MongoDB (NASDAQ:MDB) Price Target Raised to $275.00 at Bank of America

MongoDB (NASDAQ:MDB - Free Report) had its target price upped by Bank of America from $215.00 to $275.00 in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts have also recently issued research reports about the company. Citigroup dropped their target price on MongoDB from $430.00 to $330.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. The Goldman Sachs Group lowered their price target on MongoDB from $390.00 to $335.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. Mizuho lowered their target price on MongoDB from $250.00 to $190.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Stifel Nicolaus lowered their target price on MongoDB from $340.00 to $275.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $345.00 price target on shares of MongoDB in a report on Thursday. Eight analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $282.00.

MongoDB Price Performance

Shares of MDB traded down $1.73 during mid-day trading on Thursday, reaching $223.65. 490,561 shares of the company's stock traded hands, compared to its average volume of 1,940,291. The stock has a market cap of $18.16 billion, a P/E ratio of -82.20 and a beta of 1.40. The stock's 50-day moving average is $175.65 and its two-hundred day moving average is $230.40. MongoDB has a 12 month low of $140.78 and a 12 month high of $370.00.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly earnings data on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.35. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company had revenue of $549.01 million for the quarter, compared to analysts' expectations of $527.49 million. During the same quarter in the prior year, the firm earned $0.51 earnings per share. MongoDB's revenue was up 21.8% compared to the same quarter last year. Research analysts predict that MongoDB will post -1.78 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Srdjan Tanjga sold 525 shares of MongoDB stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total value of $90,961.50. Following the completion of the sale, the chief financial officer now directly owns 6,406 shares of the company's stock, valued at approximately $1,109,903.56. The trade was a 7.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Hope F. Cochran sold 1,175 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $174.69, for a total transaction of $205,260.75. Following the completion of the transaction, the director now directly owns 19,333 shares of the company's stock, valued at approximately $3,377,281.77. The trade was a 5.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,203 shares of company stock valued at $3,848,569 over the last quarter. 3.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MDB. Acadian Asset Management LLC grew its stake in MongoDB by 181.8% during the 1st quarter. Acadian Asset Management LLC now owns 562,190 shares of the company's stock worth $98,586,000 after purchasing an additional 362,705 shares in the last quarter. IFM Investors Pty Ltd grew its stake in MongoDB by 4.3% during the 1st quarter. IFM Investors Pty Ltd now owns 13,796 shares of the company's stock worth $2,420,000 after purchasing an additional 569 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in MongoDB by 11.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,271,444 shares of the company's stock worth $223,011,000 after purchasing an additional 129,451 shares in the last quarter. Woodline Partners LP grew its stake in MongoDB by 30,297.0% during the 1st quarter. Woodline Partners LP now owns 322,208 shares of the company's stock worth $56,515,000 after purchasing an additional 321,148 shares in the last quarter. Finally, Meiji Yasuda Life Insurance Co grew its stake in MongoDB by 36.1% during the 1st quarter. Meiji Yasuda Life Insurance Co now owns 3,997 shares of the company's stock worth $701,000 after purchasing an additional 1,060 shares in the last quarter. Hedge funds and other institutional investors 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.