MongoDB (NASDAQ:MDB) Given New $460.00 Price Target at Monness Crespi & Hardt

MongoDB (NASDAQ:MDB) had its price target increased by equities research analysts at Monness Crespi & Hardt from $415.00 to $460.00 in a report issued on Monday. The firm currently has a “buy” rating on the stock. Monness Crespi & Hardt’s target price indicates a potential upside of 3.00% from the company’s current price.

MDB has been the subject of a number of other reports. Royal Bank Of Canada lifted their price objective on shares of MongoDB from $395.00 to $515.00 and gave the company an “outperform” rating in a research note on Thursday, August 13th. Mizuho increased their target price on MongoDB from $325.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. Barclays raised their price target on MongoDB from $387.00 to $460.00 and gave the stock an “overweight” rating in a report on Wednesday. Scotiabank reiterated an “outperform” rating on shares of MongoDB in a research report on Friday, May 29th. Finally, Morgan Stanley boosted their price objective on MongoDB from $335.00 to $380.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $458.65.

MongoDB Price Performance

Shares of NASDAQ:MDB opened at $446.62 on Monday. The firm has a market capitalization of $35.92 billion, a PE ratio of -1,207.08, a P/E/G ratio of 3,172.71 and a beta of 1.55. The company has a 50-day moving average price of $364.96 and a two-hundred day moving average price of $321.24. MongoDB has a twelve month low of $215.68 and a twelve month high of $473.10.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings results on Thursday, May 28th. The company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.13. The company had revenue of $687.62 million for the quarter, compared to analyst estimates of $664.53 million. MongoDB had a negative net margin of 1.12% and a negative return on equity of 1.39%. The company’s quarterly revenue was up 25.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.00 earnings per share. Analysts anticipate that MongoDB will post 0.01 earnings per share for the current fiscal year.

Insider Buying and Selling at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $470.59, for a total value of $4,705,900.00. Following the sale, the director owned 962,953 shares of the company’s stock, valued at $453,156,052.27. This trade represents a 1.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Roelof Botha sold 44,050 shares of MongoDB stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $398.07, for a total value of $17,534,983.50. Following the sale, the director owned 150,550 shares of the company’s stock, valued at approximately $59,929,438.50. This trade represents a 22.64% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 124,746 shares of company stock valued at $48,960,038 over the last 90 days. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

Institutional investors and hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System lifted its stake in shares of MongoDB by 32,986.4% in the 2nd quarter. California State Teachers Retirement System now owns 39,528,376 shares of the company’s stock valued at $13,277,581,000 after purchasing an additional 39,408,906 shares during the period. ValueAct Holdings L.P. boosted its position in shares of MongoDB by 206.8% during the third quarter. ValueAct Holdings L.P. now owns 2,118,200 shares of the company’s stock valued at $657,447,000 after purchasing an additional 1,427,700 shares in the last quarter. Norges Bank purchased a new stake in MongoDB in the fourth quarter worth $574,821,000. AQR Capital Management LLC grew its stake in MongoDB by 2,567.2% in the second quarter. AQR Capital Management LLC now owns 1,111,647 shares of the company’s stock worth $233,435,000 after purchasing an additional 1,069,969 shares during the period. Finally, Amundi raised its holdings in MongoDB by 61.3% in the third quarter. Amundi now owns 1,483,396 shares of the company’s stock worth $477,550,000 after purchasing an additional 563,995 shares in the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

MongoDB Company Profile

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.