DA Davidson Raises MongoDB (NASDAQ:MDB) Price Target to $330.00

MongoDB (NASDAQ:MDB) had its target price boosted by DA Davidson from $265.00 to $330.00 in a research note issued to investors on Friday morning, Benzinga reports. DA Davidson currently has a buy rating on the stock.

A number of other brokerages also recently issued reports on MDB. Truist Financial boosted their price target on shares of MongoDB from $300.00 to $320.00 and gave the stock a buy rating in a research report on Friday. Piper Sandler boosted their target price on shares of MongoDB from $300.00 to $335.00 and gave the company an overweight rating in a report on Friday. Morgan Stanley increased their price target on MongoDB from $320.00 to $340.00 and gave the stock an overweight rating in a report on Friday. Robert W. Baird dropped their price objective on MongoDB from $450.00 to $305.00 and set an outperform rating on the stock in a research note on Friday, May 31st. Finally, Sanford C. Bernstein raised their target price on MongoDB from $358.00 to $360.00 and gave the stock an outperform rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $341.27.

MongoDB Stock Up 18.3 %

Shares of NASDAQ MDB opened at $290.79 on Friday. MongoDB has a 1 year low of $212.74 and a 1 year high of $509.62. The company has a debt-to-equity ratio of 0.90, a current ratio of 4.93 and a quick ratio of 4.93. 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 50 day simple moving average of $248.22 and a 200 day simple moving average of $313.66.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Thursday, August 29th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.21. The company had revenue of $478.11 million for the quarter, compared to analyst estimates of $465.03 million. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.95%. MongoDB’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.63) earnings per share. On average, research analysts forecast that MongoDB will post -2.67 EPS for the current year.

Insider Activity at MongoDB

In other MongoDB news, CAO Thomas Bull sold 138 shares of MongoDB stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $265.29, for a total transaction of $36,610.02. Following the transaction, the chief accounting officer now directly owns 17,222 shares of the company’s stock, valued at approximately $4,568,824.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CRO Cedric Pech sold 273 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $265.29, for a total transaction of $72,424.17. Following the completion of the sale, the executive now directly owns 35,719 shares of the company’s stock, valued at $9,475,893.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Thomas Bull sold 138 shares of MongoDB stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $265.29, for a total value of $36,610.02. Following the sale, the chief accounting officer now owns 17,222 shares in the company, valued at $4,568,824.38. 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 insiders.

Institutional Investors Weigh In On MongoDB

Several large investors have recently made changes to their positions in MDB. Sycomore Asset Management grew its position in shares of MongoDB by 86.4% during the 2nd quarter. Sycomore Asset Management now owns 53,568 shares of the company’s stock valued at $12,884,000 after acquiring an additional 24,827 shares during the period. Truist Financial Corp grew its holdings in MongoDB by 15.9% during the second quarter. Truist Financial Corp now owns 40,184 shares of the company’s stock valued at $10,044,000 after purchasing an additional 5,509 shares during the period. B. Riley Wealth Advisors Inc. increased its position in MongoDB by 12.0% in the second quarter. B. Riley Wealth Advisors Inc. now owns 1,242 shares of the company’s stock worth $310,000 after buying an additional 133 shares during the last quarter. Quarry LP raised its stake in shares of MongoDB by 2,580.0% in the second quarter. Quarry LP now owns 134 shares of the company’s stock valued at $33,000 after buying an additional 129 shares during the period. Finally, Creative Planning lifted its position in shares of MongoDB by 115.0% during the 2nd quarter. Creative Planning now owns 14,991 shares of the company’s stock valued at $3,747,000 after buying an additional 8,019 shares during the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

MongoDB Company Profile

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.