MongoDB (NASDAQ:MDB) Price Target Raised to $270.00 at Barclays

MongoDB (NASDAQ:MDB - Get Free Report) had its price target raised by equities researchers at Barclays from $252.00 to $270.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Barclays's price target suggests a potential upside of 19.80% from the company's current price.

A number of other equities analysts have also recently issued reports on MDB. Scotiabank lifted their target price on MongoDB from $160.00 to $230.00 and gave the stock a "sector perform" rating in a report on Thursday. Guggenheim lifted their price target on MongoDB from $235.00 to $260.00 and gave the company a "buy" rating in a report on Thursday. Needham & Company LLC reiterated a "buy" rating and set a $270.00 price target on shares of MongoDB in a report on Thursday. JMP Securities reiterated a "market outperform" rating and set a $345.00 price target on shares of MongoDB in a report on Thursday. Finally, KeyCorp downgraded MongoDB from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. Eight analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $282.00.

MongoDB Price Performance

Shares of MDB traded up $25.65 during midday trading on Thursday, reaching $225.38. The stock had a trading volume of 13,169,003 shares, compared to its average volume of 1,945,020. The company has a market capitalization of $18.30 billion, a P/E ratio of -82.26 and a beta of 1.40. The firm's 50 day moving average price is $175.65 and its 200-day moving average price is $230.40. MongoDB has a 52 week low of $140.78 and a 52 week high of $370.00.

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

Insiders Place Their Bets

In related news, insider Cedric Pech sold 1,690 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total transaction of $292,809.40. Following the completion of the transaction, the insider now owns 57,634 shares of the company's stock, valued at approximately $9,985,666.84. The trade was a 2.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Dev Ittycheria sold 18,512 shares of the business'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 transaction, the chief executive officer now directly owns 268,948 shares of the company's stock, valued at $46,597,930.48. This represents a 6.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,203 shares of company stock valued at $3,848,569 over the last quarter. Insiders own 3.10% of the company's stock.

Hedge Funds Weigh In On MongoDB

Several large investors have recently made changes to their positions in MDB. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of MongoDB by 287.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 55,736 shares of the company's stock worth $13,130,000 after purchasing an additional 41,339 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in MongoDB by 12.2% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 195,443 shares of the company's stock valued at $45,501,000 after acquiring an additional 21,308 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in MongoDB by 20.9% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,382 shares of the company's stock valued at $1,719,000 after acquiring an additional 1,274 shares during the period. Stephens Investment Management Group LLC increased its stake in MongoDB by 34.3% during the fourth quarter. Stephens Investment Management Group LLC now owns 41,183 shares of the company's stock valued at $9,588,000 after acquiring an additional 10,519 shares during the period. Finally, Vaughan Nelson Investment Management L.P. bought a new position in MongoDB during the fourth quarter valued at about $15,522,000. Institutional investors and hedge funds own 89.29% of the company's stock.

About MongoDB

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.