MongoDB (NASDAQ:MDB) Trading 9.4% Higher

MongoDB, Inc. (NASDAQ:MDBGet Rating) shares traded up 9.4% during trading on Friday . The company traded as high as $273.88 and last traded at $270.74. 95,921 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 1,598,918 shares. The stock had previously closed at $247.51.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. UBS Group lowered their target price on MongoDB from $430.00 to $390.00 and set a “buy” rating for the company in a research note on Thursday, September 1st. Piper Sandler lowered their target price on MongoDB from $375.00 to $350.00 and set an “overweight” rating for the company in a research note on Thursday, September 1st. The Goldman Sachs Group lowered their target price on MongoDB to $430.00 in a research note on Tuesday, September 6th. Mizuho raised their target price on MongoDB from $270.00 to $390.00 and gave the company a “buy” rating in a research note on Wednesday, August 17th. Finally, Credit Suisse Group lowered their price objective on MongoDB from $500.00 to $400.00 and set an “outperform” rating for the company in a research note on Thursday, September 1st. One analyst has rated the stock with a sell rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, MongoDB currently has an average rating of “Moderate Buy” and a consensus price target of $386.83.

MongoDB Stock Up 8.5 %

The company has a 50 day moving average price of $313.40 and a two-hundred day moving average price of $322.92. The company has a debt-to-equity ratio of 1.70, a current ratio of 4.02 and a quick ratio of 4.16. The stock has a market cap of $18.46 billion, a PE ratio of -50.12 and a beta of 0.95.

MongoDB (NASDAQ:MDBGet Rating) last posted its quarterly earnings results on Wednesday, August 31st. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.05. MongoDB had a negative return on equity of 52.05% and a negative net margin of 33.43%. The firm had revenue of $303.66 million during the quarter, compared to analysts’ expectations of $282.31 million. During the same quarter in the previous year, the business earned ($1.15) earnings per share. The company’s revenue was up 52.8% on a year-over-year basis. Analysts expect that MongoDB, Inc. will post -5.36 EPS for the current year.

Insider Buying and Selling

In related news, CRO Cedric Pech sold 350 shares of MongoDB stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $264.46, for a total value of $92,561.00. Following the completion of the sale, the executive now owns 45,785 shares of the company’s stock, valued at $12,108,301.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other MongoDB news, Director Dwight A. Merriman sold 629 shares of the business’s stock in a transaction dated Tuesday, June 28th. The stock was sold at an average price of $292.64, for a total transaction of $184,070.56. Following the completion of the sale, the director now owns 1,322,755 shares of the company’s stock, valued at $387,091,023.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Cedric Pech sold 350 shares of the business’s stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $264.46, for a total value of $92,561.00. Following the sale, the executive now directly owns 45,785 shares of the company’s stock, valued at approximately $12,108,301.10. The disclosure for this sale can be found here. Insiders sold 41,458 shares of company stock valued at $11,831,861 over the last 90 days. Company insiders own 5.70% of the company’s stock.

Institutional Trading of MongoDB

Hedge funds have recently bought and sold shares of the stock. Confluence Wealth Services Inc. bought a new position in shares of MongoDB in the fourth quarter worth about $25,000. Bank of New Hampshire bought a new position in shares of MongoDB in the first quarter worth about $25,000. Covestor Ltd bought a new position in shares of MongoDB in the fourth quarter worth about $43,000. Cullen Frost Bankers Inc. bought a new position in shares of MongoDB in the first quarter worth about $44,000. Finally, John W. Brooker & Co. CPAs bought a new position in shares of MongoDB in the second quarter worth about $26,000. Institutional investors own 89.85% of the company’s stock.

About MongoDB

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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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