MongoDB (NASDAQ:MDB) Price Target Raised to $330.00 at DA Davidson

MongoDB (NASDAQ:MDB) had its price target increased by DA Davidson from $265.00 to $330.00 in a research note released on Friday morning, Benzinga reports. DA Davidson currently has a buy rating on the stock.

MDB has been the topic of a number of other research reports. Needham & Company LLC boosted their price objective on MongoDB from $290.00 to $335.00 and gave the stock a buy rating in a research report on Friday. Loop Capital reduced their price objective on MongoDB from $415.00 to $315.00 and set a buy rating on the stock in a research report on Friday, May 31st. Royal Bank of Canada restated an outperform rating and set a $350.00 price objective on shares of MongoDB in a research report on Friday. Robert W. Baird reduced their price target on MongoDB from $450.00 to $305.00 and set an outperform rating on the stock in a research report on Friday, May 31st. Finally, Wells Fargo & Company upped their price target on MongoDB from $300.00 to $350.00 and gave the company an overweight rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $345.52.

MongoDB Trading Up 18.3 %

Shares of MDB opened at $290.79 on Friday. The firm has a market cap of $21.33 billion, a price-to-earnings ratio of -103.48 and a beta of 1.13. MongoDB has a 52-week low of $212.74 and a 52-week high of $509.62. The company has a debt-to-equity ratio of 0.90, a quick ratio of 4.93 and a current ratio of 4.93. The business’s fifty day moving average is $248.22 and its 200-day moving average is $315.96.

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

Insider Buying and Selling

In related news, Director Dwight A. Merriman sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $231.00, for a total transaction of $462,000.00. Following the transaction, the director now directly owns 1,140,006 shares of the company’s stock, valued at approximately $263,341,386. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director John Dennis Mcmahon sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $228.00, for a total transaction of $2,280,000.00. Following the transaction, the director now directly owns 20,020 shares of the company’s stock, valued at approximately $4,564,560. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Dwight A. Merriman sold 2,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $231.00, for a total value of $462,000.00. Following the completion of the sale, the director now directly owns 1,140,006 shares of the company’s stock, valued at $263,341,386. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,179 shares of company stock valued at $7,368,989. 3.60% of the stock is owned by company insiders.

Institutional Trading of MongoDB

Institutional investors and hedge funds have recently modified their holdings of the stock. Transcendent Capital Group LLC purchased a new stake in shares of MongoDB in the fourth quarter worth approximately $25,000. MFA Wealth Advisors LLC purchased a new stake in shares of MongoDB in the second quarter worth approximately $25,000. J.Safra Asset Management Corp grew its holdings in shares of MongoDB by 682.4% in the second quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock valued at $33,000 after acquiring an additional 116 shares in the last quarter. Quarry LP grew its holdings in shares of MongoDB by 2,580.0% in the second quarter. Quarry LP now owns 134 shares of the company’s stock valued at $33,000 after acquiring an additional 129 shares in the last quarter. Finally, Hantz Financial Services Inc. bought a new position in shares of MongoDB in the second quarter valued at approximately $35,000. 89.29% of the stock is owned by hedge funds and other institutional investors.

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.