 to $430.00. The stock had closed at $381.30 on the previous trading day but opened at $395.01. MongoDB shares were last traded at $399.03 with a total volume of 1,488,559 shares traded.
In other news related to MongoDB, Director Dwight A. Merriman sold 1,000 shares of the company’s stock in a transaction that took place on July 18th. The shares were sold at an average price of $420.00, resulting in a total transaction value of $420,000.00. Following this transaction, Director Dwight A. Merriman now holds 1,213,159 shares in the company with a value of $509,526,780 based on current market prices. This sale was disclosed through a legal filing with the Securities and Exchange Commission (SEC), which can be accessed through this link.
Additionally, Director Dwight A. Merriman sold 6,000 shares of MongoDB stock on August 4th at an average price of $415.06 per share, totaling $2,490,360.00 in value. Following this latest transaction, the director now owns 1,207,159 shares valued at approximately $501,0434145 based on current market prices has been disclosed through a filing with the SEC available via this link.
It should be noted that insiders have sold a total of 76,551 company shares valued at $31,143942 over the last quarter alone . This accounts for approximately 4.80% of the company’s outstanding stock held by insiders.
Turning our attention to MongoDB’s financial performance; as reported on June 1st, 2023, the company exceeded analysts’ expectations with an EPS of $0.56 for the quarter. This beat consensus estimates by $0.38 as analysts had expected earnings of $0.18 per share. MongoDB recorded revenue of $368.28 million for the quarter, surpassing analyst estimates of $347.77 million. The company’s revenue saw a significant increase of 29.0% on a year-over-year basis.
However, it is worth noting that MongoDB had a negative return on equity of 43.25% and a negative net margin of 23.58%. In the same quarter in the previous year, the company reported a loss per share of ($1.15) EPS.
Research analysts forecast that MongoDB, Inc.’s EPS for the current year will be -2.8.
As always, investors are encouraged to conduct their own research and analysis before making any investment decisions regarding MongoDB stock based on this information data available at the time being offered to you
Updated on: 03/09/2023
We did not find social sentiment data for this stock
|Analyst / firm||Rating|
Analysts and Institutions Show Confidence in MongoDB: A Comprehensive Financial Analysis
Diving into the world of financial analysis, various experts have recently shared their thoughts on the renowned technology company MongoDB. The Royal Bank of Canada raised their target price for the company from $400.00 to $445.00 in a research report released on June 23rd, signaling positive market expectations. Similarly, KeyCorp also expressed optimism by increasing their price target on MongoDB from $372.00 to $462.00 and providing an “overweight” rating in a research note published on July 21st.
Another distinguished financial institution, Morgan Stanley, adjusted their target price for MongoDB from $440.00 to $480.00 in a research report issued just days ago. Mizuho echoed this trend by raising their price target from $240.00 to $260.00 on Friday.
It is worth noting that The Goldman Sachs Group also chimed in with their own insights, increasing their price objective for MongoDB from $420.00 to $440.00 in a research report released this summer on June 23rd.
Analyzing the overall market sentiment towards MongoDB stock, it is interesting to observe that one equities research analyst has given the stock a sell rating, three analysts provided hold ratings, while an impressive twenty analysts have bestowed a buy rating upon the company’s stock.
Drawing data from trusted financial resource Bloomberg.com, we find that MongoDB currently holds an average rating of “Moderate Buy” among industry professionals with an average target price of approximately $400.77.
Shifting our focus now towards the institutional investors and hedge funds involved with MongoDB’s operations, recent reports indicate notable modifications within these entities’ holdings of the company’s stock.
Jennison Associates LLC experienced tremendous growth in its stake in MongoDB during the second quarter of this year—a staggering increase of 101,056% compared to previous numbers—as they now own around 1,988,733 shares valued at approximately $817,350,000.
1832 Asset Management L.P. also displayed exceptional growth in its holding of MongoDB shares, with a remarkable increase of 3,283,771% during the fourth quarter. Their stake in the company now amounts to 1,018,000 shares valued at $200,383,000.
Price T Rowe Associates Inc. MD also demonstrated a noteworthy uptick in their holdings by 13.4%, specifically during the first quarter of this year. They currently possess 7,593,996 shares valued at an estimated $1,770,313,000.
Furthermore, Renaissance Technologies LLC recorded an impressive increase of approximately 493.2% in their position within MongoDB during the fourth quarter—now owning around 918,200 shares valued at about $180,738,000.
Lastly on our list is Norges Bank—a new player that entered the picture by acquiring a stake in MongoDB during the fourth quarter valued at roughly $147,735,000.
It is fascinating to consider that hedge funds and institutional investors currently hold a significant portion—approximately 88.89%—of MongoDB’s overall stock value.
Taking a closer look at MongoDB’s financial standing reveals certain key details about its operations. The company maintains a debt-to-equity ratio of 1.44—an aspect that attracts potential investors due to its reasonable balance between debts and resources available for growth prospects.
Additionally worth noting are the company’s liquidity ratios: the quick ratio and current ratio both stand at 4.19—highlighting the firm’s robust financial position and ability to meet short-term obligations effectively.
Examining average prices over specific time periods can provide valuable insights into market trends surrounding a particular stock. In this case study on MongoDB’s performance as of September 3rd this year—the reference date—it is observed that the company has experienced an average moving price of $389.93 over a span of 50 days and $302.86 over 200 days.
Finally, MongoDB currently boasts a market capitalization of $27.91 billion, indicating its strong foothold within the tech industry. The company’s price-to-earnings ratio stands at -85.65—a figure worth evaluating within the broader context of the company’s financial performance. Moreover, MongoDB exhibits a modest beta value of 1.13, reflecting its moderate sensitivity to market fluctuations.
As we navigate the complex world of finance, exploring various analytical research and tracking institutional investments shapes our understanding of the dynamics that underscore companies like MongoDB.