MongoDB, Inc. (NASDAQ:MDB) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• MongoDB, Inc. has received a consensus rating of "Moderate Buy" from analysts, with 27 out of 38 analysts recommending a buy, and an average 1-year price target of $336.83.
• Significant price target increases have been made by several firms, including Guggenheim raising it from $310 to $400 and Needham & Company LLC from $325 to $365.
• Recent insider selling includes CEO Dev Ittycheria and Director Dwight A. Merriman, who sold a combined 58,320 shares, reflecting a decrease in their ownership stakes.

Shares of MongoDB, Inc. (NASDAQ:MDB - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the thirty-eight analysts that are currently covering the company, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $336.8286.

A number of analysts recently issued reports on MDB shares. Guggenheim raised their target price on shares of MongoDB from $310.00 to $400.00 and gave the stock a "buy" rating in a research report on Monday, September 15th. Needham & Company LLC increased their price target on MongoDB from $325.00 to $365.00 and gave the stock a "buy" rating in a research note on Friday, September 19th. Scotiabank raised their price objective on MongoDB from $280.00 to $320.00 and gave the stock a "sector perform" rating in a report on Friday, September 19th. Zacks Research upgraded MongoDB to a "hold" rating in a research note on Friday, August 8th. Finally, Barclays increased their target price on MongoDB from $305.00 to $345.00 and gave the stock an "overweight" rating in a research report on Thursday, September 18th.

Insider Activity at MongoDB

In related news, CEO Dev Ittycheria sold 33,320 shares of the firm's stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $301.29, for a total value of $10,038,982.80. Following the sale, the chief executive officer directly owned 203,237 shares of the company's stock, valued at approximately $61,233,275.73. This trade represents a 14.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dwight A. Merriman sold 25,000 shares of the business's stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $320.15, for a total transaction of $8,003,750.00. Following the completion of the sale, the director owned 1,079,316 shares of the company's stock, valued at approximately $345,543,017.40. The trade was a 2.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 109,910 shares of company stock valued at $32,634,392. Insiders own 3.10% of the company's stock.

Hedge Funds Weigh In On MongoDB

A number of large investors have recently modified their holdings of MDB. Vanguard Group Inc. grew its holdings in shares of MongoDB by 9.5% during the 2nd quarter. Vanguard Group Inc. now owns 8,554,315 shares of the company's stock worth $1,796,321,000 after purchasing an additional 744,547 shares during the period. State Street Corp grew its stake in MongoDB by 5.0% during the second quarter. State Street Corp now owns 1,693,194 shares of the company's stock worth $355,554,000 after buying an additional 80,334 shares during the period. Geode Capital Management LLC grew its stake in MongoDB by 5.2% during the second quarter. Geode Capital Management LLC now owns 1,397,898 shares of the company's stock worth $292,597,000 after buying an additional 68,611 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in MongoDB by 11.3% during the first 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 buying an additional 129,451 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of MongoDB by 2,567.2% in the second quarter. AQR Capital Management LLC now owns 1,111,647 shares of the company's stock worth $233,435,000 after acquiring an additional 1,069,969 shares in the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

MongoDB Price Performance

MongoDB stock opened at $318.41 on Friday. The stock has a market capitalization of $25.91 billion, a P/E ratio of -324.91 and a beta of 1.49. MongoDB has a 12-month low of $140.78 and a 12-month high of $370.00. The firm's 50-day moving average is $268.22 and its two-hundred day moving average is $216.06.

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.

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