Cantor Fitzgerald Increases MongoDB (NASDAQ:MDB) Price Target to $416.00

Key Points

• Cantor Fitzgerald raised its price target on MongoDB from $378 to $416 and kept an overweight rating, implying about 27.56% upside from the current price.
• Other analysts remain generally positive, with several firms maintaining or adjusting targets; the stock currently has a consensus Moderate Buy rating and an average target price of $374.63.
• MongoDB reported strong quarterly results, beating EPS and revenue estimates, while insider selling and mixed institutional activity were also highlighted in the report.

MongoDB (NASDAQ:MDB - Get Free Report) had its price target increased by equities research analysts at Cantor Fitzgerald from $378.00 to $416.00 in a report released on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Cantor Fitzgerald's price objective suggests a potential upside of 27.56% from the company's current price.

Several other analysts have also issued reports on MDB. Guggenheim reaffirmed a "buy" rating and issued a $475.00 target price on shares of MongoDB in a research note on Tuesday, April 14th. Needham & Company LLC cut their target price on MongoDB from $500.00 to $300.00 and set a "buy" rating for the company in a research note on Tuesday, March 3rd. Zacks Research raised MongoDB from a "strong sell" rating to a "hold" rating in a research note on Friday, May 15th. Monness Crespi & Hardt cut their target price on MongoDB from $475.00 to $370.00 and set a "buy" rating for the company in a research note on Tuesday, March 3rd. Finally, Bank of America upped their target price on MongoDB from $350.00 to $375.00 in a research note on Tuesday, May 19th. Twenty-six equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $374.63.

MongoDB Stock Performance

Shares of NASDAQ MDB opened at $326.13 on Tuesday. The firm has a market capitalization of $26.21 billion, a price-to-earnings ratio of -370.60 and a beta of 1.48. The business has a 50-day moving average of $269.54 and a 200-day moving average of $334.71. MongoDB has a 12 month low of $182.43 and a 12 month high of $444.72.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its earnings results on Monday, March 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.18. The business had revenue of $695.07 million during the quarter, compared to analyst estimates of $669.40 million. MongoDB had a negative return on equity of 1.03% and a negative net margin of 2.89%.MongoDB's revenue for the quarter was up 26.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.28 earnings per share. On average, analysts predict that MongoDB will post -0.46 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Dwight A. Merriman sold 6,000 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $314.98, for a total transaction of $1,889,880.00. Following the completion of the sale, the director owned 470,896 shares of the company's stock, valued at approximately $148,322,822.08. This represents a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed 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, April 1st. The shares were sold at an average price of $249.33, for a total value of $390,450.78. Following the sale, the director directly owned 24,093 shares of the company's stock, valued at approximately $6,007,107.69. This trade represents a 6.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 31,566 shares of company stock valued at $8,744,791. Insiders own 3.10% of the company's stock.

Institutional Trading of MongoDB

A number of institutional investors have recently made changes to their positions in the stock. Clark Financial Services Group Inc. BD boosted its stake in shares of MongoDB by 1.5% during the fourth quarter. Clark Financial Services Group Inc. BD now owns 1,669 shares of the company's stock valued at $702,000 after purchasing an additional 25 shares during the period. Root Financial Partners LLC raised its holdings in shares of MongoDB by 58.2% during the fourth quarter. Root Financial Partners LLC now owns 87 shares of the company's stock valued at $37,000 after acquiring an additional 32 shares in the last quarter. True Wealth Design LLC raised its holdings in shares of MongoDB by 9.4% during the fourth quarter. True Wealth Design LLC now owns 419 shares of the company's stock valued at $176,000 after acquiring an additional 36 shares in the last quarter. HighPoint Advisor Group LLC raised its holdings in shares of MongoDB by 2.5% during the fourth quarter. HighPoint Advisor Group LLC now owns 1,491 shares of the company's stock valued at $626,000 after acquiring an additional 36 shares in the last quarter. Finally, Lido Advisors LLC raised its holdings in shares of MongoDB by 3.4% during the fourth quarter. Lido Advisors LLC now owns 1,092 shares of the company's stock valued at $458,000 after acquiring an additional 36 shares in the last quarter. Hedge funds and other 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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