Mongodb (NASDAQ:MDB) had its price target boosted by investment analysts at Monness Crespi & Hardt from $90.00 to $110.00 in a report issued on Thursday, Marketbeat.com reports. The brokerage currently has a “buy” rating on the stock. Monness Crespi & Hardt’s price target indicates a potential upside of 30.41% from the stock’s current price.
MDB has been the topic of a number of other reports. Morgan Stanley upped their target price on shares of Mongodb from $41.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 30th. Needham & Company LLC upped their target price on shares of Mongodb from $57.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, September 4th. Nomura downgraded shares of Mongodb from a “neutral” rating to a “reduce” rating and upped their target price for the stock from $43.00 to $63.00 in a research report on Tuesday, October 2nd. They noted that the move was a valuation call. Zacks Investment Research raised shares of Mongodb from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st. Finally, DA Davidson initiated coverage on shares of Mongodb in a research report on Tuesday, October 2nd. They issued a “neutral” rating and a $80.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $81.85.
NASDAQ:MDB opened at $84.35 on Thursday. The stock has a market capitalization of $4.74 billion, a PE ratio of -48.48 and a beta of -0.64. The company has a current ratio of 3.74, a quick ratio of 3.74 and a debt-to-equity ratio of 1.01. Mongodb has a 1-year low of $24.62 and a 1-year high of $93.23.
In related news, CEO Dev Ittycheria sold 63,600 shares of the company’s stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $84.11, for a total value of $5,349,396.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Whale Rock Capital Management sold 683,871 shares of the company’s stock in a transaction dated Friday, November 30th. The stock was sold at an average price of $82.39, for a total transaction of $56,344,131.69. The disclosure for this sale can be found here. In the last quarter, insiders sold 973,904 shares of company stock worth $79,863,660. 40.04% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. UBS Group AG boosted its stake in Mongodb by 267.4% in the 1st quarter. UBS Group AG now owns 5,052 shares of the company’s stock worth $219,000 after purchasing an additional 3,677 shares in the last quarter. OppenheimerFunds Inc. lifted its stake in Mongodb by 144.7% during the 2nd quarter. OppenheimerFunds Inc. now owns 411,490 shares of the company’s stock valued at $20,423,000 after acquiring an additional 243,350 shares during the period. Whale Rock Capital Management LLC lifted its stake in Mongodb by 587.8% during the 2nd quarter. Whale Rock Capital Management LLC now owns 3,830,271 shares of the company’s stock valued at $190,096,000 after acquiring an additional 3,273,409 shares during the period. Macquarie Group Ltd. bought a new position in Mongodb during the 2nd quarter valued at about $1,951,000. Finally, FMR LLC lifted its stake in Mongodb by 7,986.7% during the 2nd quarter. FMR LLC now owns 2,268,485 shares of the company’s stock valued at $112,585,000 after acquiring an additional 2,240,433 shares during the period. Institutional investors own 50.44% of the company’s stock.
Mongodb Company Profile
MongoDB, Inc operates as a general purpose database platform worldwide. The company offers MongoDB Enterprise Advanced, a subscription package for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; MongoDB Atlas, a cloud-hosted database-as-a-service solution; 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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