Citigroup Forecasts Strong Price Appreciation for MongoDB (NASDAQ:MDB) Stock

MongoDB (NASDAQ:MDB) had its price objective boosted by equities research analysts at Citigroup from $400.00 to $430.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective indicates a potential upside of 62.20% from the stock’s current price.

MDB has been the subject of a number of other research reports. Barclays boosted their price target on MongoDB from $375.00 to $400.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Robert W. Baird upped their price objective on shares of MongoDB from $380.00 to $390.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. UBS Group raised their target price on shares of MongoDB from $250.00 to $275.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Morgan Stanley boosted their price target on shares of MongoDB from $340.00 to $350.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Finally, Mizuho increased their price objective on shares of MongoDB from $275.00 to $320.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, five have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $365.07.

MongoDB Stock Down 0.2 %

Shares of NASDAQ:MDB opened at $265.10 on Monday. The company’s 50-day moving average price is $293.29 and its 200 day moving average price is $267.30. The company has a market cap of $19.58 billion, a PE ratio of -97.55 and a beta of 1.17. MongoDB has a fifty-two week low of $212.74 and a fifty-two week high of $509.62.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.68 by $0.48. The company had revenue of $529.40 million for the quarter, compared to analyst estimates of $497.39 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. MongoDB’s revenue was up 22.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.96 earnings per share. As a group, equities analysts anticipate that MongoDB will post -2.29 EPS for the current year.

Insider Buying and Selling at MongoDB

In other news, Director Dwight A. Merriman sold 2,000 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $349.17, for a total transaction of $698,340.00. Following the transaction, the director now owns 1,124,006 shares in the company, valued at $392,469,175.02. This represents a 0.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Thomas Bull sold 154 shares of MongoDB stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total transaction of $39,462.50. Following the completion of the sale, the chief accounting officer now directly owns 16,068 shares of the company’s stock, valued at approximately $4,117,425. The trade was a 0.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,600 shares of company stock worth $7,611,849 over the last 90 days. 3.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MongoDB

Hedge funds have recently bought and sold shares of the business. MFA Wealth Advisors LLC acquired a new stake in shares of MongoDB in the second quarter worth about $25,000. Quarry LP increased its holdings in shares of MongoDB by 2,580.0% during the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock valued at $33,000 after acquiring an additional 129 shares during the last quarter. Hantz Financial Services Inc. bought a new position in shares of MongoDB in the 2nd quarter valued at approximately $35,000. Brooklyn Investment Group acquired a new stake in MongoDB in the 3rd quarter worth approximately $36,000. Finally, GAMMA Investing LLC boosted its position in MongoDB by 178.8% during the third quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock worth $39,000 after purchasing an additional 93 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.