The Goldman Sachs Group Boosts MongoDB (NASDAQ:MDB) Price Target to $390.00

MongoDB (NASDAQ:MDB) had its target price boosted by The Goldman Sachs Group from $340.00 to $390.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts also recently issued research reports about the company. Mizuho increased their price objective on MongoDB from $275.00 to $320.00 and gave the company a “neutral” rating in a report on Tuesday. Truist Financial lifted their price objective on shares of MongoDB from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Wells Fargo & Company upped their target price on shares of MongoDB from $300.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, August 30th. JMP Securities reiterated a “market outperform” rating and set a $380.00 price target on shares of MongoDB in a report on Friday, August 30th. Finally, Bank of America upped their price objective on MongoDB from $300.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $370.48.

MongoDB Price Performance

NASDAQ MDB opened at $290.90 on Tuesday. The firm’s 50 day moving average is $291.56 and its 200-day moving average is $268.79. The company has a quick ratio of 5.03, a current ratio of 5.03 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $21.49 billion, a PE ratio of -96.32 and a beta of 1.17. MongoDB has a 12-month low of $212.74 and a 12-month high of $509.62.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Monday, December 9th. The company reported $1.16 earnings per share (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 for the quarter, compared to analyst estimates of $497.39 million. During the same period in the previous year, the business earned $0.96 EPS. The company’s revenue was up 22.3% compared to the same quarter last year. Equities research analysts anticipate that MongoDB will post -2.37 earnings per share for the current fiscal year.

Insider Buying and Selling at MongoDB

In other news, CAO Thomas Bull sold 154 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total value of $39,462.50. Following the completion of the transaction, the chief accounting officer now directly owns 16,068 shares in the company, valued at approximately $4,117,425. The trade was a 0.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Dev Ittycheria sold 3,556 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $911,225.00. Following the sale, the chief executive officer now owns 219,875 shares of the company’s stock, valued at $56,342,968.75. The trade was a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,600 shares of company stock valued at $7,255,929 in the last three months. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Cetera Advisors LLC increased its position in MongoDB by 106.9% during the 1st quarter. Cetera Advisors LLC now owns 1,558 shares of the company’s stock worth $559,000 after purchasing an additional 805 shares in the last quarter. Diversified Trust Co increased its holdings in shares of MongoDB by 16.6% during the second quarter. Diversified Trust Co now owns 4,794 shares of the company’s stock worth $1,198,000 after buying an additional 683 shares in the last quarter. Baader Bank Aktiengesellschaft lifted its stake in shares of MongoDB by 66.4% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 3,327 shares of the company’s stock valued at $826,000 after acquiring an additional 1,327 shares during the last quarter. J.Safra Asset Management Corp grew 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 worth $33,000 after acquiring an additional 116 shares during the last quarter. Finally, Swedbank AB increased 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 in the last quarter. Institutional investors and hedge funds 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.