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MongoDB, Inc. (NASDAQ:MDB – Get Free Report)’s stock price shot up 3.3% during mid-day trading on Thursday . The company traded as high as $217.96 and last traded at $217.54. 350,033 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 1,949,819 shares. The stock had previously closed at $210.60.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on MDB. The Goldman Sachs Group decreased their target price on MongoDB from $390.00 to $335.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Guggenheim lifted their price target on MongoDB from $235.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, June 5th. Canaccord Genuity Group reduced their price target on MongoDB from $385.00 to $320.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. JMP Securities reiterated a “market outperform” rating and issued a $345.00 price target on shares of MongoDB in a research report on Thursday, June 5th. Finally, Loop Capital cut MongoDB from a “buy” rating to a “hold” rating and reduced their price target for the company from $350.00 to $190.00 in a research report on Tuesday, May 20th. Eight equities 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 company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $282.47.
View Our Latest Stock Analysis on MongoDB
MongoDB Price Performance
The company has a 50 day simple moving average of $179.38 and a 200-day simple moving average of $227.94. The stock has a market cap of $17.10 billion, a P/E ratio of -76.88 and a beta of 1.39.
MongoDB (NASDAQ:MDB – Get Free Report) last posted its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.35. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The business had revenue of $549.01 million for the quarter, compared to analyst estimates of $527.49 million. During the same period last year, the company earned $0.51 EPS. MongoDB’s revenue for the quarter was up 21.8% compared to the same quarter last year. As a group, research analysts expect that MongoDB, Inc. will post -1.78 earnings per share for the current year.
Insider Transactions at MongoDB
In other MongoDB news, CAO Thomas Bull sold 301 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $173.25, for a total value of $52,148.25. Following the transaction, the chief accounting officer now owns 14,598 shares in the company, valued at approximately $2,529,103.50. The trade was a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Cedric Pech sold 1,690 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total transaction of $292,809.40. Following the completion of the transaction, the insider now owns 57,634 shares in the company, valued at $9,985,666.84. The trade was a 2.85% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,208 shares of company stock worth $10,167,739. Insiders own 3.10% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of MDB. Summit Trail Advisors LLC bought a new position in MongoDB during the 4th quarter valued at approximately $224,000. Allspring Global Investments Holdings LLC raised its position in MongoDB by 9.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 191,115 shares of the company’s stock valued at $46,691,000 after purchasing an additional 15,825 shares during the last quarter. Van ECK Associates Corp bought a new position in MongoDB during the 4th quarter valued at approximately $211,000. Stanley Laman Group Ltd. bought a new position in MongoDB during the 4th quarter valued at approximately $7,520,000. Finally, Avestar Capital LLC raised its position in MongoDB by 2.0% during the 4th quarter. Avestar Capital LLC now owns 2,165 shares of the company’s stock valued at $504,000 after purchasing an additional 42 shares during 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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