MongoDB, Inc. (NASDAQ:MDB) Receives $366.14 Average PT from Analysts

MongoDB, Inc. (NASDAQ:MDB) has earned an average rating of “Moderate Buy” from the twenty-nine analysts that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, five have issued a hold recommendation, twenty-one have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $366.14.

MDB has been the topic of several research reports. Loop Capital boosted their price target on shares of MongoDB from $315.00 to $400.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. The Goldman Sachs Group increased 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. Stifel Nicolaus lifted their price target on shares of MongoDB from $325.00 to $360.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Piper Sandler reiterated an “overweight” rating and set a $425.00 price objective on shares of MongoDB in a research report on Tuesday, December 10th. Finally, Rosenblatt Securities initiated coverage on MongoDB in a report on Tuesday, December 17th. They issued a “buy” rating and a $350.00 target price on the stock.

Insider Activity

In other news, Director Hope F. Cochran sold 1,175 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $266.99, for a total transaction of $313,713.25. Following the transaction, the director now owns 17,570 shares of the company’s stock, valued at approximately $4,691,014.30. This represents a 6.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Dwight A. Merriman sold 1,385 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $287.82, for a total value of $398,630.70. Following the completion of the sale, the director now owns 89,063 shares of the company’s stock, valued at approximately $25,634,112.66. This trade represents a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,879 shares of company stock worth $6,985,212 in the last three months. 3.60% of the stock is owned by insiders.

Hedge Funds Weigh In On MongoDB

Institutional investors have recently modified their holdings of the company. Jennison Associates LLC boosted its holdings in shares of MongoDB by 23.6% during the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock worth $838,632,000 after buying an additional 592,038 shares during the period. Thrivent Financial for Lutherans boosted its holdings in MongoDB by 1,098.1% during the second quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock valued at $106,084,000 after acquiring an additional 388,979 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of MongoDB in the second quarter valued at about $52,131,000. Avala Global LP acquired a new stake in shares of MongoDB in the third quarter valued at about $47,960,000. Finally, Renaissance Technologies LLC increased its stake in shares of MongoDB by 828.9% in the second quarter. Renaissance Technologies LLC now owns 183,000 shares of the company’s stock worth $45,743,000 after purchasing an additional 163,300 shares during the period. Institutional investors own 89.29% of the company’s stock.

MongoDB Price Performance

MongoDB stock opened at $232.81 on Thursday. MongoDB has a 12-month low of $212.74 and a 12-month high of $509.62. The stock has a market capitalization of $17.34 billion, a PE ratio of -84.97 and a beta of 1.17. The firm has a 50 day simple moving average of $285.32 and a 200-day simple moving average of $268.25.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.48. The company had revenue of $529.40 million for the quarter, compared to analysts’ expectations of $497.39 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The firm’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same period last year, the firm earned $0.96 EPS. On average, analysts forecast that MongoDB will post -1.86 earnings per share for the current fiscal year.

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.