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MongoDB (NASDAQ:MDB – Get Free Report)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a research report issued on Wednesday, Benzinga reports. They currently have a $495.00 price objective on the stock. Needham & Company LLC’s price target points to a potential upside of 22.09% from the company’s current price.
Other equities research analysts have also issued reports about the stock. Wells Fargo & Company started coverage on shares of MongoDB in a report on Thursday, November 16th. They issued an “overweight” rating and a $500.00 target price for the company. Capital One Financial upgraded shares of MongoDB from an “equal weight” rating to an “overweight” rating and set a $427.00 target price on the stock in a research note on Wednesday, November 8th. Bank of America initiated coverage on MongoDB in a research note on Thursday, October 12th. They issued a “buy” rating and a $450.00 price target for the company. Royal Bank of Canada boosted their price objective on MongoDB from $445.00 to $475.00 and gave the company an “outperform” rating in a research report on Wednesday, December 6th. Finally, TheStreet upgraded MongoDB from a “d+” rating to a “c-” rating in a research report on Friday, December 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat.com, MongoDB presently has a consensus rating of “Moderate Buy” and a consensus price target of $430.41.
MongoDB Price Performance
NASDAQ MDB opened at $405.44 on Wednesday. The stock has a market capitalization of $29.26 billion, a price-to-earnings ratio of -153.58 and a beta of 1.23. MongoDB has a 1-year low of $179.52 and a 1-year high of $442.84. The company has a debt-to-equity ratio of 1.18, a current ratio of 4.74 and a quick ratio of 4.74. The business’s fifty day moving average price is $399.14 and its 200-day moving average price is $380.69.
MongoDB (NASDAQ:MDB – Get Free Report) last announced its earnings results on Tuesday, December 5th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.45. The company had revenue of $432.94 million during the quarter, compared to analyst estimates of $406.33 million. MongoDB had a negative net margin of 11.70% and a negative return on equity of 20.64%. The firm’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.23) earnings per share. On average, equities analysts predict that MongoDB will post -1.64 earnings per share for the current year.
Insider Buying and Selling
In other news, CEO Dev Ittycheria sold 100,500 shares of the stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $375.00, for a total value of $37,687,500.00. Following the sale, the chief executive officer now directly owns 214,177 shares in the company, valued at $80,316,375. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Dwight A. Merriman sold 4,000 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $332.23, for a total value of $1,328,920.00. Following the transaction, the director now owns 1,191,159 shares of the company’s stock, valued at $395,738,754.57. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Dev Ittycheria sold 100,500 shares of MongoDB stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $375.00, for a total value of $37,687,500.00. Following the sale, the chief executive officer now directly owns 214,177 shares of the company’s stock, valued at $80,316,375. The disclosure for this sale can be found here. Insiders have sold 147,029 shares of company stock valued at $56,304,511 in the last ninety days. 4.80% of the stock is owned by company insiders.
Hedge Funds Weigh In On MongoDB
Several institutional investors have recently made changes to their positions in the company. GPS Wealth Strategies Group LLC purchased a new position in MongoDB during the 2nd quarter valued at about $26,000. KB Financial Partners LLC purchased a new position in MongoDB during the second quarter valued at approximately $27,000. Capital Advisors Ltd. LLC raised its stake in MongoDB by 131.0% in the second quarter. Capital Advisors Ltd. LLC now owns 67 shares of the company’s stock worth $28,000 after buying an additional 38 shares in the last quarter. BluePath Capital Management LLC purchased a new stake in MongoDB during the third quarter worth $30,000. Finally, Parkside Financial Bank & Trust boosted its position in MongoDB by 176.5% during the 2nd quarter. Parkside Financial Bank & Trust now owns 94 shares of the company’s stock valued at $39,000 after acquiring an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.
MongoDB Company Profile
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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