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MongoDB Receives Target Price Increase from Sanford C. Bernstein Analysts

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Posted on mongodb google news. Visit mongodb google news

MongoDB Receives Target Price Increase from Sanford C. Bernstein Analysts

Investment analysts at Sanford C. Bernstein have raised their target price for MongoDB (NASDAQ:MDB) from $424.00 to $471.00. This new target price reflects a potential upside of 19.88% from the company’s previous close, according to a research note issued to investors. Other research reports have also highlighted the positive outlook for MongoDB, with Truist Financial, William Blair, Tigress Financial, Guggenheim, and The Goldman Sachs Group all raising their target prices and providing favorable ratings for the company.

MongoDB traded at $392.88 on Friday and has a 52-week range of $135.15 to $439.00. The company reported positive earnings results for the quarter, beating analysts’ consensus estimates with earnings per share of $0.56. MongoDB saw a year-over-year increase in revenue of 29.0%.

In related news, insiders at MongoDB have been active in their trading activity. Director Dwight A. Merriman sold 1,000 shares of the company’s stock, while CEO Dev Ittycheria sold 50,000 shares. Hedge funds and institutional investors hold a significant portion of the company’s stock, with abrdn plc, Skandinaviska Enskilda Banken AB publ, Clarius Group LLC, Moody Lynn & Lieberson LLC, and Daiwa Securities Group Inc. all increasing their holdings.

MongoDB provides a 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, and Community Server, a free-to-download version of its database.

– Sanford C. Bernstein
– Truist Financial
– William Blair
– Tigress Financial
– Guggenheim
– The Goldman Sachs Group
– Securities and Exchange Commission (SEC)
– abrdn plc
– Skandinaviska Enskilda Banken AB publ
– Clarius Group LLC
– Moody Lynn & Lieberson LLC
– Daiwa Securities Group Inc.
– MarketBeat

Article originally posted on mongodb google news. Visit mongodb google news

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