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Several other brokerages have also weighed in on MDB. KeyCorp lifted their price objective on MongoDB from $372.00 to $462.00 and gave the stock an overweight rating in a report on Friday, July 21st. Barclays raised their price objective on shares of MongoDB from $421.00 to $450.00 and gave the stock an overweight rating in a report on Friday. The Goldman Sachs Group upped their target price on shares of MongoDB from $420.00 to $440.00 in a research note on Friday, June 23rd. Guggenheim cut shares of MongoDB from a neutral rating to a sell rating and raised their price target for the stock from $205.00 to $210.00 in a research note on Thursday, May 25th. They noted that the move was a valuation call. Finally, William Blair reiterated an outperform rating on shares of MongoDB in a research note on Friday, June 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $405.35.
MongoDB Stock Performance
NASDAQ MDB opened at $392.88 on Friday. The company’s fifty day moving average is $389.98 and its two-hundred day moving average is $304.08. MongoDB has a 52-week low of $135.15 and a 52-week high of $439.00. The company has a debt-to-equity ratio of 1.44, a current ratio of 4.19 and a quick ratio of 4.19. The firm has a market capitalization of $27.73 billion, a price-to-earnings ratio of -84.13 and a beta of 1.13.
MongoDB (NASDAQ:MDB – Get Free Report) last released its earnings results on Thursday, June 1st. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.38. The business had revenue of $368.28 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the business earned ($1.15) earnings per share. Equities research analysts forecast that MongoDB will post -2.8 EPS for the current year.
Insider Activity at MongoDB
In other MongoDB news, CRO Cedric Pech sold 360 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $406.79, for a total transaction of $146,444.40. Following the transaction, the executive now owns 37,156 shares of the company’s stock, valued at approximately $15,114,689.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other MongoDB news, CRO Cedric Pech sold 360 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $406.79, for a total transaction of $146,444.40. Following the completion of the sale, the executive now directly owns 37,156 shares of the company’s stock, valued at approximately $15,114,689.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Dev Ittycheria sold 50,000 shares of the company’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $407.07, for a total transaction of $20,353,500.00. Following the transaction, the chief executive officer now owns 218,085 shares in the company, valued at $88,775,860.95. The disclosure for this sale can be found here. Insiders sold a total of 76,551 shares of company stock valued at $31,143,942 over the last quarter. Corporate insiders own 4.80% of the company’s stock.
Institutional Investors Weigh In On MongoDB
A number of institutional investors have recently made changes to their positions in MDB. Jennison Associates LLC grew its position in shares of MongoDB by 101,056.3% during the 2nd quarter. Jennison Associates LLC now owns 1,988,733 shares of the company’s stock worth $817,350,000 after buying an additional 1,986,767 shares during the period. 1832 Asset Management L.P. boosted its stake in MongoDB by 3,283,771.0% during the 4th quarter. 1832 Asset Management L.P. now owns 1,018,000 shares of the company’s stock worth $200,383,000 after acquiring an additional 1,017,969 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in MongoDB by 13.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,593,996 shares of the company’s stock valued at $1,770,313,000 after purchasing an additional 897,911 shares during the period. Renaissance Technologies LLC increased its stake in MongoDB by 493.2% in the fourth quarter. Renaissance Technologies LLC now owns 918,200 shares of the company’s stock valued at $180,738,000 after purchasing an additional 763,400 shares in the last quarter. Finally, Norges Bank acquired a new stake in MongoDB in the fourth quarter worth $147,735,000. 88.89% of the stock is owned by institutional investors and hedge funds.
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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