MongoDB (NASDAQ:MDB) Stock Price Expected to Rise, Barclays Analyst Says

MongoDB (NASDAQ:MDB) had its target price lifted by Barclays from $290.00 to $345.00 in a research note published on Friday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

Other research analysts have also issued reports about the company. DA Davidson raised their price target on MongoDB from $330.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Citigroup raised their price target on MongoDB from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Wells Fargo & Company raised their price objective on MongoDB from $300.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Bank of America raised their price objective on MongoDB from $300.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Finally, Needham & Company LLC raised their price objective on MongoDB from $290.00 to $335.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $336.54.

MongoDB Stock Down 4.1 %

Shares of MDB opened at $279.77 on Friday. The firm has a market capitalization of $20.67 billion, a price-to-earnings ratio of -92.64 and a beta of 1.15. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.03 and a current ratio of 5.03. The business’s fifty day moving average price is $278.10 and its two-hundred day moving average price is $274.30. MongoDB has a 52 week low of $212.74 and a 52 week high of $509.62.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings results on Thursday, August 29th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.21. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. The business had revenue of $478.11 million for the quarter, compared to analyst estimates of $465.03 million. During the same period last year, the company earned ($0.63) EPS. The firm’s revenue was up 12.8% on a year-over-year basis. On average, analysts predict that MongoDB will post -2.39 earnings per share for the current year.

Insider Buying and Selling at MongoDB

In other news, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $269.57, for a total value of $808,710.00. Following the completion of the transaction, the director now owns 1,127,006 shares of the company’s stock, valued at $303,807,007.42. This trade represents a 0.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Cedric Pech sold 302 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total transaction of $77,387.50. Following the completion of the sale, the executive now directly owns 33,440 shares in the company, valued at approximately $8,569,000. The trade was a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,281 shares of company stock worth $6,657,121 over the last ninety days. 3.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. MFA Wealth Advisors LLC acquired a new position in shares of MongoDB during the 2nd quarter worth approximately $25,000. J.Safra Asset Management Corp raised its position 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 purchasing an additional 116 shares during the period. Quarry LP raised its position 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 purchasing an additional 129 shares during the period. Brooklyn Investment Group bought a new position in shares of MongoDB in the third quarter valued at about $36,000. Finally, Continuum Advisory LLC raised its position in shares of MongoDB by 621.1% in the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after purchasing an additional 118 shares during the period. 89.29% of the stock is 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.