MongoDB (NASDAQ:MDB) Price Target Raised to $430.00 at Citigroup

MongoDB (NASDAQ:MDB) had its target price hoisted by stock analysts at Citigroup from $400.00 to $430.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective suggests a potential upside of 57.84% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Royal Bank of Canada upped their price objective on shares of MongoDB from $350.00 to $400.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. JMP Securities reiterated a “market outperform” rating and issued a $380.00 price objective on shares of MongoDB in a research note on Wednesday, December 11th. Canaccord Genuity Group raised their price target on shares of MongoDB from $325.00 to $385.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Oppenheimer boosted their price objective on MongoDB from $350.00 to $400.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Finally, The Goldman Sachs Group upped their price objective on MongoDB from $340.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $365.63.

MongoDB Stock Up 2.0 %

Shares of MongoDB stock traded up $5.24 during trading on Monday, hitting $272.43. The stock had a trading volume of 1,187,833 shares, compared to its average volume of 1,532,455. The company has a market capitalization of $20.12 billion, a PE ratio of -99.62 and a beta of 1.17. MongoDB has a 1 year low of $212.74 and a 1 year high of $509.62. The stock has a 50 day simple moving average of $293.17 and a 200 day simple moving average of $267.61.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Monday, December 9th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.48. The firm had revenue of $529.40 million for the quarter, compared to the consensus estimate of $497.39 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The firm’s revenue was up 22.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.96 earnings per share. As a group, equities analysts expect that MongoDB will post -2.29 earnings per share for the current fiscal year.

Insider Activity at MongoDB

In other news, CAO Thomas Bull sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $355.92, for a total value of $355,920.00. Following the completion of the sale, the chief accounting officer now directly owns 15,068 shares in the company, valued at approximately $5,363,002.56. The trade was a 6.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $768,750.00. Following the completion of the sale, the director now owns 1,131,006 shares of the company’s stock, valued at approximately $289,820,287.50. This trade represents a 0.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,600 shares of company stock valued at $7,611,849 in the last three months. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. MFA Wealth Advisors LLC bought a new stake in shares of MongoDB during the second quarter valued at approximately $25,000. Quarry LP grew 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 worth $33,000 after acquiring an additional 129 shares during the period. Hantz Financial Services Inc. bought a new stake in shares of MongoDB in the second quarter worth $35,000. Brooklyn Investment Group purchased a new position in MongoDB during the third quarter valued at $36,000. Finally, GAMMA Investing LLC boosted its position in shares of MongoDB by 178.8% in the third quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock worth $39,000 after purchasing an additional 93 shares during the period. 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.