MMS • RSS
On September 5, 2023, Canaccord Genuity analyst David Hynes expressed his positive outlook on MongoDB (NASDAQ:MDB) by maintaining a Buy rating and raising the price target from $410 to $450. This indicates a bullish sentiment towards the company’s stock.
It is worth noting that the average outperform rating and price target range for MongoDB, as reported by analysts polled by Capital IQ, is between $250 and $500. This suggests a wide range of expectations among market experts regarding the future performance of the stock.
Previously, on June 6, 2023, Canaccord Genuity analyst David Hynes had already given MongoDB a Buy rating and had increased the price target, although the specific amount was not disclosed. This implies a consistent positive sentiment towards the company over time.
According to MarketBeat, the consensus price target for MongoDB among analysts is $407.39, with a projected upside of 3.7% from its current price of $392.88. This indicates that analysts, on average, expect the stock to experience a modest increase in value.
Overall, the outlook for MongoDB appears to be positive, with analysts expressing confidence in its growth potential. However, it is important to consider that these projections are subject to change as market conditions evolve.
Updated on: 05/09/2023
We did not find social sentiment data for this stock
|Analyst / firm||Rating|
MDB Stock Performance: Mixed Results on September 5, 2023
On September 5, 2023, MongoDB Inc. (MDB) experienced a mixed performance in the stock market. MDB’s previous close was $393.32, and the stock opened at $389.55 on September 5th. Throughout the day, the stock’s price fluctuated between a low of $389.55 and a high of $398.40. The trading volume for the day was 53,042 shares, which is significantly lower than the average volume of 1,767,765 shares over the past three months.
MDB is considered a mid-sized company in the technology services sector with a market capitalization of $28.0 billion. The company’s earnings growth last year was -5.89%, indicating a decline in profitability. However, this year’s earnings growth has seen a significant improvement, with an impressive growth rate of +92.12%. Looking ahead, analysts forecast a more modest earnings growth rate of +8.00% over the next five years.
MDB’s revenue growth last year was +46.95%. This indicates that the company has been successful in increasing its top line. However, it’s important to note that the company’s profitability has been impacted negatively, as evidenced by the negative net profit margin of -26.90%.
MDB’s price-to-sales ratio stands at 11.45, while the price-to-book ratio is 37.12. These ratios indicate that the stock may be trading at a premium compared to its industry peers. It’s worth noting that the price-to-earnings (P/E) ratio is not available (NM), suggesting that the company may not have positive earnings at the moment.
On September 5th, MDB’s stock price experienced a decline of -0.93, representing a -0.29% change from the previous day’s close. This performance is in line with the overall downward trend observed in the technology services industry on that day. Other notable companies in the industry, such as ANSS (ANSYS Inc) and HUBS (HubSpot Inc), also experienced negative price changes of -0.29% and -1.15%, respectively. Take-Two Interactive (TTWO) had a minor decline of -0.19%.
MDB’s next reporting date is scheduled for December 6, 2023. Analysts are forecasting earnings per share (EPS) of $0.27 for the current quarter. The company’s annual revenue for the previous year was $1.3 billion, while the annual profit was -$345.4 million.
In conclusion, MDB’s stock performance on September 5, 2023, was relatively mixed. While the stock experienced a slight decline, the company’s earnings growth this year has been impressive. However, profitability remains a concern, as indicated by the negative net profit margin. Investors should closely monitor the company’s future earnings reports and keep an eye on industry trends to make informed investment decisions.
MongoDB Inc (MDB) Stock Forecast: Analysts Predict 13.78% Growth with a Median Target Price of $450.00
On September 5, 2023, MongoDB Inc (MDB) had a median target price of $450.00, according to 23 analysts offering 12-month price forecasts. The high estimate was $500.00, while the low estimate was $250.00. This median estimate represented a 13.78% increase from the last price of $395.51.
The consensus among 28 polled investment analysts was to buy stock in MongoDB Inc. This rating had remained unchanged since September, indicating a consistent positive sentiment towards the company’s stock.
In terms of financial performance, MongoDB Inc reported earnings per share of $0.27 for the current quarter. Additionally, the company recorded sales of $389.8 million. The reporting date for these figures was December 6.
Based on the analyst forecasts and the consensus buy rating, it seems that investors have high expectations for MongoDB Inc’s stock performance. The median target price of $450.00 suggests that analysts believe the stock has room to grow by approximately 13.78%.
Investors should conduct thorough research and analysis before making any investment decisions.