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MongoDB (NASDAQ:MDB) Earns “Outperform” Rating from Royal Bank of Canada

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Posted on mongodb google news. Visit mongodb google news

MongoDB (NASDAQ:MDBGet Free Report)‘s stock had its “outperform” rating reissued by investment analysts at Royal Bank of Canada in a note issued to investors on Friday, Benzinga reports. They presently have a $445.00 price objective on the stock. Royal Bank of Canada’s target price indicates a potential upside of 13.27% from the company’s previous close.

MDB has been the topic of a number of other research reports. Piper Sandler increased their target price on MongoDB from $400.00 to $425.00 and gave the company an “overweight” rating in a research note on Friday. Needham & Company LLC boosted their price objective on shares of MongoDB from $430.00 to $445.00 and gave the stock a “buy” rating in a report on Friday. Truist Financial boosted their price target on shares of MongoDB from $420.00 to $430.00 and gave the stock a “buy” rating in a research note on Friday. Macquarie increased their target price on MongoDB from $434.00 to $456.00 in a report on Friday. Finally, Tigress Financial lifted their price target on MongoDB from $365.00 to $490.00 in a research note on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $405.35.

Check Out Our Latest Report on MDB

MongoDB Price Performance

MDB traded up $11.58 during trading on Friday, reaching $392.88. 5,887,726 shares of the company were exchanged, compared to its average volume of 1,709,101. MongoDB has a 12-month low of $135.15 and a 12-month high of $439.00. The company’s 50-day moving average is $389.93 and its two-hundred day moving average is $302.86. The company has a quick ratio of 4.19, a current ratio of 4.19 and a debt-to-equity ratio of 1.44. The company has a market cap of $27.73 billion, a price-to-earnings ratio of -84.13 and a beta of 1.13.

MongoDB (NASDAQ:MDBGet Free Report) last posted its earnings results on Thursday, June 1st. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.18 by $0.38. The business had revenue of $368.28 million during the quarter, compared to analysts’ expectations of $347.77 million. MongoDB had a negative return on equity of 43.25% and a negative net margin of 23.58%. The firm’s revenue was up 29.0% on a year-over-year basis. During the same period in the previous year, the business earned ($1.15) earnings per share. Research analysts forecast that MongoDB will post -2.8 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Dwight A. Merriman sold 1,000 shares of the stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $420.00, for a total value of $420,000.00. Following the sale, the director now directly owns 1,213,159 shares of the company’s stock, valued at $509,526,780. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Dwight A. Merriman sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $420.00, for a total value of $420,000.00. Following the completion of the transaction, the director now directly owns 1,213,159 shares in the company, valued at approximately $509,526,780. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Cedric Pech sold 360 shares of the stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $406.79, for a total value of $146,444.40. Following the sale, the executive now owns 37,156 shares in the company, valued at $15,114,689.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,551 shares of company stock worth $31,143,942. Insiders own 4.80% of the company’s stock.

Institutional Trading of MongoDB

Institutional investors have recently made changes to their positions in the stock. Raymond James & Associates increased its position in MongoDB by 32.0% during the first quarter. Raymond James & Associates now owns 4,922 shares of the company’s stock valued at $2,183,000 after acquiring an additional 1,192 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of MongoDB by 19.1% in the first quarter. PNC Financial Services Group Inc. now owns 1,282 shares of the company’s stock worth $569,000 after buying an additional 206 shares during the last quarter. MetLife Investment Management LLC bought a new stake in MongoDB during the first quarter valued at approximately $1,823,000. Panagora Asset Management Inc. grew its position in MongoDB by 9.8% during the first quarter. Panagora Asset Management Inc. now owns 1,977 shares of the company’s stock valued at $877,000 after buying an additional 176 shares during the period. Finally, Vontobel Holding Ltd. increased its stake in shares of MongoDB by 100.3% in the 1st quarter. Vontobel Holding Ltd. now owns 2,873 shares of the company’s stock worth $1,236,000 after purchasing an additional 1,439 shares in the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

MongoDB Company Profile

(Get Free Report)

MongoDB, Inc provides general purpose database platform worldwide. The company offers 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-premise, 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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Analyst Recommendations for MongoDB (NASDAQ:MDB)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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Article originally posted on mongodb google news. Visit mongodb google news

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