Piper Sandler Boosts MongoDB (NASDAQ:MDB) Price Target to $275.00

MongoDB (NASDAQ:MDB - Free Report) had its price objective upped by Piper Sandler from $200.00 to $275.00 in a report issued on Thursday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

MDB has been the topic of a number of other research reports. Stifel Nicolaus cut their target price on shares of MongoDB from $340.00 to $275.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Cantor Fitzgerald began coverage on shares of MongoDB in a report on Wednesday, March 5th. They issued an "overweight" rating and a $344.00 target price on the stock. Morgan Stanley cut their target price on shares of MongoDB from $315.00 to $235.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Loop Capital cut shares of MongoDB from a "buy" rating to a "hold" rating and cut their target price for the stock from $350.00 to $190.00 in a report on Tuesday, May 20th. Finally, Truist Financial cut their target price on shares of MongoDB from $300.00 to $275.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Eight analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $282.00.

MongoDB Price Performance

NASDAQ: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. The company has a market capitalization of $18.30 billion, a price-to-earnings ratio of -82.26 and a beta of 1.40. MongoDB has a 1-year low of $140.78 and a 1-year high of $370.00. The stock's 50 day simple moving average is $175.65 and its two-hundred day simple moving average is $230.40.

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. 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 for the quarter, compared to analysts' expectations of $527.49 million. During the same quarter last year, the company posted $0.51 earnings per share. MongoDB's revenue was up 21.8% on a year-over-year basis. Sell-side analysts anticipate that MongoDB will post -1.78 EPS for the current fiscal year.

Insider Activity at MongoDB

In other MongoDB news, CFO Srdjan Tanjga sold 525 shares of MongoDB stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total value of $90,961.50. Following the transaction, the chief financial officer now 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Cedric Pech sold 1,690 shares of MongoDB stock in a transaction that occurred on 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 in the company, valued at approximately $9,985,666.84. This trade represents a 2.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,203 shares of company stock worth $3,848,569 over the last quarter. 3.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in MongoDB by 6.6% in the first quarter. Vanguard Group Inc. now owns 7,809,768 shares of the company's stock worth $1,369,833,000 after buying an additional 481,023 shares during the last quarter. Franklin Resources Inc. grew its position in MongoDB by 9.7% during the 4th quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company's stock worth $478,398,000 after purchasing an additional 181,962 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in MongoDB by 11.3% during the 1st 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 purchasing an additional 129,451 shares in the last quarter. Geode Capital Management LLC grew its position in MongoDB by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 1,252,142 shares of the company's stock worth $290,987,000 after purchasing an additional 22,106 shares in the last quarter. Finally, Amundi grew its position in MongoDB by 53.0% during the 1st quarter. Amundi now owns 1,061,457 shares of the company's stock worth $173,378,000 after purchasing an additional 367,717 shares in the last quarter. 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.