MongoDB (NASDAQ:MDB) Price Target Raised to $350.00 at Bank of America

MongoDB (NASDAQ:MDB) had its price objective upped by research analysts at Bank of America from $300.00 to $350.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s target price would indicate a potential upside of 42.44% from the stock’s previous close.

Several other equities analysts have also commented on the company. Citigroup reduced their price objective on MongoDB from $480.00 to $350.00 and set a “buy” rating on the stock in a research report on Monday, June 3rd. Stifel Nicolaus lowered their price objective on shares of MongoDB from $435.00 to $300.00 and set a “buy” rating for the company in a report on Friday, May 31st. Monness Crespi & Hardt raised shares of MongoDB to a “hold” rating in a report on Tuesday, May 28th. Barclays cut their price target on shares of MongoDB from $458.00 to $290.00 and set an “overweight” rating for the company in a research report on Friday, May 31st. Finally, Mizuho lifted their price objective on MongoDB from $250.00 to $275.00 and gave the stock a “neutral” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, MongoDB has a consensus rating of “Moderate Buy” and a consensus target price of $354.26.

MongoDB Trading Up 4.4 %

Shares of MDB opened at $245.72 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 4.93 and a quick ratio of 4.93. MongoDB has a 1-year low of $212.74 and a 1-year high of $509.62. The company has a market capitalization of $18.02 billion, a P/E ratio of -87.44 and a beta of 1.13. The firm’s 50 day simple moving average is $246.96 and its 200 day simple moving average is $317.33.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Thursday, May 30th. The company reported ($0.80) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.80). MongoDB had a negative net margin of 11.50% and a negative return on equity of 14.88%. The company had revenue of $450.56 million during the quarter, compared to the consensus estimate of $438.44 million. Sell-side analysts forecast that MongoDB will post -2.67 earnings per share for the current fiscal year.

Insider Buying and Selling at MongoDB

In related news, Director Dwight A. Merriman sold 2,000 shares of the stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $234.24, for a total transaction of $468,480.00. Following the completion of the sale, the director now owns 1,146,784 shares in the company, valued at $268,622,684.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Dwight A. Merriman sold 2,000 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $234.24, for a total transaction of $468,480.00. Following the sale, the director now directly owns 1,146,784 shares in the company, valued at approximately $268,622,684.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Cedric Pech sold 273 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $265.29, for a total value of $72,424.17. Following the transaction, the executive now directly owns 35,719 shares in the company, valued at approximately $9,475,893.51. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,179 shares of company stock valued at $7,368,989. Insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

Several institutional investors and hedge funds have recently made changes to their positions in MDB. International Assets Investment Management LLC raised its holdings in shares of MongoDB by 31,796.1% during the fourth quarter. International Assets Investment Management LLC now owns 89,947 shares of the company’s stock worth $36,775,000 after purchasing an additional 89,665 shares during the last quarter. GAMMA Investing LLC acquired a new position in shares of MongoDB during the 4th quarter worth approximately $50,000. Yousif Capital Management LLC raised its position in MongoDB by 3.9% during the fourth quarter. Yousif Capital Management LLC now owns 792 shares of the company’s stock worth $324,000 after acquiring an additional 30 shares during the period. Truist Financial Corp increased its stake in MongoDB by 14.2% during the 4th quarter. Truist Financial Corp now owns 13,879 shares of the company’s stock worth $5,674,000 after buying an additional 1,724 shares in the last quarter. Finally, Van ECK Associates Corp acquired a new position in MongoDB in the 4th quarter valued at $319,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

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.