Brokerages Set MongoDB, Inc. (NASDAQ:MDB) Target Price at $361.97

MongoDB, Inc. (NASDAQ:MDB) has been given an average recommendation of “Moderate Buy” by the thirty-six brokerages that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-six have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $364.2258.

MDB has been the topic of several research analyst reports. Monness Crespi & Hardt cut their price objective on MongoDB from $475.00 to $370.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Stifel Nicolaus dropped their target price on MongoDB from $450.00 to $330.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Scotiabank upgraded shares of MongoDB from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $275.00 to $310.00 in a research note on Thursday, March 5th. Weiss Ratings cut shares of MongoDB from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, April 29th. Finally, Citigroup raised their price objective on shares of MongoDB from $400.00 to $450.00 and gave the company a “buy” rating in a research note on Tuesday.

Insider Buying and Selling

In other news, Director Hope F. Cochran sold 1,566 shares of the company’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $249.33, for a total transaction of $390,450.78. Following the sale, the director owned 24,093 shares of the company’s stock, valued at approximately $6,007,107.69. This represents a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dwight A. Merriman sold 2,000 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $290.06, for a total value of $580,120.00. Following the completion of the sale, the director owned 1,003,316 shares in the company, valued at approximately $291,021,838.96. The trade was a 0.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 15,566 shares of company stock worth $3,875,011. 3.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On MongoDB

Several large investors have recently bought and sold shares of the stock. Cornerstone Planning Group LLC grew its position in shares of MongoDB by 1,220.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 66 shares of the company’s stock worth $27,000 after buying an additional 61 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in MongoDB in the fourth quarter valued at approximately $28,000. Huntington National Bank raised its holdings in MongoDB by 110.9% in the third quarter. Huntington National Bank now owns 97 shares of the company’s stock valued at $30,000 after acquiring an additional 51 shares in the last quarter. International Assets Investment Management LLC purchased a new position in MongoDB in the fourth quarter worth approximately $33,000. Finally, Cassaday & Co Wealth Management LLC purchased a new position in MongoDB in the first quarter worth approximately $34,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

MongoDB Stock Performance

NASDAQ:MDB opened at $312.16 on Friday. MongoDB has a fifty-two week low of $182.43 and a fifty-two week high of $444.72. The company has a 50 day moving average price of $262.43 and a 200 day moving average price of $335.77. The stock has a market capitalization of $25.09 billion, a P/E ratio of -354.73 and a beta of 1.48.

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

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.