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

MongoDB (NASDAQ:MDB) had its target price lifted by investment analysts at Tigress Financial from $400.00 to $430.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Tigress Financial’s price objective suggests a potential upside of 63.90% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Robert W. Baird upped their target price on shares of MongoDB from $380.00 to $390.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. DA Davidson upped their target price on shares of MongoDB from $340.00 to $405.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Sanford C. Bernstein upped their target price on shares of MongoDB from $358.00 to $360.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. Rosenblatt Securities assumed coverage on shares of MongoDB in a research report on Tuesday. They set a “buy” rating and a $350.00 target price for the company. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $425.00 price target on shares of MongoDB in a research note on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $366.14.

MongoDB Stock Performance

Shares of MDB traded down $2.74 during mid-day trading on Wednesday, reaching $262.36. The stock had a trading volume of 791,463 shares, compared to its average volume of 1,538,143. The firm has a market cap of $19.38 billion, a price-to-earnings ratio of -94.97 and a beta of 1.17. MongoDB has a 12 month low of $212.74 and a 12 month high of $509.62. The business has a fifty day moving average of $293.40 and a 200 day moving average of $267.50.

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

Insider Buying and Selling

In other news, CRO Cedric Pech sold 302 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total value of $77,387.50. Following the sale, the executive now directly owns 33,440 shares in the company, valued at approximately $8,569,000. This trade represents a 0.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Thomas Bull sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $355.92, for a total transaction of $355,920.00. Following the completion of the sale, the chief accounting officer now owns 15,068 shares in the company, valued at $5,363,002.56. This represents a 6.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,600 shares of company stock valued at $7,611,849 in the last 90 days. Company insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

A number of institutional investors have recently modified their holdings of the company. Jennison Associates LLC raised its position in shares of MongoDB by 23.6% in the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock valued at $838,632,000 after purchasing an additional 592,038 shares during the last quarter. Thrivent Financial for Lutherans raised its position in shares of MongoDB by 1,098.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock valued at $106,084,000 after purchasing an additional 388,979 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of MongoDB in the 2nd quarter valued at approximately $52,131,000. Avala Global LP purchased a new position in MongoDB during the 3rd quarter worth approximately $47,960,000. Finally, Renaissance Technologies LLC raised its position in MongoDB by 828.9% during the 2nd quarter. Renaissance Technologies LLC now owns 183,000 shares of the company’s stock worth $45,743,000 after buying an additional 163,300 shares during the last quarter. 89.29% of the stock is currently owned by 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.