MongoDB (NASDAQ:MDB) Price Target Raised to $390.00 at Robert W. Baird

MongoDB (NASDAQ:MDB) had its target price lifted by Robert W. Baird from $380.00 to $390.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Other analysts have also recently issued reports about the company. Bank of America boosted their price target on MongoDB from $300.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Wedbush raised shares of MongoDB to a “strong-buy” rating in a report on Thursday, October 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $350.00 target price on shares of MongoDB in a research report on Friday, August 30th. KeyCorp upped their price objective on shares of MongoDB from $330.00 to $375.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, Morgan Stanley raised their target price on shares of MongoDB from $340.00 to $350.00 and gave the stock an “overweight” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, six have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $370.08.

MongoDB Stock Performance

NASDAQ:MDB opened at $288.61 on Tuesday. The company has a fifty day moving average of $293.13 and a two-hundred day moving average of $269.12. MongoDB has a fifty-two week low of $212.74 and a fifty-two week high of $509.62. The stock has a market capitalization of $21.32 billion, a PE ratio of -95.57 and a beta of 1.17. 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 earnings per share for the quarter, topping 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. During the same quarter in the prior year, the firm earned $0.96 EPS. The company’s revenue for the quarter was up 22.3% on a year-over-year basis. As a group, research analysts forecast that MongoDB will post -2.37 earnings per share for the current fiscal year.

Insider Buying and Selling at MongoDB

In other MongoDB news, CAO Thomas Bull sold 1,000 shares of the business’s stock in a transaction 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 transaction, the chief accounting officer now owns 15,068 shares in the company, valued at $5,363,002.56. The trade was a 6.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Dwight A. Merriman sold 3,000 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 $768,750.00. Following the sale, the director now directly owns 1,131,006 shares in the company, valued at $289,820,287.50. This represents a 0.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,600 shares of company stock valued at $7,611,849 over the last quarter. 3.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Jennison Associates LLC grew its holdings in MongoDB by 23.6% during the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock worth $838,632,000 after acquiring an additional 592,038 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of MongoDB by 2.9% during the third quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock worth $331,776,000 after purchasing an additional 34,814 shares in the last quarter. Swedbank AB grew its stake in shares of MongoDB by 156.3% during the second 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. Westfield Capital Management Co. LP increased its holdings in MongoDB by 1.5% in the third quarter. Westfield Capital Management Co. LP now owns 496,248 shares of the company’s stock valued at $134,161,000 after buying an additional 7,526 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in MongoDB by 1,098.1% in the second quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock valued at $106,084,000 after buying an additional 388,979 shares in the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

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.