MongoDB (NASDAQ:MDB) Price Target Raised to $350.00 at Oppenheimer

MongoDB (NASDAQ:MDB) had its target price hoisted by equities researchers at Oppenheimer from $300.00 to $350.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price target indicates a potential upside of 42.44% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Citigroup decreased their price objective on MongoDB from $480.00 to $350.00 and set a “buy” rating on the stock in a report on Monday, June 3rd. JMP Securities decreased their price target on MongoDB from $440.00 to $380.00 and set a “market outperform” rating on the stock in a research note on Friday, May 31st. Barclays decreased their price target on MongoDB from $458.00 to $290.00 and set an “overweight” rating on the stock in a research note on Friday, May 31st. DA Davidson raised MongoDB from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 31st. Finally, Canaccord Genuity Group reduced their target price on MongoDB from $435.00 to $325.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. One analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, MongoDB currently has a consensus rating of “Moderate Buy” and an average price target of $356.11.

MongoDB Stock Up 4.4 %

Shares of NASDAQ MDB opened at $245.72 on Friday. The company has a market cap of $18.02 billion, a P/E ratio of -87.44 and a beta of 1.13. The company has a quick ratio of 4.93, a current ratio of 4.93 and a debt-to-equity ratio of 0.90. The business has a 50-day simple moving average of $246.96 and a two-hundred day simple moving average of $317.33. MongoDB has a 52 week low of $212.74 and a 52 week high of $509.62.

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

Insiders Place Their Bets

In other MongoDB news, CRO Cedric Pech sold 273 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $265.29, for a total transaction of $72,424.17. Following the transaction, the executive now owns 35,719 shares of the company’s stock, valued at approximately $9,475,893.51. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CRO Cedric Pech sold 273 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $265.29, for a total value of $72,424.17. Following the completion of the sale, the executive now owns 35,719 shares of the company’s stock, valued at $9,475,893.51. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Hope F. Cochran sold 1,174 shares of MongoDB stock in a transaction on Monday, June 17th. The shares were sold at an average price of $224.38, for a total value of $263,422.12. Following the sale, the director now directly owns 13,011 shares of the company’s stock, valued at approximately $2,919,408.18. The disclosure for this sale can be found here. Insiders sold 30,179 shares of company stock worth $7,368,989 over the last three months. 3.60% of the stock is owned by insiders.

Institutional Investors Weigh In On MongoDB

Large investors have recently bought and sold shares of the business. Transcendent Capital Group LLC bought a new position in shares of MongoDB in the 4th quarter worth $25,000. MFA Wealth Advisors LLC bought a new position in shares of MongoDB in the 2nd quarter worth $25,000. YHB Investment Advisors Inc. bought a new position in shares of MongoDB in the 1st quarter worth $41,000. GAMMA Investing LLC bought a new position in shares of MongoDB in the 4th quarter worth $50,000. Finally, Sunbelt Securities Inc. boosted its position in shares of MongoDB by 155.1% in the 1st quarter. Sunbelt Securities Inc. now owns 125 shares of the company’s stock worth $45,000 after purchasing an additional 76 shares during the last quarter. 89.29% of the stock is currently owned by 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.