MongoDB (NASDAQ:MDB) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

MongoDB (NASDAQ:MDB) had its price target boosted by Canaccord Genuity Group from $325.00 to $385.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 33.40% from the company’s previous close.

MDB has been the subject of a number of other reports. Loop Capital upped their target price on MongoDB from $315.00 to $400.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. JMP Securities restated a “market outperform” rating and issued a $380.00 target price on shares of MongoDB in a research note on Friday, August 30th. Scotiabank upped their target price on MongoDB from $295.00 to $350.00 and gave the company a “sector perform” rating in a research note on Tuesday. Sanford C. Bernstein upped their price target on MongoDB from $358.00 to $360.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Finally, Mizuho upped their price target on MongoDB from $275.00 to $320.00 and gave the company a “neutral” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $370.08.

MongoDB Stock Down 2.9 %

Shares of MDB stock opened at $288.61 on Wednesday. MongoDB has a 12 month low of $212.74 and a 12 month high of $509.62. The firm has a market cap of $21.32 billion, a PE ratio of -95.57 and a beta of 1.17. The stock has a 50 day moving average of $293.13 and a 200-day moving average of $269.12. The company has a quick ratio of 5.03, a current ratio of 5.03 and a debt-to-equity ratio of 0.84.

MongoDB (NASDAQ:MDB) last issued its earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.48. The business had revenue of $529.40 million during the quarter, compared to analyst estimates of $497.39 million. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. MongoDB’s revenue was up 22.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.96 earnings per share. On average, equities analysts predict that MongoDB will post -2.37 EPS for the current year.

Insider Activity at MongoDB

In other MongoDB news, CAO Thomas Bull sold 1,000 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $355.92, for a total value of $355,920.00. Following the transaction, the chief accounting officer now owns 15,068 shares of the company’s stock, valued at approximately $5,363,002.56. This represents a 6.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total value of $768,750.00. Following the completion of the transaction, the director now directly owns 1,131,006 shares in the company, valued at $289,820,287.50. The trade was 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 worth $7,611,849 over the last 90 days. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

Several hedge funds have recently added to or reduced their stakes in MDB. J.Safra Asset Management Corp lifted its stake in MongoDB by 682.4% in the second quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock valued at $33,000 after buying an additional 116 shares during the period. Swedbank AB lifted its stake in MongoDB by 156.3% in 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 acquired a new position in MongoDB in the second quarter valued at about $19,497,000. Blue Trust Inc. raised its position in shares of MongoDB by 26.6% during the second quarter. Blue Trust Inc. now owns 538 shares of the company’s stock worth $134,000 after purchasing an additional 113 shares during the period. Finally, OFI Invest Asset Management raised its position in shares of MongoDB by 420.4% during the second quarter. OFI Invest Asset Management now owns 510 shares of the company’s stock worth $119,000 after purchasing an additional 412 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

MongoDB Company Profile

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.