MongoDB (NASDAQ:MDB) Price Target Raised to $271.00

MongoDB (NASDAQ:MDB - Free Report) had its price objective boosted by Cantor Fitzgerald from $252.00 to $271.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other research analysts also recently issued reports about the company. Barclays lowered their price objective on MongoDB from $280.00 to $252.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Scotiabank restated a "sector perform" rating and set a $160.00 price objective (down from $240.00) on shares of MongoDB in a research note on Friday, April 25th. Robert W. Baird lowered their price objective on MongoDB from $390.00 to $300.00 and set an "outperform" rating for the company in a research note on Thursday, March 6th. Morgan Stanley lowered their price objective on MongoDB from $315.00 to $235.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Finally, Daiwa America raised MongoDB to a "strong-buy" rating in a research note on Tuesday, April 1st. Eight analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, MongoDB currently has an average rating of "Moderate Buy" and a consensus target price of $282.00.

MongoDB Price Performance

Shares of MDB stock traded up $25.65 on Thursday, hitting $225.38. 13,169,003 shares of the stock traded hands, compared to its average volume of 1,945,019. The company has a market capitalization of $18.30 billion, a PE ratio of -82.26 and a beta of 1.40. MongoDB has a 1-year low of $140.78 and a 1-year high of $370.00. The company's fifty day moving average is $175.65 and its 200 day moving average is $230.40.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.35. The business had revenue of $549.01 million for the quarter, compared to analyst estimates of $527.49 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The business's revenue was up 21.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.51 EPS. As a group, equities research analysts expect that MongoDB will post -1.78 EPS for the current year.

Insiders Place Their Bets

In other MongoDB news, Director Hope F. Cochran sold 1,175 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $174.69, for a total transaction of $205,260.75. Following the completion of the sale, the director now directly owns 19,333 shares in the company, valued at approximately $3,377,281.77. This trade represents a 5.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Dev Ittycheria sold 18,512 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total value of $3,207,389.12. Following the sale, the chief executive officer now owns 268,948 shares of the company's stock, valued at $46,597,930.48. The trade was a 6.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,203 shares of company stock worth $3,848,569. Company insiders own 3.10% of the company's stock.

Institutional Investors Weigh In On MongoDB

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in MongoDB by 6.6% during the 1st quarter. Vanguard Group Inc. now owns 7,809,768 shares of the company's stock worth $1,369,833,000 after acquiring an additional 481,023 shares during the period. Franklin Resources Inc. boosted its position in MongoDB by 9.7% during the 4th quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company's stock worth $478,398,000 after acquiring an additional 181,962 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position 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 acquiring an additional 129,451 shares during the period. Geode Capital Management LLC boosted its position in MongoDB by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 1,252,142 shares of the company's stock worth $290,987,000 after acquiring an additional 22,106 shares during the period. Finally, Amundi boosted its position in MongoDB by 53.0% during the 1st quarter. Amundi now owns 1,061,457 shares of the company's stock worth $173,378,000 after acquiring an additional 367,717 shares during the period. 89.29% of the stock is currently owned by institutional investors and hedge funds.

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.