Mongodb (NASDAQ:MDB) had its price target increased by equities research analysts at Citigroup from $175.00 to $275.00 in a research report issued on Thursday, BenzingaRatingsTable reports. The firm presently has a "buy" rating on the stock. Citigroup's price objective would indicate a potential upside of 24.95% from the company's previous close.
MDB has been the topic of a number of other reports. Zacks Investment Research upgraded Mongodb from a "sell" rating to a "hold" rating in a research note on Wednesday, February 12th. Piper Sandler decreased their price objective on shares of Mongodb in a research report on Wednesday, March 18th. Monness Crespi & Hardt dropped their target price on shares of Mongodb from $190.00 to $150.00 and set a "buy" rating for the company in a research report on Wednesday, March 18th. Stifel Nicolaus increased their price target on shares of Mongodb from $160.00 to $225.00 and gave the stock a "buy" rating in a report on Friday, May 22nd. Finally, ValuEngine cut shares of Mongodb from a "buy" rating to a "hold" rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Mongodb has a consensus rating of "Buy" and an average price target of $166.08.
Shares of MDB traded up $8.19 during midday trading on Thursday, hitting $220.08. 23,472 shares of the company traded hands, compared to its average volume of 907,396. Mongodb has a one year low of $93.81 and a one year high of $225.84. The firm has a market cap of $12.46 billion, a P/E ratio of -70.35 and a beta of 0.61. The company has a debt-to-equity ratio of 11.09, a current ratio of 4.59 and a quick ratio of 4.59. The stock has a 50-day moving average of $170.64 and a 200-day moving average of $149.46.
Mongodb (NASDAQ:MDB) last posted its earnings results on Tuesday, March 17th. The company reported ($0.25) earnings per share for the quarter, topping the Zacks' consensus estimate of ($0.28) by $0.03. Mongodb had a negative net margin of 41.62% and a negative return on equity of 66.75%. The business had revenue of $123.50 million for the quarter, compared to analyst estimates of $110.66 million. During the same quarter in the prior year, the firm posted ($0.17) EPS. Mongodb's revenue was up 48.6% on a year-over-year basis. Sell-side analysts forecast that Mongodb will post -3.11 EPS for the current fiscal year.
In other Mongodb news, insider Thomas Bull sold 395 shares of Mongodb stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $120.39, for a total value of $47,554.05. Following the transaction, the insider now directly owns 17,292 shares of the company's stock, valued at approximately $2,081,783.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dev Ittycheria sold 23,000 shares of the business's stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $150.24, for a total value of $3,455,520.00. Following the completion of the sale, the chief executive officer now owns 231,510 shares of the company's stock, valued at approximately $34,782,062.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 106,000 shares of company stock valued at $14,602,332. Company insiders own 40.04% of the company's stock.
Large investors have recently made changes to their positions in the stock. Morgan Stanley grew its holdings in shares of Mongodb by 31.7% during the 1st quarter. Morgan Stanley now owns 5,302,766 shares of the company's stock worth $724,040,000 after acquiring an additional 1,276,429 shares during the period. William Blair Investment Management LLC purchased a new position in shares of Mongodb in the 1st quarter worth $78,005,000. Frontier Capital Management Co. LLC grew its holdings in shares of Mongodb by 3,889.3% in the first quarter. Frontier Capital Management Co. LLC now owns 467,383 shares of the company's stock worth $63,816,000 after acquiring an additional 455,667 shares during the period. Point72 Asset Management L.P. purchased a new stake in Mongodb during the fourth quarter valued at $56,852,000. Finally, Norges Bank bought a new position in Mongodb in the fourth quarter valued at about $47,882,000. Institutional investors own 85.60% of the company's stock.
Mongodb Company Profile
MongoDB, Inc operates as a general purpose database platform worldwide. The company offers MongoDB Enterprise Advanced, a subscription package for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; MongoDB Atlas, a cloud-hosted database-as-a-service solution; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.
Further Reading: How To Calculate Debt-to-Equity Ratio
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
6 Stocks That Will Benefit From a Dovish Federal Reserve
The quaint correction that was labeled the “tech wreck” of 2018 seems like a distant memory to investors. What also seems like a distant memory is any thought of the Federal Reserve raising interest rates.
At the end of 2018, the Federal Reserve had raised its benchmark federal funds rate. With the trade dispute with China dragging on, there was increasing pressure on the Fed to lower interest rates. When interest rates are lower, stocks will generally rise as investors have no other option for growth.
In July 2019, the doves got their wish. But in a move that now seems to be a “what did they know move”, the Fed dropped rates again in October. The market soared to record highs in January and early February. Since mid-February however, the market has fallen dramatically, and the Fed juiced the market one more time by cutting rates down to levels not seen since the financial crisis.
None of us know for sure when the U.S. economy will be opened up. And while stocks are still a good investment, not every stock is a smart investment at this time. But some stocks perform well when interest rates are falling and that’s why we’ve prepared this presentation.
These six stocks stand to benefit from both low-interest rates and the unique economic conditions being brought on by the Covid-19 pandemic.
View the "6 Stocks That Will Benefit From a Dovish Federal Reserve".