MongoDB (NASDAQ:MDB) Given New $385.00 Price Target at Canaccord Genuity Group

MongoDB (NASDAQ:MDB) had its target price increased by stock analysts at Canaccord Genuity Group from $325.00 to $385.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 27.00% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. DA Davidson upped their target price on shares of MongoDB from $340.00 to $405.00 and gave the company a “buy” rating in a report on Tuesday. Sanford C. Bernstein upped their target price on shares of MongoDB from $358.00 to $360.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Stifel Nicolaus upped their target price on shares of MongoDB from $325.00 to $360.00 and gave the company a “buy” rating in a report on Monday. Morgan Stanley raised 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. Finally, Mizuho raised their price objective on shares of MongoDB from $275.00 to $320.00 and gave the company a “neutral” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, MongoDB has a consensus rating of “Moderate Buy” and an average price target of $372.88.

MongoDB Stock Up 4.2 %

Shares of MongoDB stock traded up $12.24 during trading hours on Wednesday, reaching $303.14. 2,075,940 shares of the company were exchanged, compared to its average volume of 1,507,459. MongoDB has a 1 year low of $212.74 and a 1 year high of $509.62. The stock’s fifty day moving average is $291.56 and its 200 day moving average is $268.79. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.03 and a current ratio of 5.03. The firm has a market cap of $22.39 billion, a PE ratio of -100.38 and a beta of 1.17.

MongoDB (NASDAQ:MDB) last issued its earnings results 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 during the quarter, compared to the consensus estimate of $497.39 million. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The company’s revenue was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.96 earnings per share. As a group, equities research analysts forecast 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 MongoDB stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $290.31, for a total value of $1,451,550.00. Following the transaction, the chief financial officer now owns 80,307 shares of the company’s stock, valued at approximately $23,313,925.17. The trade was a 5.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Dwight A. Merriman sold 2,000 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $349.17, for a total transaction of $698,340.00. Following the transaction, the director now owns 1,124,006 shares in the company, valued at approximately $392,469,175.02. The trade was a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,600 shares of company stock worth $7,255,929. 3.60% of the stock is owned by insiders.

Institutional Investors Weigh In On MongoDB

Several institutional investors and hedge funds have recently bought and sold shares of the company. J.Safra Asset Management Corp increased its position in MongoDB by 682.4% during the 2nd quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock valued at $33,000 after purchasing an additional 116 shares during the period. Swedbank AB increased its position in shares of MongoDB by 156.3% during the second quarter. Swedbank AB now owns 656,993 shares of the company’s stock valued at $164,222,000 after buying an additional 400,705 shares during the period. LA Financiere DE L Echiquier bought a new position in shares of MongoDB in the second quarter worth approximately $19,497,000. Blue Trust Inc. boosted its stake in MongoDB by 26.6% in the second quarter. Blue Trust Inc. now owns 538 shares of the company’s stock worth $134,000 after buying an additional 113 shares in the last quarter. Finally, OFI Invest Asset Management boosted its stake in shares of MongoDB by 420.4% during the second quarter. OFI Invest Asset Management now owns 510 shares of the company’s stock valued at $119,000 after purchasing an additional 412 shares during the period. 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.