Analysts Set MongoDB, Inc. (NASDAQ:MDB) Price Target at $354.18

MongoDB, Inc. (NASDAQ:MDB) has been assigned an average recommendation of “Moderate Buy” from the thirty-eight analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $355.2424.

MDB has been the subject of a number of analyst reports. Truist Financial reduced their price objective on shares of MongoDB from $500.00 to $375.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. The Goldman Sachs Group dropped their target price on shares of MongoDB from $475.00 to $320.00 and set a “buy” rating on the stock in a research report on Wednesday, March 4th. Wells Fargo & Company reduced their price target on shares of MongoDB from $450.00 to $375.00 and set an “overweight” rating for the company in a research report on Tuesday, March 3rd. Cantor Fitzgerald decreased their price objective on shares of MongoDB from $454.00 to $378.00 and set an “overweight” rating for the company in a research note on Tuesday, March 3rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of MongoDB in a research report on Monday, December 29th.

MongoDB Stock Up 4.6%

Shares of NASDAQ MDB opened at $273.25 on Friday. The stock’s fifty day simple moving average is $335.58 and its 200 day simple moving average is $352.07. The stock has a market capitalization of $21.96 billion, a price-to-earnings ratio of -310.51 and a beta of 1.40. MongoDB has a 52-week low of $140.78 and a 52-week high of $444.72.

MongoDB (NASDAQ:MDB) last announced its earnings results on Monday, March 2nd. The company reported $1.65 EPS for the quarter, beating the consensus estimate of $1.47 by $0.18. MongoDB had a negative return on equity of 1.03% and a negative net margin of 2.89%.The business had revenue of $695.07 million during the quarter, compared to the consensus estimate of $669.40 million. During the same period in the prior year, the business posted $1.28 earnings per share. MongoDB’s revenue was up 26.8% compared to the same quarter last year. As a group, analysts anticipate that MongoDB will post -1.78 earnings per share for the current year.

Insider Buying and Selling at MongoDB

In other news, Director Dwight A. Merriman sold 10,000 shares of MongoDB stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $407.70, for a total transaction of $4,077,000.00. Following the transaction, the director owned 1,031,316 shares in the company, valued at approximately $420,467,533.20. The trade was a 0.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 19,383 shares of company stock worth $7,910,983 in the last quarter. Insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On MongoDB

A number of large investors have recently made changes to their positions in the business. Cornerstone Planning Group LLC lifted its position in shares of MongoDB by 1,220.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 66 shares of the company’s stock worth $27,000 after purchasing an additional 61 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in MongoDB during the fourth quarter valued at approximately $28,000. Huntington National Bank increased its stake in MongoDB by 110.9% in the 3rd quarter. Huntington National Bank now owns 97 shares of the company’s stock valued at $30,000 after buying an additional 51 shares during the period. International Assets Investment Management LLC acquired a new position in MongoDB in the 4th quarter valued at approximately $33,000. Finally, Promus Capital LLC purchased a new stake in MongoDB in the 2nd quarter worth approximately $36,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

MongoDB Company Profile

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.