Analysts Set MongoDB, Inc. (NASDAQ:MDB) Target Price at $312.84

Shares of MongoDB, Inc. (NASDAQ:MDB) have been assigned an average rating of “Moderate Buy” from the thirty-two analysts that are currently covering the stock, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $312.84.

A number of equities analysts have weighed in on MDB shares. Wells Fargo & Company cut shares of MongoDB from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $365.00 to $225.00 in a research report on Thursday, March 6th. Piper Sandler reduced their price target on MongoDB from $425.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Loop Capital dropped their price objective on MongoDB from $400.00 to $350.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Monness Crespi & Hardt upgraded MongoDB from a “sell” rating to a “neutral” rating in a research note on Monday, March 3rd. Finally, DA Davidson raised their price target on shares of MongoDB from $340.00 to $405.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th.

MongoDB Stock Performance

MongoDB stock opened at $147.38 on Friday. The firm has a market capitalization of $11.97 billion, a PE ratio of -53.79 and a beta of 1.49. MongoDB has a one year low of $140.78 and a one year high of $387.19. The stock’s 50 day moving average price is $234.34 and its 200 day moving average price is $260.82.

MongoDB (NASDAQ:MDB) last posted its earnings results on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). The firm had revenue of $548.40 million for the quarter, compared to analyst estimates of $519.65 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. During the same period in the previous year, the firm posted $0.86 earnings per share. On average, analysts forecast that MongoDB will post -1.78 earnings per share for the current fiscal year.

Insider Activity at MongoDB

In other news, CEO Dev Ittycheria sold 8,335 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $254.86, for a total value of $2,124,258.10. Following the completion of the transaction, the chief executive officer now owns 217,294 shares of the company’s stock, valued at approximately $55,379,548.84. This represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Thomas Bull sold 301 shares of MongoDB stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $173.25, for a total transaction of $52,148.25. Following the sale, the chief accounting officer now owns 14,598 shares in the company, valued at approximately $2,529,103.50. This represents a 2.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 58,060 shares of company stock worth $13,461,875 in the last ninety days. 3.60% of the stock is owned by insiders.

Hedge Funds Weigh In On MongoDB

Institutional investors and hedge funds have recently bought and sold shares of the stock. Strategic Investment Solutions Inc. IL acquired a new stake in shares of MongoDB in the 4th quarter worth approximately $29,000. Hilltop National Bank increased its stake in shares of MongoDB by 47.2% during the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock valued at $30,000 after acquiring an additional 42 shares during the period. NCP Inc. bought a new stake in MongoDB during the fourth quarter worth approximately $35,000. Continuum Advisory LLC lifted its position in MongoDB by 621.1% in the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock worth $40,000 after purchasing an additional 118 shares during the period. Finally, Versant Capital Management Inc lifted its position in MongoDB by 1,100.0% in the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock worth $42,000 after purchasing an additional 165 shares during the period. Institutional investors 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.