MongoDB (NASDAQ:MDB) Price Target Raised to $350.00

MongoDB (NASDAQ:MDB) had its price objective lifted by analysts at Bank of America from $300.00 to $350.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price objective would suggest a potential upside of 20.36% from the stock’s current price.

Several other research analysts also recently issued reports on the stock. Stifel Nicolaus reduced their price target on shares of MongoDB from $435.00 to $300.00 and set a “buy” rating on the stock in a research report on Friday, May 31st. Oppenheimer lowered their price target on shares of MongoDB from $480.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, May 31st. Loop Capital reduced their price objective on MongoDB from $415.00 to $315.00 and set a “buy” rating on the stock in a report on Friday, May 31st. Truist Financial lowered their target price on MongoDB from $475.00 to $300.00 and set a “buy” rating for the company in a research note on Friday, May 31st. Finally, Mizuho upped their price target on MongoDB from $250.00 to $275.00 and gave the company a “neutral” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $345.52.

MongoDB Stock Up 18.3 %

NASDAQ MDB opened at $290.79 on Friday. The stock’s 50 day simple moving average is $248.22 and its 200 day simple moving average is $314.87. MongoDB has a one year low of $212.74 and a one year high of $509.62. The firm has a market cap of $21.33 billion, a PE ratio of -103.48 and a beta of 1.13. The company has a debt-to-equity ratio of 0.90, a current ratio of 4.93 and a quick ratio of 4.93.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Thursday, May 30th. The company reported ($0.80) EPS for the quarter, hitting analysts’ consensus estimates of ($0.80). MongoDB had a negative return on equity of 14.88% and a negative net margin of 11.50%. The company had revenue of $450.56 million for the quarter, compared to analyst estimates of $438.44 million. As a group, sell-side analysts forecast that MongoDB will post -2.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In other MongoDB news, Director Dwight A. Merriman sold 2,000 shares of MongoDB stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $231.00, for a total value of $462,000.00. Following the transaction, the director now owns 1,140,006 shares of the company’s stock, valued at $263,341,386. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Michael Lawrence Gordon sold 5,000 shares of the stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $252.23, for a total transaction of $1,261,150.00. Following the completion of the transaction, the chief financial officer now directly owns 81,942 shares in the company, valued at $20,668,230.66. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Dwight A. Merriman sold 2,000 shares of MongoDB stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $231.00, for a total value of $462,000.00. Following the completion of the sale, the director now directly owns 1,140,006 shares in the company, valued at approximately $263,341,386. The disclosure for this sale can be found here. In the last three months, insiders sold 30,179 shares of company stock valued at $7,368,989. 3.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MongoDB

Several hedge funds have recently made changes to their positions in MDB. Vanguard Group Inc. lifted its position in shares of MongoDB by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 6,842,413 shares of the company’s stock worth $2,797,521,000 after purchasing an additional 194,148 shares in the last quarter. Atalanta Sosnoff Capital LLC lifted its position in MongoDB by 24.7% during the 4th quarter. Atalanta Sosnoff Capital LLC now owns 54,311 shares of the company’s stock worth $22,205,000 after buying an additional 10,753 shares in the last quarter. Fiera Capital Corp boosted its stake in shares of MongoDB by 0.8% during the 4th quarter. Fiera Capital Corp now owns 224,293 shares of the company’s stock worth $91,702,000 after buying an additional 1,695 shares during the last quarter. Artisan Partners Limited Partnership bought a new position in shares of MongoDB in the 4th quarter valued at about $10,545,000. Finally, Prudential PLC increased its position in shares of MongoDB by 2.4% in the fourth quarter. Prudential PLC now owns 21,169 shares of the company’s stock valued at $8,655,000 after acquiring an additional 489 shares during the last quarter. 89.29% of the stock is owned by institutional investors.

About MongoDB

MongoDB, Inc, together with its subsidiaries, provides general purpose database platform worldwide. The company provides 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-premises, 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.