MongoDB (NASDAQ:MDB) Given New $375.00 Price Target at Royal Bank of Canada

MongoDB (NASDAQ:MDBGet Rating) had its target price hoisted by Royal Bank of Canada from $325.00 to $375.00 in a report released on Thursday, The Fly reports. Royal Bank of Canada’s target price suggests a potential upside of 25.41% from the stock’s current price.

Other research analysts have also issued reports about the company. Citigroup raised their price objective on MongoDB from $405.00 to $425.00 in a research report on Thursday, June 2nd. Canaccord Genuity Group dropped their target price on MongoDB from $400.00 to $300.00 in a research report on Thursday, June 2nd. UBS Group lifted their target price on MongoDB from $315.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday. Mizuho dropped their target price on MongoDB from $325.00 to $270.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 18th. Finally, Piper Sandler dropped their target price on MongoDB from $585.00 to $430.00 and set an “overweight” rating on the stock in a research report on Thursday, June 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, MongoDB has an average rating of “Buy” and a consensus price target of $425.59.

Shares of NASDAQ:MDB opened at $299.01 on Thursday. MongoDB has a one year low of $213.39 and a one year high of $590.00. The business’s fifty day moving average price is $329.41 and its two-hundred day moving average price is $394.06. The company has a debt-to-equity ratio of 1.69, a quick ratio of 4.02 and a current ratio of 4.16. The stock has a market cap of $20.20 billion, a PE ratio of -61.78 and a beta of 1.00.

MongoDB (NASDAQ:MDBGet Rating) last posted its quarterly earnings data on Wednesday, June 1st. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.34) by $1.54. MongoDB had a negative return on equity of 45.56% and a negative net margin of 32.75%. The business had revenue of $285.45 million for the quarter, compared to analysts’ expectations of $267.10 million. During the same quarter last year, the firm earned ($0.98) earnings per share. The business’s revenue was up 57.1% on a year-over-year basis. As a group, equities research analysts predict that MongoDB will post -5.09 earnings per share for the current fiscal year.

In related news, Director Dwight A. Merriman sold 3,000 shares of the firm’s stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $251.74, for a total transaction of $755,220.00. Following the sale, the director now owns 544,896 shares of the company’s stock, valued at approximately $137,172,119.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dev Ittycheria sold 35,000 shares of the firm’s stock in a transaction on Wednesday, April 6th. The stock was sold at an average price of $412.38, for a total value of $14,433,300.00. Following the sale, the chief executive officer now directly owns 204,744 shares in the company, valued at approximately $84,432,330.72. The disclosure for this sale can be found here. In the last three months, insiders sold 90,809 shares of company stock worth $32,992,875. 5.70% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in MDB. Allspring Global Investments Holdings LLC bought a new position in MongoDB during the fourth quarter worth about $674,390,000. Norges Bank acquired a new stake in MongoDB during the fourth quarter worth approximately $277,934,000. TD Asset Management Inc. lifted its position in MongoDB by 153.9% during the fourth quarter. TD Asset Management Inc. now owns 525,000 shares of the company’s stock worth $277,909,000 after acquiring an additional 318,259 shares during the last quarter. Jennison Associates LLC acquired a new stake in MongoDB during the first quarter worth approximately $113,395,000. Finally, 1832 Asset Management L.P. lifted its position in MongoDB by 19.3% during the first quarter. 1832 Asset Management L.P. now owns 1,028,400 shares of the company’s stock worth $450,095,000 after acquiring an additional 166,400 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

MongoDB Company Profile (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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