MongoDB (NASDAQ:MDB) Given New $430.00 Price Target at Citigroup

MongoDB (NASDAQ:MDB) had its target price upped by Citigroup from $400.00 to $430.00 in a report released on Monday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

Other equities analysts have also recently issued reports about the stock. The Goldman Sachs Group boosted their target price on shares of MongoDB from $340.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Wedbush upgraded shares of MongoDB to a “strong-buy” rating in a research report on Thursday, October 17th. DA Davidson raised their target price on MongoDB from $340.00 to $405.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Bank of America lifted their price target on MongoDB from $300.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, Scotiabank increased their price target on MongoDB from $295.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, MongoDB presently has an average rating of “Moderate Buy” and an average price target of $365.63.

MongoDB Stock Performance

Shares of MDB opened at $265.63 on Monday. The stock has a 50-day moving average of $293.17 and a two-hundred day moving average of $267.61. The stock has a market cap of $19.62 billion, a P/E ratio of -97.69 and a beta of 1.17. MongoDB has a one year low of $212.74 and a one year high of $509.62.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Monday, December 9th. The company reported $1.16 earnings per share 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 12.22% and a negative net margin of 10.46%. The company’s revenue was up 22.3% on a year-over-year basis. During the same quarter last year, the business posted $0.96 EPS. Analysts predict that MongoDB will post -2.29 EPS for the current fiscal year.

Insider Buying and Selling at MongoDB

In other news, CAO Thomas Bull sold 1,000 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $355.92, for a total transaction of $355,920.00. Following the completion of the transaction, the chief accounting officer now directly owns 15,068 shares in the company, valued at $5,363,002.56. This trade represents a 6.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Dwight A. Merriman sold 2,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $349.17, for a total value of $698,340.00. Following the completion of the sale, the director now owns 1,124,006 shares in the company, valued at $392,469,175.02. This represents a 0.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,600 shares of company stock valued at $7,611,849 over the last 90 days. 3.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Jennison Associates LLC boosted its holdings in MongoDB by 23.6% in the third 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 period. Geode Capital Management LLC boosted its stake in shares of MongoDB by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock valued at $331,776,000 after buying an additional 34,814 shares during the period. Westfield Capital Management Co. LP grew its position in shares of MongoDB by 1.5% during the third quarter. Westfield Capital Management Co. LP now owns 496,248 shares of the company’s stock worth $134,161,000 after buying an additional 7,526 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in shares of MongoDB by 1,098.1% during the second quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock worth $106,084,000 after buying an additional 388,979 shares during the period. Finally, Holocene Advisors LP raised its holdings in MongoDB by 22.6% in the third quarter. Holocene Advisors LP now owns 362,603 shares of the company’s stock valued at $98,030,000 after acquiring an additional 66,730 shares in the last quarter. Hedge funds and other institutional investors 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.