Wells Fargo & Company started coverage on shares of MongoDB (NASDAQ:MDB – Free Report) in a research note released on Thursday, MarketBeat.com reports. The firm issued an overweight rating and a $500.00 price target on the stock.
Other research analysts have also recently issued reports about the stock. Morgan Stanley upped their price target on shares of MongoDB from $440.00 to $480.00 and gave the stock an overweight rating in a report on Friday, September 1st. Royal Bank of Canada reaffirmed an outperform rating and set a $445.00 target price on shares of MongoDB in a research report on Friday, September 1st. Guggenheim increased their price target on MongoDB from $220.00 to $250.00 and gave the stock a sell rating in a research report on Friday, September 1st. Piper Sandler lifted their price objective on MongoDB from $400.00 to $425.00 and gave the company an overweight rating in a report on Friday, September 1st. Finally, UBS Group increased their target price on shares of MongoDB from $425.00 to $465.00 and gave the stock a buy rating in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $419.74.
MongoDB Price Performance
MongoDB (NASDAQ:MDB – Get Free Report) last released its quarterly earnings results on Thursday, August 31st. The company reported ($0.63) EPS for the quarter, topping the consensus estimate of ($0.70) by $0.07. MongoDB had a negative return on equity of 29.69% and a negative net margin of 16.21%. The company had revenue of $423.79 million during the quarter, compared to analyst estimates of $389.93 million. Analysts anticipate that MongoDB will post -2.17 earnings per share for the current fiscal year.
In related news, Director Dwight A. Merriman sold 6,000 shares of MongoDB stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $389.50, for a total value of $2,337,000.00. Following the completion of the sale, the director now directly owns 1,201,159 shares in the company, valued at approximately $467,851,430.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Dwight A. Merriman sold 6,000 shares of the firm’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $389.50, for a total value of $2,337,000.00. Following the completion of the transaction, the director now owns 1,201,159 shares in the company, valued at approximately $467,851,430.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Cedric Pech sold 16,143 shares of MongoDB stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $378.86, for a total value of $6,115,936.98. Following the sale, the executive now directly owns 34,418 shares of the company’s stock, valued at approximately $13,039,603.48. The disclosure for this sale can be found here. Insiders have sold a total of 289,484 shares of company stock worth $101,547,167 over the last 90 days. 4.80% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On MongoDB
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James & Associates raised its stake in shares of MongoDB by 32.0% during the 1st quarter. Raymond James & Associates now owns 4,922 shares of the company’s stock valued at $2,183,000 after buying an additional 1,192 shares during the last quarter. PNC Financial Services Group Inc. raised its position in MongoDB by 19.1% during the first quarter. PNC Financial Services Group Inc. now owns 1,282 shares of the company’s stock valued at $569,000 after acquiring an additional 206 shares in the last quarter. MetLife Investment Management LLC acquired a new position in MongoDB in the first quarter valued at approximately $1,823,000. Panagora Asset Management Inc. boosted its position in MongoDB by 9.8% in the 1st quarter. Panagora Asset Management Inc. now owns 1,977 shares of the company’s stock worth $877,000 after purchasing an additional 176 shares in the last quarter. Finally, Vontobel Holding Ltd. grew its stake in shares of MongoDB by 100.3% during the 1st quarter. Vontobel Holding Ltd. now owns 2,873 shares of the company’s stock worth $1,236,000 after purchasing an additional 1,439 shares during the period. Institutional investors and hedge funds own 88.89% of the company’s stock.
MongoDB, Inc provides general purpose database platform worldwide. The company offers 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-premise, 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.
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