UBS Group Issues Positive Forecast for MongoDB (NASDAQ:MDB) Stock Price

MongoDB (NASDAQ:MDB - Get Free Report) had its price target raised by equities research analysts at UBS Group from $213.00 to $240.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. UBS Group's target price would suggest a potential upside of 6.49% from the stock's current price.

A number of other equities research analysts have also commented on the company. Loop Capital lowered MongoDB from a "buy" rating to a "hold" rating and decreased their price target for the stock from $350.00 to $190.00 in a research report on Tuesday, May 20th. Canaccord Genuity Group decreased their target price on MongoDB from $385.00 to $320.00 and set a "buy" rating on the stock in a report on Thursday, March 6th. Daiwa Capital Markets started coverage on MongoDB in a research note on Tuesday, April 1st. They issued an "outperform" rating and a $202.00 target price for the company. Cantor Fitzgerald upped their price target on shares of MongoDB from $252.00 to $271.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, Needham & Company LLC reissued a "buy" rating and set a $270.00 price objective on shares of MongoDB in a report on Thursday. Eight investment 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 company's stock. Based on data from MarketBeat.com, MongoDB currently has an average rating of "Moderate Buy" and a consensus target price of $282.00.

MongoDB Stock Performance

Shares of NASDAQ:MDB traded up $25.65 on Thursday, hitting $225.38. The stock had a trading volume of 13,169,003 shares, compared to its average volume of 1,945,019. The firm's 50 day moving average price is $175.65 and its 200-day moving average price is $230.40. MongoDB has a twelve month low of $140.78 and a twelve month high of $370.00. 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 (NASDAQ:MDB - Get Free Report) last released its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.35. The firm had revenue of $549.01 million for the quarter, compared to analyst estimates of $527.49 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The company's revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.51 earnings per share. As a group, sell-side analysts predict that MongoDB will post -1.78 EPS for the current year.

Insider Activity at MongoDB

In other news, CEO Dev Ittycheria sold 18,512 shares of MongoDB stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total transaction of $3,207,389.12. Following the transaction, the chief executive officer now owns 268,948 shares in the company, valued at $46,597,930.48. The trade was a 6.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Cedric Pech sold 1,690 shares of the business's 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 $292,809.40. Following the completion of the transaction, the insider now owns 57,634 shares of the company's stock, valued at $9,985,666.84. This represents a 2.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,203 shares of company stock worth $3,848,569 in the last ninety days. Company insiders own 3.10% of the company's stock.

Institutional Trading of MongoDB

Institutional investors have recently modified their holdings of the company. Jericho Capital Asset Management L.P. acquired a new position in MongoDB during the first quarter worth $161,543,000. Norges Bank bought a new stake in MongoDB during the 4th quarter worth about $189,584,000. Primecap Management Co. CA lifted its position in MongoDB by 863.5% during the 1st quarter. Primecap Management Co. CA now owns 870,550 shares of the company's stock worth $152,694,000 after buying an additional 780,200 shares in the last quarter. Westfield Capital Management Co. LP acquired a new position in shares of MongoDB during the 1st quarter worth about $128,706,000. Finally, Vanguard Group Inc. grew its holdings in shares of MongoDB by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 7,809,768 shares of the company's stock valued at $1,369,833,000 after acquiring an additional 481,023 shares in the last quarter. 89.29% of the stock is currently owned by 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.