MongoDB (NASDAQ:MDB) PT Raised to $275.00 at UBS Group

MongoDB (NASDAQ:MDB) had its target price lifted by UBS Group from $250.00 to $275.00 in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

MDB has been the topic of several other reports. JMP Securities cut their price target on shares of MongoDB from $440.00 to $380.00 and set a market outperform rating on the stock in a report on Friday, May 31st. Stifel Nicolaus upped their price target on shares of MongoDB from $300.00 to $325.00 and gave the company a buy rating in a report on Friday. Needham & Company LLC reiterated a buy rating and set a $290.00 price target on shares of MongoDB in a report on Thursday, June 13th. Morgan Stanley upped their price target on shares of MongoDB from $320.00 to $340.00 and gave the company an overweight rating in a report on Friday. Finally, Barclays cut their price target on shares of MongoDB from $458.00 to $290.00 and set an overweight rating on the stock in a report on Friday, May 31st. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat, MongoDB has an average rating of Moderate Buy and an average target price of $341.27.

MongoDB Stock Up 18.3 %

Shares of NASDAQ MDB opened at $290.79 on Friday. The firm’s 50-day moving average price is $249.36 and its 200-day moving average price is $312.37. The company has a current ratio of 4.93, a quick ratio of 4.93 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $21.33 billion, a price-to-earnings ratio of -103.48 and a beta of 1.13. MongoDB has a 12-month low of $212.74 and a 12-month high of $509.62.

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

Insider Activity at MongoDB

In related news, Director Dwight A. Merriman sold 2,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $231.00, for a total transaction of $462,000.00. Following the completion of the sale, 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 at this hyperlink. In related news, Director Dwight A. Merriman sold 2,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $231.00, for a total transaction of $462,000.00. Following the completion of the sale, 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 at this hyperlink. Also, CRO Cedric Pech sold 273 shares of the firm’s stock in a transaction 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 transaction, the executive now directly owns 35,719 shares of the company’s stock, valued at approximately $9,475,893.51. The disclosure for this sale can be found here. Insiders sold 28,179 shares of company stock valued at $6,900,509 over the last 90 days. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Sycomore Asset Management raised its holdings in shares of MongoDB by 86.4% in the second quarter. Sycomore Asset Management now owns 53,568 shares of the company’s stock worth $12,884,000 after buying an additional 24,827 shares during the last quarter. Truist Financial Corp boosted its holdings in MongoDB by 15.9% in 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 last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in MongoDB by 12.0% in the second quarter. B. Riley Wealth Advisors Inc. now owns 1,242 shares of the company’s stock valued at $310,000 after purchasing an additional 133 shares during the last quarter. Quarry LP grew its position in MongoDB by 2,580.0% during the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after purchasing an additional 129 shares during the period. Finally, Creative Planning raised its stake 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. Hedge funds and other institutional investors own 89.29% of the company’s stock.

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.