MongoDB (NASDAQ:MDB) Price Target Raised to $360.00 at BMO Capital Markets

MongoDB (NASDAQ:MDB) had its price objective upped by analysts at BMO Capital Markets from $285.00 to $360.00 in a report released on Friday. The firm presently has an “outperform” rating on the stock. BMO Capital Markets’ target price points to a potential upside of 18.78% from the company’s previous close.

Several other equities analysts have also recently weighed in on MDB. Cantor Fitzgerald lowered their target price on MongoDB from $454.00 to $378.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 3rd. Wells Fargo & Company decreased their price target on shares of MongoDB from $450.00 to $375.00 and set an “overweight” rating for the company in a report on Tuesday, March 3rd. DA Davidson lowered their price objective on shares of MongoDB from $465.00 to $385.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Robert W. Baird reiterated a “neutral” rating and issued a $260.00 price objective (down from $500.00) on shares of MongoDB in a research note on Tuesday, March 3rd. Finally, Piper Sandler cut their target price on shares of MongoDB from $490.00 to $330.00 and set an “overweight” rating for the company in a research report on Tuesday, March 3rd. Twenty-six equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, MongoDB has an average rating of “Moderate Buy” and a consensus target price of $364.23.

MongoDB Stock Up 0.0%

MDB opened at $303.09 on Friday. The firm has a market capitalization of $24.36 billion, a P/E ratio of -344.42 and a beta of 1.48. The stock has a fifty day moving average of $261.14 and a 200-day moving average of $335.93. MongoDB has a 12-month low of $182.43 and a 12-month high of $444.72.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Monday, March 2nd. The company reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.18. The business had revenue of $695.07 million for the quarter, compared to the consensus estimate of $669.40 million. MongoDB had a negative return on equity of 1.03% and a negative net margin of 2.89%.MongoDB’s revenue for the quarter was up 26.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 earnings per share. On average, analysts expect that MongoDB will post -0.46 earnings per share for the current fiscal year.

Insider Activity at MongoDB

In related news, Director Dwight A. Merriman sold 2,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $290.06, for a total value of $580,120.00. Following the transaction, the director owned 1,003,316 shares in the company, valued at approximately $291,021,838.96. This represents a 0.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hope F. Cochran sold 1,566 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $249.33, for a total transaction of $390,450.78. Following the transaction, the director directly owned 24,093 shares in the company, valued at approximately $6,007,107.69. The trade was a 6.10% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 15,566 shares of company stock valued at $3,875,011. 3.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MongoDB

Several institutional investors and hedge funds have recently modified their holdings of MDB. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in MongoDB in the first quarter worth $18,725,000. Renaissance Technologies LLC acquired a new position in MongoDB during the first quarter worth $34,459,000. SC US Ttgp LTD. bought a new position in MongoDB during the first quarter valued at about $662,000. GC Wealth Management RIA LLC lifted its position in shares of MongoDB by 4.6% in the first quarter. GC Wealth Management RIA LLC now owns 1,890 shares of the company’s stock worth $463,000 after buying an additional 83 shares during the last quarter. Finally, Inceptionr LLC acquired a new stake in shares of MongoDB in the first quarter worth about $316,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

About MongoDB

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.