MongoDB (NASDAQ:MDB) PT Raised to $320.00 at Truist Financial

MongoDB (NASDAQ:MDB) had its price target upped by Truist Financial from $300.00 to $320.00 in a research note published on Friday, Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also recently commented on the company. Robert W. Baird decreased their price target on MongoDB from $450.00 to $305.00 and set an outperform rating on the stock in a research note on Friday, May 31st. Mizuho raised their target price on MongoDB from $250.00 to $275.00 and gave the company a neutral rating in a report on Friday. Bank of America boosted their price target on shares of MongoDB from $300.00 to $350.00 and gave the stock a buy rating in a research note on Friday. Morgan Stanley increased their price target on shares of MongoDB from $320.00 to $340.00 and gave the stock an overweight rating in a research report on Friday. Finally, Barclays dropped their price objective on shares of MongoDB from $458.00 to $290.00 and set an overweight rating for the company in a report on Friday, May 31st. One research 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. According to data from MarketBeat.com, MongoDB presently has a consensus rating of Moderate Buy and an average target price of $341.27.

MongoDB Stock Up 18.3 %

NASDAQ MDB opened at $290.79 on Friday. The business’s fifty day simple moving average is $249.36 and its 200-day simple moving average is $312.37. The company has a quick ratio of 4.93, a current ratio of 4.93 and a debt-to-equity ratio of 0.90. The firm has a market cap of $21.33 billion, a PE ratio of -103.48 and a beta of 1.13. MongoDB has a 52 week low of $212.74 and a 52 week high of $509.62.

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

Insider Buying and Selling at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 2,000 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 1,140,006 shares of the company’s stock, valued at approximately $263,341,386. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Michael Lawrence Gordon sold 5,000 shares of the stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $252.23, for a total value of $1,261,150.00. Following the completion of the transaction, the chief financial officer now owns 81,942 shares of the company’s stock, valued at $20,668,230.66. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Dwight A. Merriman sold 2,000 shares of MongoDB stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $231.00, for a total transaction of $462,000.00. Following the sale, the director now owns 1,140,006 shares in the company, valued at $263,341,386. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,179 shares of company stock worth $6,900,509. 3.60% of the stock is owned by insiders.

Hedge Funds Weigh In On MongoDB

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank bought a new position in MongoDB during the 4th quarter valued at $326,237,000. Jennison Associates LLC boosted its stake in MongoDB by 14.3% during the first quarter. Jennison Associates LLC now owns 4,408,424 shares of the company’s stock valued at $1,581,037,000 after buying an additional 551,567 shares in the last quarter. Swedbank AB grew its holdings in MongoDB by 156.3% during the second quarter. Swedbank AB now owns 656,993 shares of the company’s stock worth $164,222,000 after acquiring an additional 400,705 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of MongoDB by 1,098.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock worth $106,084,000 after purchasing an additional 388,979 shares during the last quarter. Finally, Axiom Investors LLC DE bought a new stake in shares of MongoDB in the 4th quarter worth approximately $153,990,000. 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.