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MongoDB (NASDAQ:MDB – Get Free Report) had its price objective boosted by analysts at Morgan Stanley from $440.00 to $480.00 in a research note issued on Friday, Marketbeat Ratings reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 22.17% from the company’s current price.
MDB has been the subject of several other reports. Truist Financial increased their price objective on shares of MongoDB from $365.00 to $420.00 in a research report on Friday, June 23rd. Guggenheim lifted their price objective on shares of MongoDB from $220.00 to $250.00 and gave the stock a “sell” rating in a research note on Friday. Royal Bank of Canada upped their target price on MongoDB from $400.00 to $445.00 in a research report on Friday, June 23rd. Oppenheimer lifted their price target on MongoDB from $270.00 to $430.00 in a research report on Friday, June 2nd. Finally, The Goldman Sachs Group increased their price objective on MongoDB from $420.00 to $440.00 in a report on Friday, June 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, MongoDB has a consensus rating of “Moderate Buy” and an average price target of $405.35.
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MongoDB Price Performance
NASDAQ MDB opened at $392.88 on Friday. MongoDB has a 12-month low of $135.15 and a 12-month high of $439.00. The firm’s fifty day simple moving average is $389.98 and its two-hundred day simple moving average is $304.60. The company has a current ratio of 4.19, a quick ratio of 4.19 and a debt-to-equity ratio of 1.44. The firm has a market capitalization of $27.73 billion, a P/E ratio of -84.13 and a beta of 1.13.
MongoDB (NASDAQ:MDB – Get Free Report) last announced its earnings results on Thursday, June 1st. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.38. The firm had revenue of $368.28 million for the quarter, compared to the consensus estimate of $347.77 million. MongoDB had a negative return on equity of 43.25% and a negative net margin of 23.58%. The firm’s revenue for the quarter was up 29.0% on a year-over-year basis. During the same period in the previous year, the business earned ($1.15) EPS. Analysts forecast that MongoDB will post -2.8 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, CAO Thomas Bull sold 516 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $406.78, for a total transaction of $209,898.48. Following the sale, the chief accounting officer now directly owns 17,190 shares in the company, valued at approximately $6,992,548.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other MongoDB news, CEO Dev Ittycheria sold 50,000 shares of the company’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $407.07, for a total transaction of $20,353,500.00. Following the completion of the transaction, the chief executive officer now directly owns 218,085 shares in the company, valued at $88,775,860.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Thomas Bull sold 516 shares of MongoDB stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $406.78, for a total transaction of $209,898.48. Following the completion of the sale, the chief accounting officer now owns 17,190 shares in the company, valued at approximately $6,992,548.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 76,551 shares of company stock worth $31,143,942. Company insiders own 4.80% 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 the stock. GPS Wealth Strategies Group LLC purchased a new stake in MongoDB during the 2nd quarter worth approximately $26,000. KB Financial Partners LLC acquired a new stake in shares of MongoDB in the second quarter worth approximately $27,000. Capital Advisors Ltd. LLC increased its position in shares of MongoDB by 131.0% during the second quarter. Capital Advisors Ltd. LLC now owns 67 shares of the company’s stock worth $28,000 after purchasing an additional 38 shares in the last quarter. Bessemer Group Inc. acquired a new position in MongoDB in the 4th quarter valued at $29,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in MongoDB during the 4th quarter worth $30,000. 88.89% of the stock is owned by hedge funds and other institutional investors.
About MongoDB
MongoDB, Inc provides 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 for enterprise customers to run in the cloud, on-premise, 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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