MongoDB (NASDAQ:MDB) Price Target Raised to $500.00

MongoDB (NASDAQ:MDB) had its target price raised by equities researchers at Tigress Financial from $495.00 to $500.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Tigress Financial’s target price points to a potential upside of 38.45% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Stifel Nicolaus reiterated a “buy” rating and set a $435.00 price target on shares of MongoDB in a research note on Thursday, March 14th. JMP Securities restated a “market outperform” rating and issued a $440.00 price target on shares of MongoDB in a research report on Monday, January 22nd. Mizuho increased their price objective on MongoDB from $330.00 to $420.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 6th. Needham & Company LLC restated a “buy” rating and set a $495.00 price target on shares of MongoDB in a research note on Wednesday, January 17th. Finally, Royal Bank of Canada increased their target price on MongoDB from $445.00 to $475.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 6th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, MongoDB has an average rating of “Moderate Buy” and a consensus price target of $449.85.

MongoDB Stock Performance

MDB traded up $2.33 during trading on Thursday, hitting $361.13. 321,265 shares of the stock were exchanged, compared to its average volume of 1,411,965. The firm has a market capitalization of $26.07 billion, a P/E ratio of -145.82 and a beta of 1.24. MongoDB has a 1-year low of $198.72 and a 1-year high of $509.62. The stock has a fifty day moving average price of $416.10 and a two-hundred day moving average price of $390.35. The company has a quick ratio of 4.40, a current ratio of 4.40 and a debt-to-equity ratio of 1.07.

Insider Transactions at MongoDB

In other MongoDB news, CFO Michael Lawrence Gordon sold 10,000 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $469.84, for a total value of $4,698,400.00. Following the transaction, the chief financial officer now owns 70,985 shares in the company, valued at approximately $33,351,592.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other MongoDB news, Director Dwight A. Merriman sold 2,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $465.37, for a total transaction of $930,740.00. Following the transaction, the director now owns 1,166,784 shares of the company’s stock, valued at approximately $542,986,270.08. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Michael Lawrence Gordon sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $469.84, for a total value of $4,698,400.00. Following the sale, the chief financial officer now directly owns 70,985 shares in the company, valued at $33,351,592.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,607 shares of company stock valued at $23,116,062. Corporate insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On MongoDB

Several institutional investors and hedge funds have recently bought and sold shares of MDB. HighPoint Advisor Group LLC acquired a new position in MongoDB during the 4th quarter valued at approximately $706,000. PNC Financial Services Group Inc. grew its position in shares of MongoDB by 11.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,746 shares of the company’s stock worth $1,123,000 after acquiring an additional 272 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its position in MongoDB by 140.4% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 2,666 shares of the company’s stock valued at $1,090,000 after purchasing an additional 1,557 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of MongoDB by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 6,842,413 shares of the company’s stock valued at $2,797,521,000 after buying an additional 194,148 shares during the last quarter. Finally, SageView Advisory Group LLC bought a new position in MongoDB in the 4th quarter worth approximately $252,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

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.