Morgan Stanley Increases MongoDB (NASDAQ:MDB) Price Target to $350.00

MongoDB (NASDAQ:MDB) had its price target hoisted by Morgan Stanley from $340.00 to $350.00 in a research note issued to investors on Tuesday,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

A number of other brokerages also recently commented on MDB. UBS Group lifted their target price on MongoDB from $250.00 to $275.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Oppenheimer boosted their price objective on MongoDB from $300.00 to $350.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Wedbush raised MongoDB to a “strong-buy” rating in a research report on Thursday, October 17th. JMP Securities reissued a “market outperform” rating and set a $380.00 price target on shares of MongoDB in a report on Friday, August 30th. Finally, Stifel Nicolaus upped 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $370.48.

MongoDB Stock Performance

MDB stock opened at $290.90 on Tuesday. The stock’s 50 day simple moving average is $291.56 and its 200 day simple moving average is $268.79. MongoDB has a 12-month low of $212.74 and a 12-month high of $509.62. The firm has a market cap of $21.49 billion, a P/E ratio of -96.32 and a beta of 1.17. 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 (NASDAQ:MDB) last issued its earnings results on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.48. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The company had revenue of $529.40 million for the quarter, compared to analysts’ expectations of $497.39 million. During the same period in the prior year, the company earned $0.96 earnings per share. The firm’s revenue was up 22.3% compared to the same quarter last year. As a group, equities research analysts predict that MongoDB will post -2.37 EPS for the current year.

Insider Activity at MongoDB

In other news, Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $323.00, for a total transaction of $969,000.00. Following the completion of the sale, the director now owns 1,121,006 shares in the company, valued at approximately $362,084,938. This represents a 0.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Cedric Pech sold 302 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $77,387.50. Following the sale, the executive now directly owns 33,440 shares of the company’s stock, valued at approximately $8,569,000. This represents a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,600 shares of company stock valued at $7,255,929 over the last ninety days. Insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

Institutional investors and hedge funds have recently bought and sold shares of the stock. MFA Wealth Advisors LLC acquired a new position in shares of MongoDB in the second quarter worth about $25,000. J.Safra Asset Management Corp boosted its stake in MongoDB by 682.4% in the 2nd quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock worth $33,000 after purchasing an additional 116 shares during the period. Quarry LP grew its position in MongoDB by 2,580.0% during the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after purchasing an additional 129 shares in the last quarter. Hantz Financial Services Inc. acquired a new stake in MongoDB during the 2nd quarter valued at $35,000. Finally, Brooklyn Investment Group purchased a new stake in shares of MongoDB in the third quarter valued at $36,000. Institutional investors and hedge funds 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.