MongoDB (NASDAQ:MDB) PT Raised to $350.00

MongoDB (NASDAQ:MDB) had its price target boosted by analysts at Oppenheimer from $300.00 to $350.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s target price would suggest a potential upside of 20.36% from the company’s previous close.

MDB has been the topic of a number of other research reports. Robert W. Baird cut their target price on shares of MongoDB from $450.00 to $305.00 and set an “outperform” rating on the stock in a report on Friday, May 31st. Canaccord Genuity Group reduced their price objective on MongoDB from $435.00 to $325.00 and set a “buy” rating for the company in a research report on Friday, May 31st. Guggenheim raised MongoDB from a “sell” rating to a “neutral” rating in a research report on Monday, June 3rd. Citigroup reduced their price target on shares of MongoDB from $480.00 to $350.00 and set a “buy” rating for the company in a report on Monday, June 3rd. Finally, Tigress Financial dropped their price objective on shares of MongoDB from $500.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $345.52.

MongoDB Stock Performance

MDB stock 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 12-month low of $212.74 and a 12-month high of $509.62. The firm has a market cap of $21.33 billion, a P/E ratio of -103.48 and a beta of 1.13. The company has a current ratio of 4.93, a quick ratio of 4.93 and a debt-to-equity ratio of 0.90.

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

Insider Activity at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 2,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Dwight A. Merriman sold 2,000 shares of MongoDB stock in a transaction dated Friday, August 2nd. The stock was 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 approximately $263,341,386. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Hope F. Cochran sold 1,174 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $224.38, for a total transaction of $263,422.12. Following the sale, the director now directly owns 13,011 shares of the company’s stock, valued at $2,919,408.18. The disclosure for this sale can be found here. Insiders sold a total of 30,179 shares of company stock valued at $7,368,989 over the last ninety days. Insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

Several large investors have recently added to or reduced their stakes in MDB. Quadrant Capital Group LLC grew its holdings in shares of MongoDB by 5.6% during the fourth quarter. Quadrant Capital Group LLC now owns 412 shares of the company’s stock valued at $168,000 after buying an additional 22 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in MongoDB by 12.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 226 shares of the company’s stock valued at $92,000 after acquiring an additional 25 shares in the last quarter. Yousif Capital Management LLC increased its holdings in shares of MongoDB by 3.9% in the 4th quarter. Yousif Capital Management LLC now owns 792 shares of the company’s stock valued at $324,000 after purchasing an additional 30 shares during the period. First Trust Direct Indexing L.P. lifted its position in shares of MongoDB by 2.2% in the fourth quarter. First Trust Direct Indexing L.P. now owns 1,561 shares of the company’s stock worth $638,000 after purchasing an additional 33 shares in the last quarter. Finally, Raleigh Capital Management Inc. boosted its holdings in shares of MongoDB by 24.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 182 shares of the company’s stock worth $74,000 after purchasing an additional 36 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

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.