Piper Sandler Raises MongoDB (NASDAQ:MDB) Price Target to $335.00

MongoDB (NASDAQ:MDB) had its price objective upped by Piper Sandler from $300.00 to $335.00 in a research note issued to investors on Friday, Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

A number of other research analysts have also weighed in on MDB. DA Davidson upgraded MongoDB from a hold rating to a strong-buy rating in a report on Friday, May 31st. Canaccord Genuity Group dropped their target price on MongoDB from $435.00 to $325.00 and set a buy rating on the stock in a report on Friday, May 31st. Monness Crespi & Hardt upgraded MongoDB to a hold rating in a report on Tuesday, May 28th. Bank of America lifted their price target on MongoDB from $300.00 to $350.00 and gave the stock a buy rating in a report on Friday. Finally, Oppenheimer dropped their price target on MongoDB from $480.00 to $300.00 and set an outperform rating on the stock in a report on Friday, May 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat.com, MongoDB has a consensus rating of Moderate Buy and a consensus price target of $341.27.

MongoDB Trading Up 18.3 %

NASDAQ MDB opened at $290.79 on Friday. The business has a 50 day simple moving average of $249.36 and a 200 day simple moving average of $312.37. MongoDB has a one year low of $212.74 and a one year high of $509.62. The stock has a market capitalization of $21.33 billion, a P/E 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 announced its quarterly earnings data on Thursday, August 29th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.21. MongoDB had a negative return on equity of 15.95% and a negative net margin of 12.08%. The firm had revenue of $478.11 million during the quarter, compared to analysts’ expectations of $465.03 million. During the same quarter last year, the firm posted ($0.63) earnings per share. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. Research analysts expect 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 company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $231.00, for a total transaction of $462,000.00. Following the transaction, the director now owns 1,140,006 shares in the company, valued at approximately $263,341,386. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CRO Cedric Pech sold 273 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $265.29, for a total value of $72,424.17. Following the sale, the executive now owns 35,719 shares in the company, valued at approximately $9,475,893.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dwight A. Merriman sold 2,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now owns 1,140,006 shares in the company, valued at approximately $263,341,386. The disclosure for this sale can be found here. Insiders sold 28,179 shares of company stock valued at $6,900,509 in the last 90 days. Insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in MongoDB by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 6,910,761 shares of the company’s stock valued at $2,478,475,000 after purchasing an additional 68,348 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of MongoDB by 14.3% during the 1st 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 during the period. Norges Bank bought a new position in shares of MongoDB during the 4th quarter valued at $326,237,000. Swedbank AB raised its holdings in MongoDB by 156.3% in the 2nd quarter. Swedbank AB now owns 656,993 shares of the company’s stock worth $164,222,000 after purchasing an additional 400,705 shares during the period. Finally, Champlain Investment Partners LLC raised its holdings in MongoDB by 22.4% in the 1st quarter. Champlain Investment Partners LLC now owns 550,684 shares of the company’s stock worth $197,497,000 after purchasing an additional 100,725 shares during the period. 89.29% of the stock is currently owned by hedge funds and other 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.