MongoDB (NASDAQ:MDB) Price Target Raised to $540.00 at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald raised MongoDB’s price target to $540 from $416 and maintained an “overweight” rating, implying approximately 20.9% upside from the previous close.
• Analyst sentiment remains favorable: MongoDB has a consensus “Moderate Buy” rating and an average price target of $457.19, supported by multiple recent target increases.
• MongoDB’s latest quarterly results exceeded expectations, with revenue rising 25.2% year over year to $687.62 million and EPS of $1.32 versus the $1.19 consensus estimate.

MongoDB (NASDAQ:MDB - Get Free Report) had its price target boosted by analysts at Cantor Fitzgerald from $416.00 to $540.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Cantor Fitzgerald's price target indicates a potential upside of 20.91% from the stock's previous close.

Other research analysts have also issued reports about the company. Evercore assumed coverage on MongoDB in a research report on Friday, August 21st. They issued an "outperform" rating and a $525.00 target price on the stock. Robert W. Baird lifted their price target on MongoDB from $335.00 to $400.00 and gave the company a "neutral" rating in a report on Tuesday, August 25th. Weiss Ratings upgraded MongoDB from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, August 13th. Oppenheimer raised their target price on MongoDB from $410.00 to $475.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 12th. Finally, Monness Crespi & Hardt increased their price objective on MongoDB from $370.00 to $415.00 and gave the stock a "buy" rating in a report on Friday, May 29th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, MongoDB currently has an average rating of "Moderate Buy" and a consensus target price of $457.19.

MongoDB Price Performance

MongoDB stock opened at $446.62 on Monday. MongoDB has a 12 month low of $215.68 and a 12 month high of $473.10. The stock has a market cap of $35.92 billion, a P/E ratio of -1,207.08, a P/E/G ratio of 3,172.71 and a beta of 1.55. The company's fifty day simple moving average is $364.96 and its 200-day simple moving average is $321.24.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly earnings data on Thursday, May 28th. The company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.13. MongoDB had a negative return on equity of 1.39% and a negative net margin of 1.12%.The business had revenue of $687.62 million during the quarter, compared to analyst estimates of $664.53 million. During the same period last year, the company earned $1.00 earnings per share. MongoDB's quarterly revenue was up 25.2% compared to the same quarter last year. On average, equities research analysts expect that MongoDB will post 0.01 earnings per share for the current fiscal year.

Insider Activity at MongoDB

In related news, CFO Michael J. Berry sold 5,000 shares of the company's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $356.63, for a total transaction of $1,783,150.00. Following the sale, the chief financial officer owned 1,500 shares in the company, valued at approximately $534,945. This represents a 76.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hope F. Cochran sold 1,566 shares of the stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $344.05, for a total value of $538,782.30. Following the transaction, the director directly owned 25,444 shares of the company's stock, valued at $8,754,008.20. This trade represents a 5.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 124,746 shares of company stock worth $48,960,038. Corporate insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On MongoDB

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC boosted its holdings in shares of MongoDB by 31.6% in the 1st quarter. Integrated Wealth Concepts LLC now owns 1,363 shares of the company's stock valued at $239,000 after buying an additional 327 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of MongoDB by 55.0% in the first quarter. NewEdge Advisors LLC now owns 4,238 shares of the company's stock valued at $743,000 after buying an additional 1,504 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in MongoDB during the second quarter worth $329,000. Cresset Asset Management LLC increased its holdings in MongoDB by 13.4% during the second quarter. Cresset Asset Management LLC now owns 3,138 shares of the company's stock worth $659,000 after buying an additional 370 shares during the last quarter. Finally, Cerity Partners LLC raised its position in MongoDB by 28.3% during the second quarter. Cerity Partners LLC now owns 12,215 shares of the company's stock worth $2,565,000 after acquiring an additional 2,697 shares in the last quarter. Institutional investors own 89.29% of the company's stock.

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.

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