MongoDB (NASDAQ:MDB) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

MongoDB (NASDAQ:MDB) had its target price boosted by analysts at Needham & Company LLC from $335.00 to $415.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price objective suggests a potential upside of 18.53% from the stock’s current price.

MDB has been the topic of several other research reports. Wells Fargo & Company upped their price objective on MongoDB from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. UBS Group upped their price target on MongoDB from $250.00 to $275.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Morgan Stanley lifted their price objective on shares of MongoDB from $340.00 to $350.00 and gave the company an “overweight” rating in a research report on Tuesday. Oppenheimer upped their price objective on shares of MongoDB from $300.00 to $350.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. Finally, Bank of America lifted their target price on shares of MongoDB from $300.00 to $350.00 and gave the company a “buy” rating in a report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, MongoDB has an average rating of “Moderate Buy” and a consensus target price of $351.75.

MongoDB Stock Up 2.0 %

MongoDB stock opened at $350.13 on Tuesday. The company has a market capitalization of $25.86 billion, a P/E ratio of -115.94 and a beta of 1.17. MongoDB has a fifty-two week low of $212.74 and a fifty-two week high of $509.62. The stock has a 50-day simple moving average of $290.90 and a 200-day simple moving average of $269.20. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.03 and a current ratio of 5.03.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.68 by $0.48. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The firm had revenue of $529.40 million during the quarter, compared to the consensus estimate of $497.39 million. MongoDB’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.96 EPS. Equities research analysts expect that MongoDB will post -2.37 earnings per share for the current year.

Insider Activity at MongoDB

In other MongoDB news, CFO Michael Lawrence Gordon sold 5,000 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $290.31, for a total value of $1,451,550.00. Following the completion of the transaction, the chief financial officer now directly owns 80,307 shares in the company, valued at approximately $23,313,925.17. The trade was a 5.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Dwight A. Merriman sold 3,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $323.00, for a total value of $969,000.00. Following the sale, the director now owns 1,121,006 shares in the company, valued at $362,084,938. This trade represents a 0.27 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,600 shares of company stock valued at $7,255,929. 3.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MongoDB

Several large investors have recently added to or reduced their stakes in MDB. Tidal Investments LLC grew its holdings in MongoDB by 76.8% in the 3rd quarter. Tidal Investments LLC now owns 7,859 shares of the company’s stock valued at $2,125,000 after buying an additional 3,415 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of MongoDB in the third quarter worth approximately $44,000. Virtu Financial LLC grew its holdings in MongoDB by 351.2% in the third quarter. Virtu Financial LLC now owns 10,016 shares of the company’s stock valued at $2,708,000 after purchasing an additional 7,796 shares during the period. Teachers Retirement System of The State of Kentucky acquired a new position in MongoDB during the third quarter worth approximately $5,840,000. Finally, Toronto Dominion Bank boosted its holdings in shares of MongoDB by 21.9% in the 3rd quarter. Toronto Dominion Bank now owns 9,462 shares of the company’s stock valued at $2,558,000 after purchasing an additional 1,699 shares during the last quarter. 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.