Equities research analysts at Truist Financial started coverage on shares of MongoDB (NASDAQ:MDB – Get Rating) in a report issued on Friday, The Fly reports. The brokerage set a “buy” rating and a $300.00 price target on the stock. Truist Financial’s price target points to a potential upside of 53.99% from the stock’s previous close.
A number of other research analysts also recently issued reports on MDB. Robert W. Baird decreased their target price on shares of MongoDB from $360.00 to $330.00 and set an “outperform” rating for the company in a research report on Thursday, September 1st. Morgan Stanley decreased their price objective on shares of MongoDB from $378.00 to $368.00 and set an “overweight” rating for the company in a research report on Thursday, June 2nd. Barclays decreased their price objective on shares of MongoDB from $438.00 to $360.00 and set an “overweight” rating for the company in a research report on Thursday, September 1st. Needham & Company LLC decreased their price objective on shares of MongoDB from $350.00 to $330.00 and set a “buy” rating for the company in a research report on Thursday, September 1st. Finally, Canaccord Genuity Group upped their price objective on shares of MongoDB from $300.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, September 1st. One investment analyst has rated the stock with a sell rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, MongoDB has an average rating of “Moderate Buy” and an average target price of $382.26.
MongoDB Trading Down 3.2 %
NASDAQ MDB opened at $194.82 on Friday. The company has a market capitalization of $13.39 billion, a PE ratio of -36.35 and a beta of 0.95. The company has a fifty day moving average of $291.43 and a 200 day moving average of $311.53. MongoDB has a 1 year low of $188.17 and a 1 year high of $590.00. The company has a debt-to-equity ratio of 1.70, a current ratio of 4.02 and a quick ratio of 4.02.
MongoDB (NASDAQ:MDB – Get Rating) last posted its earnings results on Wednesday, August 31st. The company reported ($1.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.52) by ($0.17). The business had revenue of $303.66 million for the quarter, compared to analyst estimates of $282.31 million. MongoDB had a negative net margin of 33.43% and a negative return on equity of 52.05%. The company’s revenue for the quarter was up 52.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.15) earnings per share. Research analysts forecast that MongoDB will post -5.36 earnings per share for the current year.
Insider Activity at MongoDB
In related news, CRO Cedric Pech sold 350 shares of the company’s stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $264.46, for a total transaction of $92,561.00. Following the completion of the sale, the executive now owns 45,785 shares of the company’s stock, valued at approximately $12,108,301.10. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other MongoDB news, CFO Michael Lawrence Gordon sold 2,704 shares of the business’s stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $264.47, for a total value of $715,126.88. Following the transaction, the chief financial officer now directly owns 93,132 shares in the company, valued at approximately $24,630,620.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Cedric Pech sold 350 shares of the business’s stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $264.46, for a total transaction of $92,561.00. Following the completion of the transaction, the executive now owns 45,785 shares in the company, valued at $12,108,301.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,160 shares of company stock valued at $15,050,095. Corporate insiders own 5.70% of the company’s stock.
Hedge Funds Weigh In On MongoDB
Several institutional investors and hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its holdings in MongoDB by 0.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 8,258,298 shares of the company’s stock valued at $2,143,029,000 after purchasing an additional 24,197 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of MongoDB by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 5,970,224 shares of the company’s stock worth $2,648,332,000 after acquiring an additional 121,201 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of MongoDB by 10.1% in the 2nd quarter. Franklin Resources Inc. now owns 1,346,625 shares of the company’s stock worth $349,449,000 after acquiring an additional 123,431 shares during the last quarter. State Street Corp lifted its holdings in shares of MongoDB by 0.6% in the 1st quarter. State Street Corp now owns 1,343,657 shares of the company’s stock worth $596,033,000 after acquiring an additional 7,389 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its holdings in shares of MongoDB by 19.3% in the 1st quarter. 1832 Asset Management L.P. now owns 1,028,400 shares of the company’s stock worth $450,095,000 after acquiring an additional 166,400 shares during the last quarter. 89.85% of the stock is currently owned by institutional investors and hedge funds.
About MongoDB
MongoDB, Inc provides general purpose database platform worldwide. The company offers MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.
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