MongoDB, Inc. (NASDAQ:MDB) Receives $294.78 Consensus Price Target from Analysts

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the thirty-three ratings firms that are presently covering the firm, Marketbeat reports. Eight research analysts have rated the stock with a hold recommendation, twenty-four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $294.78.

MDB has been the topic of several research reports. Scotiabank reaffirmed a "sector perform" rating and issued a $160.00 price target (down previously from $240.00) on shares of MongoDB in a report on Friday, April 25th. Redburn Atlantic upgraded MongoDB from a "sell" rating to a "neutral" rating and set a $170.00 price target for the company in a research note on Thursday, April 17th. Bank of America lowered their target price on MongoDB from $420.00 to $286.00 and set a "buy" rating on the stock in a report on Thursday, March 6th. Wedbush cut their price objective on MongoDB from $360.00 to $300.00 and set an "outperform" rating for the company in a report on Thursday, March 6th. Finally, Daiwa Capital Markets initiated coverage on MongoDB in a research note on Tuesday, April 1st. They set an "outperform" rating and a $202.00 price objective for the company.

MongoDB Stock Performance

NASDAQ:MDB traded down $0.55 during mid-day trading on Wednesday, reaching $171.64. The stock had a trading volume of 1,905,966 shares, compared to its average volume of 1,850,636. MongoDB has a twelve month low of $140.78 and a twelve month high of $379.06. The firm has a market capitalization of $13.94 billion, a price-to-earnings ratio of -62.64 and a beta of 1.49. The business has a 50 day simple moving average of $186.51 and a 200 day simple moving average of $245.99.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.64 by ($0.45). The firm had revenue of $548.40 million for the quarter, compared to analysts' expectations of $519.65 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. During the same period last year, the firm posted $0.86 EPS. As a group, sell-side analysts expect that MongoDB will post -1.78 earnings per share for the current year.

Insider Activity

In related news, Director Dwight A. Merriman sold 885 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $292.05, for a total transaction of $258,464.25. Following the transaction, the director now directly owns 83,845 shares in the company, valued at approximately $24,486,932.25. This represents a 1.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Srdjan Tanjga sold 525 shares of the company's 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 transaction, the chief financial officer now directly owns 6,406 shares in the company, valued at approximately $1,109,903.56. The trade was a 7.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,345 shares of company stock worth $8,485,310 in the last quarter. 3.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank bought a new position in MongoDB during the 4th quarter valued at $189,584,000. Marshall Wace LLP acquired a new position in MongoDB during the 4th quarter valued at about $110,356,000. Raymond James Financial Inc. acquired a new position in shares of MongoDB during the 4th quarter worth about $90,478,000. D1 Capital Partners L.P. acquired a new stake in shares of MongoDB during the fourth quarter worth about $76,129,000. Finally, Amundi increased its holdings in MongoDB by 86.2% during the 4th quarter. Amundi now owns 693,740 shares of the company's stock worth $172,519,000 after purchasing an additional 321,186 shares in the last quarter. Institutional investors and hedge funds 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.