Brokerages Set MongoDB, Inc. (NASDAQ:MDB) Price Target at $366.14

MongoDB, Inc. (NASDAQ:MDB) has received a consensus rating of “Moderate Buy” from the twenty-nine research firms that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, five have given a hold recommendation, twenty-one have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $366.14.

MDB has been the subject of a number of recent analyst reports. Wells Fargo & Company lifted their price target on shares of MongoDB from $350.00 to $425.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Morgan Stanley lifted their target price on shares of MongoDB from $340.00 to $350.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Monness Crespi & Hardt cut MongoDB from a “neutral” rating to a “sell” rating and set a $220.00 price target on the stock. in a research note on Monday, December 16th. Royal Bank of Canada raised their price target on MongoDB from $350.00 to $400.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Finally, Scotiabank boosted their price objective on MongoDB from $295.00 to $350.00 and gave the company a “sector perform” rating in a report on Tuesday, December 10th.

MongoDB Price Performance

Shares of MongoDB stock opened at $238.35 on Thursday. The stock’s 50 day simple moving average is $287.27 and its 200-day simple moving average is $268.07. The stock has a market cap of $17.75 billion, a P/E ratio of -86.99 and a beta of 1.17. MongoDB has a 1-year low of $212.74 and a 1-year high of $509.62.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $529.40 million for the quarter, compared to analysts’ expectations of $497.39 million. During the same quarter in the previous year, the company posted $0.96 EPS. The company’s revenue was up 22.3% compared to the same quarter last year. As a group, research analysts expect that MongoDB will post -1.86 EPS for the current fiscal year.

Insider Activity at MongoDB

In other news, Director Dwight A. Merriman sold 2,000 shares of MongoDB stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $349.17, for a total transaction of $698,340.00. Following the completion of the sale, the director now directly owns 1,124,006 shares in the company, valued at approximately $392,469,175.02. This trade represents a 0.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Thomas Bull sold 154 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $39,462.50. Following the completion of the sale, the chief accounting officer now owns 16,068 shares in the company, valued at approximately $4,117,425. This represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,775 shares of company stock worth $9,264,812 over the last 90 days. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Aigen Investment Management LP acquired a new stake in shares of MongoDB during the 3rd quarter worth about $1,045,000. Geode Capital Management LLC grew its stake in MongoDB by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock worth $331,776,000 after acquiring an additional 34,814 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in MongoDB in the 3rd quarter valued at $4,366,000. Charles Schwab Investment Management Inc. lifted its stake in shares of MongoDB by 2.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 278,419 shares of the company’s stock worth $75,271,000 after purchasing an additional 7,575 shares during the period. Finally, Sanctuary Advisors LLC acquired a new stake in shares of MongoDB during the second quarter worth $1,860,000. 89.29% of the stock is currently 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.