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MongoDB (NASDAQ:MDB – Get Free Report) had its target price boosted by analysts at Bank of America from $215.00 to $275.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s target price would suggest a potential upside of 24.92% from the stock’s current price.
Several other equities research analysts have also commented on MDB. Citigroup reduced their price objective on MongoDB from $430.00 to $330.00 and set a “buy” rating for the company in a research note on Tuesday, April 1st. Scotiabank upped their price target on MongoDB from $160.00 to $230.00 and gave the stock a “sector perform” rating in a research report on Thursday. Mizuho decreased their price objective on MongoDB from $250.00 to $190.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 15th. Wells Fargo & Company downgraded MongoDB from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $365.00 to $225.00 in a research note on Thursday, March 6th. Finally, Monness Crespi & Hardt raised shares of MongoDB from a “neutral” rating to a “buy” rating and set a $295.00 target price for the company in a report on Thursday. Eight research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $282.47.
View Our Latest Stock Analysis on MDB
MongoDB Stock Down 2.3%
NASDAQ MDB opened at $220.14 on Thursday. MongoDB has a 52 week low of $140.78 and a 52 week high of $370.00. The firm has a market capitalization of $17.87 billion, a P/E ratio of -80.34 and a beta of 1.40. The company has a 50-day moving average price of $176.52 and a 200-day moving average price of $229.93.
MongoDB (NASDAQ:MDB – Get Free Report) last announced its earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.35. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The company had revenue of $549.01 million during the quarter, compared to analyst estimates of $527.49 million. During the same period in the previous year, the business posted $0.51 earnings per share. The firm’s quarterly revenue was up 21.8% compared to the same quarter last year. As a group, equities research analysts anticipate that MongoDB will post -1.78 EPS for the current year.
Insider Activity at MongoDB
In related news, Director Hope F. Cochran sold 1,175 shares of the company’s stock in a transaction 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 sale, the director now owns 19,333 shares of the company’s stock, valued at $3,377,281.77. This represents a 5.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Dev Ittycheria sold 18,512 shares of MongoDB stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total transaction of $3,207,389.12. Following the completion of the transaction, the chief executive officer now directly owns 268,948 shares of the company’s stock, valued at $46,597,930.48. The trade was a 6.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,203 shares of company stock valued at $3,848,569. Insiders own 3.10% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cloud Capital Management LLC purchased a new stake in MongoDB during the first quarter valued at approximately $25,000. Hollencrest Capital Management bought a new position in shares of MongoDB during the 1st quarter valued at approximately $26,000. Cullen Frost Bankers Inc. raised its holdings in MongoDB by 315.8% during the 1st quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company’s stock valued at $28,000 after buying an additional 120 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in MongoDB in the fourth quarter worth $29,000. Finally, NCP Inc. purchased a new position in MongoDB during the fourth quarter worth $35,000. Hedge funds and other 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.
Further Reading
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