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MongoDB (NASDAQ:MDB – Free Report) had its price target lifted by Piper Sandler from $200.00 to $275.00 in a research note released on Thursday,Benzinga reports. They currently have an overweight rating on the stock.
MDB has been the subject of a number of other research reports. Robert W. Baird reduced their price objective on MongoDB from $390.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Oppenheimer cut their price target on MongoDB from $400.00 to $330.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Loop Capital lowered MongoDB from a “buy” rating to a “hold” rating and cut their price target for the company from $350.00 to $190.00 in a research note on Tuesday, May 20th. Royal Bank of Canada restated an “outperform” rating and issued a $320.00 price target on shares of MongoDB in a research note on Tuesday, May 20th. Finally, Redburn Atlantic upgraded MongoDB from a “sell” rating to a “neutral” rating and set a $170.00 price target for the company in a research note on Thursday, April 17th. Eight equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, MongoDB currently has a consensus rating of “Moderate Buy” and an average price target of $282.00.
View Our Latest Stock Analysis on MongoDB
MongoDB Stock Performance
Shares of MDB opened at $225.38 on Thursday. The stock has a 50-day moving average of $175.65 and a two-hundred day moving average of $230.40. MongoDB has a one year low of $140.78 and a one year high of $370.00. The stock has a market cap of $18.30 billion, a P/E ratio of -82.26 and a beta of 1.40.
MongoDB (NASDAQ:MDB – Get Free Report) last issued its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates 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 12.22% and a negative net margin of 10.46%. The firm’s revenue was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.51 EPS. Analysts predict that MongoDB will post -1.78 EPS for the current fiscal year.
Insider Activity at MongoDB
In other news, Director Hope F. Cochran sold 1,175 shares of MongoDB stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $174.69, for a total transaction of $205,260.75. Following the completion of the sale, the director now directly owns 19,333 shares in the company, valued at approximately $3,377,281.77. This trade represents a 5.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Thomas Bull sold 301 shares of MongoDB stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $173.25, for a total transaction of $52,148.25. Following the sale, the chief accounting officer now owns 14,598 shares of the company’s stock, valued at approximately $2,529,103.50. The trade was a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,203 shares of company stock worth $3,848,569 over the last 90 days. Company insiders own 3.10% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. HighTower Advisors LLC grew its stake in MongoDB by 2.0% in the 4th quarter. HighTower Advisors LLC now owns 18,773 shares of the company’s stock worth $4,371,000 after acquiring an additional 372 shares during the period. Jones Financial Companies Lllp grew its stake in MongoDB by 68.0% in the 4th quarter. Jones Financial Companies Lllp now owns 1,020 shares of the company’s stock worth $237,000 after acquiring an additional 413 shares during the period. Smartleaf Asset Management LLC grew its stake in MongoDB by 56.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 370 shares of the company’s stock worth $87,000 after acquiring an additional 134 shares during the period. Steward Partners Investment Advisory LLC grew its stake in MongoDB by 12.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,168 shares of the company’s stock worth $272,000 after acquiring an additional 133 shares during the period. Finally, Stanley Laman Group Ltd. purchased a new stake in MongoDB in the 4th quarter worth approximately $7,520,000. 89.29% of the stock is currently 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.
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