MongoDB (NASDAQ:MDB) Price Target Increased to $425.00 by Analysts at Citigroup

MongoDB (NASDAQ:MDBGet Rating) had its target price upped by equities researchers at Citigroup from $405.00 to $425.00 in a note issued to investors on Thursday, The Fly reports. Citigroup’s price target would indicate a potential upside of 63.46% from the company’s current price.

MDB has been the subject of several other research reports. Barclays upped their price objective on MongoDB from $330.00 to $338.00 and gave the company an “overweight” rating in a research note on Thursday. Canaccord Genuity Group decreased their target price on shares of MongoDB from $400.00 to $300.00 in a research report on Thursday. Zacks Investment Research downgraded shares of MongoDB from a “hold” rating to a “sell” rating in a research report on Thursday, February 3rd. William Blair reissued an “outperform” rating on shares of MongoDB in a research report on Tuesday, May 24th. Finally, Tigress Financial began coverage on shares of MongoDB in a research report on Friday, February 11th. They set a “buy” rating and a $630.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $440.56.

Shares of MDB opened at $260.00 on Thursday. The company has a market cap of $17.57 billion, a price-to-earnings ratio of -54.85 and a beta of 1.01. MongoDB has a 1-year low of $213.39 and a 1-year high of $590.00. The company’s fifty day simple moving average is $343.10 and its 200 day simple moving average is $403.96. The company has a current ratio of 4.02, a quick ratio of 4.02 and a debt-to-equity ratio of 1.70.

MongoDB (NASDAQ:MDBGet Rating) last released its quarterly earnings data on Wednesday, June 1st. The company reported $0.20 EPS for the quarter, beating the consensus estimate of ($1.34) by $1.54. The firm had revenue of $285.45 million for the quarter, compared to the consensus estimate of $267.10 million. MongoDB had a negative net margin of 35.12% and a negative return on equity of 66.70%. The company’s quarterly revenue was up 57.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.98) earnings per share. As a group, research analysts forecast that MongoDB will post -5.48 earnings per share for the current year.

In related news, CRO Cedric Pech sold 309 shares of the stock in a transaction that occurred on Monday, April 4th. The stock was sold at an average price of $443.77, for a total transaction of $137,124.93. Following the completion of the transaction, the executive now directly owns 46,135 shares of the company’s stock, valued at $20,473,328.95. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Thomas Bull sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 31st. The shares were sold at an average price of $444.14, for a total value of $1,110,350.00. Following the completion of the sale, the insider now directly owns 17,904 shares of the company’s stock, valued at $7,951,882.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 122,809 shares of company stock valued at $43,079,955. Company insiders own 5.70% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of MDB. Confluence Wealth Services Inc. purchased a new position in shares of MongoDB in the 4th quarter valued at about $25,000. Bank of New Hampshire purchased a new stake in shares of MongoDB in the first quarter valued at approximately $25,000. Quent Capital LLC acquired a new position in MongoDB in the fourth quarter valued at approximately $26,000. Arlington Partners LLC acquired a new position in MongoDB in the fourth quarter valued at approximately $30,000. Finally, HBC Financial Services PLLC lifted its holdings in MongoDB by 3,233.3% in the fourth quarter. HBC Financial Services PLLC now owns 400 shares of the company’s stock valued at $39,000 after acquiring an additional 388 shares during the last quarter. 88.70% of the stock is owned by institutional investors.

About MongoDB (Get Rating)

MongoDB, Inc provides general purpose database platform worldwide. The company offers MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.

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