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Wolfe Research started coverage on shares of MongoDB (NASDAQ:MDB – Get Free Report) in a note issued to investors on Wednesday, Marketbeat reports. The brokerage set an “outperform” rating and a $280.00 price target on the stock. Wolfe Research’s price target would suggest a potential upside of 33.80% from the stock’s current price.
Other equities analysts have also issued research reports about the company. JMP Securities reissued a “market outperform” rating and set a $345.00 target price on shares of MongoDB in a research note on Thursday, June 5th. Morgan Stanley decreased their target price on MongoDB from $315.00 to $235.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Macquarie reissued a “neutral” rating and set a $230.00 target price (up previously from $215.00) on shares of MongoDB in a research note on Friday, June 6th. William Blair reissued an “outperform” rating on shares of MongoDB in a research note on Thursday, June 26th. Finally, Bank of America increased their target price on MongoDB from $215.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, June 5th. Eight research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, MongoDB currently has a consensus rating of “Moderate Buy” and an average target price of $282.39.
Read Our Latest Stock Analysis on MongoDB
MongoDB Stock Down 3.6%
Shares of NASDAQ:MDB opened at $209.27 on Wednesday. The business has a fifty day moving average of $198.45 and a two-hundred day moving average of $214.37. The stock has a market cap of $17.10 billion, a P/E ratio of -183.57 and a beta of 1.41. MongoDB has a 52-week low of $140.78 and a 52-week high of $370.00.
MongoDB (NASDAQ:MDB – Get Free Report) last issued its earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.35. The company had revenue of $549.01 million during the quarter, compared to analysts’ expectations of $527.49 million. MongoDB had a negative return on equity of 3.16% and a negative net margin of 4.09%. The firm’s quarterly revenue was up 21.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.51 EPS. On average, equities analysts anticipate that MongoDB will post -1.78 earnings per share for the current year.
Insider Activity
In other news, Director Dwight A. Merriman sold 820 shares of the firm’s stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $210.84, for a total value of $172,888.80. Following the completion of the sale, the director directly owned 1,106,186 shares of the company’s stock, valued at $233,228,256.24. This trade represents a 0.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Hope F. Cochran sold 1,174 shares of MongoDB stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $201.08, for a total value of $236,067.92. Following the transaction, the director directly owned 21,096 shares of the company’s stock, valued at approximately $4,241,983.68. This represents a 5.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,746 shares of company stock valued at $7,500,196 in the last three months. 3.10% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On MongoDB
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL purchased a new position in MongoDB during the fourth quarter worth $29,000. Cloud Capital Management LLC purchased a new position in MongoDB during the first quarter worth $25,000. Hollencrest Capital Management purchased a new position in MongoDB during the first quarter worth $26,000. Cullen Frost Bankers Inc. increased its position in MongoDB by 315.8% during the first 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. Finally, Coppell Advisory Solutions LLC increased its position in 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 buying an additional 182 shares in the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.
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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