DA Davidson Raises MongoDB (NASDAQ:MDB) Price Target to $340.00

MongoDB (NASDAQ:MDB) had its price target boosted by research analysts at DA Davidson from $330.00 to $340.00 in a report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. DA Davidson’s price target points to a potential upside of 15.56% from the company’s previous close.

Several other equities analysts have also recently commented on MDB. Morgan Stanley boosted their price objective on shares of MongoDB from $320.00 to $340.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Bank of America upped their price objective on shares of MongoDB from $300.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Scotiabank upped their price target on shares of MongoDB from $250.00 to $295.00 and gave the company a “sector perform” rating in a report on Friday, August 30th. Needham & Company LLC upped their price target on shares of MongoDB from $290.00 to $335.00 and gave the company a “buy” rating in a report on Friday, August 30th. Finally, Mizuho upped their price objective on shares of MongoDB from $250.00 to $275.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $337.96.

MongoDB Stock Up 0.5 %

Shares of MDB traded up $1.52 during trading hours on Friday, reaching $294.21. 373,832 shares of the stock traded hands, compared to its average volume of 1,450,581. The company has a market cap of $21.73 billion, a price-to-earnings ratio of -97.42 and a beta of 1.15. The company has a current ratio of 5.03, a quick ratio of 5.03 and a debt-to-equity ratio of 0.84. MongoDB has a 52 week low of $212.74 and a 52 week high of $509.62. The stock has a fifty day simple moving average of $263.94 and a 200 day simple moving average of $288.54.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.49 by $0.21. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The business had revenue of $478.11 million for the quarter, compared to analyst estimates of $465.03 million. During the same quarter in the previous year, the firm posted ($0.63) earnings per share. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, equities analysts forecast that MongoDB will post -2.44 EPS for the current year.

Insider Activity

In other news, CRO Cedric Pech sold 302 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total transaction of $77,387.50. Following the sale, the executive now owns 33,440 shares of the company’s stock, valued at $8,569,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other MongoDB news, CAO Thomas Bull sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $282.89, for a total transaction of $282,890.00. Following the sale, the chief accounting officer now owns 16,222 shares in the company, valued at approximately $4,589,041.58. This trade represents a 0.00 % 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, CRO Cedric Pech sold 302 shares of the firm’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 transaction of $77,387.50. Following the sale, the executive now owns 33,440 shares in the company, valued at approximately $8,569,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,896 shares of company stock valued at $4,187,260 in the last 90 days. 3.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MongoDB

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Transcendent Capital Group LLC bought a new stake in shares of MongoDB during the fourth quarter valued at approximately $25,000. MFA Wealth Advisors LLC purchased a new position in shares of MongoDB in the second quarter valued at $25,000. Sunbelt Securities Inc. grew its holdings in shares of MongoDB by 155.1% in the first quarter. Sunbelt Securities Inc. now owns 125 shares of the company’s stock valued at $45,000 after purchasing an additional 76 shares in the last quarter. J.Safra Asset Management Corp grew its holdings in shares of 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 purchasing an additional 116 shares in the last quarter. Finally, Quarry LP grew its holdings in shares of MongoDB by 2,580.0% in the second quarter. Quarry LP now owns 134 shares of the company’s stock valued at $33,000 after purchasing an additional 129 shares in the last quarter. 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.