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MongoDB (NASDAQ:MDB – Free Report) had its target price boosted by Citigroup from $430.00 to $455.00 in a report published on Monday, Marketbeat Ratings reports. They currently have a buy rating on the stock.
MDB has been the subject of several other research reports. Morgan Stanley increased their target price on MongoDB from $270.00 to $440.00 in a research note on Friday, June 23rd. Guggenheim downgraded MongoDB from a neutral rating to a sell rating and raised their price objective for the stock from $205.00 to $210.00 in a research report on Thursday, May 25th. They noted that the move was a valuation call. The Goldman Sachs Group raised their price objective on MongoDB from $420.00 to $440.00 in a research report on Friday, June 23rd. KeyCorp raised their target price on MongoDB from $372.00 to $462.00 and gave the stock an overweight rating in a research report on Friday, July 21st. Finally, JMP Securities raised their target price on MongoDB from $400.00 to $425.00 and gave the stock an outperform rating in a research report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $379.23.
MongoDB Stock Performance
Shares of MDB stock opened at $354.32 on Monday. The company has a debt-to-equity ratio of 1.44, a current ratio of 4.19 and a quick ratio of 4.19. MongoDB has a fifty-two week low of $135.15 and a fifty-two week high of $439.00. The stock’s 50-day moving average is $390.26 and its two-hundred day moving average is $300.69. The firm has a market cap of $25.01 billion, a P/E ratio of -75.87 and a beta of 1.13.
MongoDB (NASDAQ:MDB – Get Free Report) last issued its quarterly earnings data on Thursday, June 1st. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.38. The business had revenue of $368.28 million for the quarter, compared to analyst estimates 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 for the quarter was up 29.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.15) EPS. Analysts predict that MongoDB will post -2.8 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, Director Dwight A. Merriman sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $415.06, for a total transaction of $2,490,360.00. Following the completion of the sale, the director now owns 1,207,159 shares of the company’s stock, valued at approximately $501,043,414.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Dev Ittycheria sold 20,000 shares of MongoDB stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $287.32, for a total transaction of $5,746,400.00. Following the sale, the chief executive officer now directly owns 262,311 shares in the company, valued at approximately $75,367,196.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dwight A. Merriman sold 6,000 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $415.06, for a total value of $2,490,360.00. Following the completion of the sale, the director now owns 1,207,159 shares in the company, valued at $501,043,414.54. The disclosure for this sale can be found here. In the last 90 days, insiders sold 102,220 shares of company stock worth $38,763,571. 4.80% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in MDB. GPS Wealth Strategies Group LLC purchased a new position in MongoDB during the 2nd quarter valued at about $26,000. KB Financial Partners LLC purchased a new position in shares of MongoDB during the second quarter worth about $27,000. Capital Advisors Ltd. LLC grew its holdings in shares of MongoDB by 131.0% during the second quarter. Capital Advisors Ltd. LLC now owns 67 shares of the company’s stock worth $28,000 after purchasing an additional 38 shares in the last quarter. Bessemer Group Inc. purchased a new position in shares of MongoDB during the fourth quarter worth about $29,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of MongoDB during the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.
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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