Guggenheim Forecasts Strong Price Appreciation for MongoDB (NASDAQ:MDB) Stock

MongoDB (NASDAQ:MDB - Free Report) had its target price raised by Guggenheim from $235.00 to $260.00 in a research note published on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also recently weighed in on the stock. Daiwa America upgraded shares of MongoDB to a "strong-buy" rating in a research report on Tuesday, April 1st. Bank of America lowered their price target on MongoDB from $420.00 to $286.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. Rosenblatt Securities reissued a "buy" rating and set a $350.00 target price on shares of MongoDB in a research note on Tuesday, March 4th. Robert W. Baird lowered their target price on MongoDB from $390.00 to $300.00 and set an "outperform" rating for the company in a report on Thursday, March 6th. Finally, Stifel Nicolaus dropped their target price on MongoDB from $340.00 to $275.00 and set a "buy" rating for the company in a research report on Friday, April 11th. 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 stock. According to data from MarketBeat, MongoDB currently has an average rating of "Moderate Buy" and a consensus price target of $282.00.

MongoDB Price Performance

Shares of MDB traded up $25.65 during mid-day trading on Thursday, reaching $225.38. The stock had a trading volume of 13,169,003 shares, compared to its average volume of 1,945,019. MongoDB has a 52-week low of $140.78 and a 52-week high of $370.00. The business's fifty day moving average is $175.65 and its 200 day moving average is $230.40. The firm has a market cap of $18.30 billion, a price-to-earnings ratio of -82.26 and a beta of 1.40.

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, beating analysts' consensus estimates of $0.65 by $0.35. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The firm had revenue of $549.01 million during the quarter, compared to analyst estimates of $527.49 million. During the same quarter in the prior year, the firm posted $0.51 earnings per share. MongoDB's quarterly revenue was up 21.8% on a year-over-year basis. As a group, sell-side analysts anticipate that MongoDB will post -1.78 EPS for the current fiscal year.

Insider Activity at MongoDB

In other MongoDB news, CAO Thomas Bull sold 301 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $173.25, for a total transaction of $52,148.25. Following the sale, the chief accounting officer now owns 14,598 shares of the company's stock, valued at approximately $2,529,103.50. This trade represents a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Hope F. Cochran sold 1,175 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $174.69, for a total transaction of $205,260.75. Following the transaction, the director now owns 19,333 shares in the company, valued at approximately $3,377,281.77. This trade represents a 5.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,203 shares of company stock valued at $3,848,569 over the last 90 days. 3.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MongoDB

A number of hedge funds have recently modified their holdings of the business. OneDigital Investment Advisors LLC grew its position in shares of MongoDB by 3.9% during the fourth quarter. OneDigital Investment Advisors LLC now owns 1,044 shares of the company's stock worth $243,000 after acquiring an additional 39 shares during the last quarter. Avestar Capital LLC grew its position in shares of MongoDB by 2.0% during the fourth quarter. Avestar Capital LLC now owns 2,165 shares of the company's stock worth $504,000 after acquiring an additional 42 shares during the last quarter. Aigen Investment Management LP grew its position in shares of MongoDB by 1.4% during the fourth quarter. Aigen Investment Management LP now owns 3,921 shares of the company's stock worth $913,000 after acquiring an additional 55 shares during the last quarter. Handelsbanken Fonder AB grew its position in shares of MongoDB by 0.4% during the first quarter. Handelsbanken Fonder AB now owns 14,816 shares of the company's stock worth $2,599,000 after acquiring an additional 65 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC grew its position in shares of MongoDB by 4.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,647 shares of the company's stock worth $383,000 after acquiring an additional 75 shares during the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

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.