Loop Capital Boosts MongoDB (NASDAQ:MDB) Price Target to $400.00

MongoDB (NASDAQ:MDB) had its price target upped by equities research analysts at Loop Capital from $315.00 to $400.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Loop Capital’s target price would suggest a potential upside of 23.45% from the stock’s current price.

Several other equities research analysts have also recently issued reports on the stock. Stifel Nicolaus lifted their price objective on shares of MongoDB from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Wells Fargo & Company lifted their price objective on shares of MongoDB from $300.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. Needham & Company LLC lifted their price objective on shares of MongoDB from $290.00 to $335.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Scotiabank lifted their price objective on shares of MongoDB from $250.00 to $295.00 and gave the stock a “sector perform” rating in a research report on Friday, August 30th. Finally, DA Davidson lifted their price target on shares of MongoDB from $330.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $343.83.

MongoDB Stock Performance

Shares of MDB stock opened at $324.01 on Monday. The company has a quick ratio of 5.03, a current ratio of 5.03 and a debt-to-equity ratio of 0.84. MongoDB has a 52 week low of $212.74 and a 52 week high of $509.62. The stock has a market capitalization of $23.93 billion, a PE ratio of -107.29 and a beta of 1.17. The firm has a 50 day moving average of $285.33 and a two-hundred day moving average of $269.77.

Insider Transactions at MongoDB

In related news, CFO Michael Lawrence Gordon sold 1,884 shares of the business’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 $482,775.00. Following the sale, the chief financial officer now owns 80,307 shares of the company’s stock, valued at approximately $20,578,668.75. The trade was a 2.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Thomas Bull sold 1,000 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $282.89, for a total transaction of $282,890.00. Following the sale, the chief accounting officer now directly owns 16,222 shares in the company, valued at approximately $4,589,041.58. This represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,600 shares of company stock worth $6,569,819 over the last ninety days. 3.60% of the stock is currently owned by company insiders.

Institutional Trading of MongoDB

Institutional investors have recently added to or reduced their stakes in the stock. MFA Wealth Advisors LLC purchased a new stake in shares of MongoDB in the second quarter valued at about $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 buying an additional 116 shares during the last quarter. 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 buying an additional 129 shares during the last quarter. Hantz Financial Services Inc. acquired a new position in shares of MongoDB in the second quarter valued at approximately $35,000. Finally, Brooklyn Investment Group acquired a new position in shares of MongoDB in the third quarter valued at approximately $36,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

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.