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MongoDB (NASDAQ:MDB – Get Free Report) had its target price upped by stock analysts at Barclays from $252.00 to $270.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 16.42% from the company’s current price.
Other equities research analysts have also issued research reports about the stock. The Goldman Sachs Group dropped their price objective on shares of MongoDB from $390.00 to $335.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. KeyCorp lowered shares of MongoDB from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Wells Fargo & Company lowered shares of MongoDB from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $365.00 to $225.00 in a research note on Thursday, March 6th. Truist Financial dropped their price objective on shares of MongoDB from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Finally, Wedbush restated an “outperform” rating and issued a $300.00 price target on shares of MongoDB in a research note on Thursday. Eight research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $286.41.
Check Out Our Latest Stock Report on MongoDB
MongoDB Stock Performance
MongoDB stock traded up $32.19 during trading on Thursday, reaching $231.92. 5,962,305 shares of the company’s stock were exchanged, compared to its average volume of 1,917,792. The company’s 50-day moving average is $174.22 and its two-hundred day moving average is $231.03. MongoDB has a 52-week low of $140.78 and a 52-week high of $370.00. The firm has a market cap of $18.83 billion, a price-to-earnings ratio of -84.43 and a beta of 1.40.
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 analysts’ consensus estimates of $0.65 by $0.35. The business had revenue of $549.01 million for the quarter, compared to analyst estimates of $527.49 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The company’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.51 EPS. Analysts anticipate that MongoDB will post -1.78 EPS for the current year.
Insider Activity at MongoDB
In other MongoDB news, Director Hope F. Cochran sold 1,175 shares of the business’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $174.69, for a total value of $205,260.75. Following the completion of the transaction, the director now directly owns 19,333 shares of the company’s stock, valued at approximately $3,377,281.77. The trade was a 5.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Dev Ittycheria sold 18,512 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total transaction of $3,207,389.12. Following the transaction, the chief executive officer now owns 268,948 shares of the company’s stock, valued at approximately $46,597,930.48. This represents a 6.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,203 shares of company stock valued at $3,848,569 in the last ninety days. Insiders own 3.10% of the company’s stock.
Institutional Trading of MongoDB
A number of institutional investors have recently made changes to their positions in MDB. Jericho Capital Asset Management L.P. bought a new stake in MongoDB during the first quarter worth $161,543,000. Norges Bank bought a new position in MongoDB during the fourth quarter worth about $189,584,000. Primecap Management Co. CA increased its position in MongoDB by 863.5% during the first quarter. Primecap Management Co. CA now owns 870,550 shares of the company’s stock worth $152,694,000 after acquiring an additional 780,200 shares during the period. Westfield Capital Management Co. LP acquired a new stake in MongoDB during the first quarter worth about $128,706,000. Finally, Vanguard Group Inc. boosted its stake in shares of MongoDB by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 7,809,768 shares of the company’s stock valued at $1,369,833,000 after purchasing an additional 481,023 shares in the last quarter. Institutional investors own 89.29% of the company’s stock.
About MongoDB
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.
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