MongoDB (NASDAQ:MDB) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

MongoDB (NASDAQ:MDB) had its price objective raised by equities research analysts at Canaccord Genuity Group from $325.00 to $385.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 33.40% from the company’s current price.

MDB has been the subject of a number of other reports. Stifel Nicolaus raised their price target on MongoDB from $325.00 to $360.00 and gave the company a “buy” rating in a research note on Monday. JMP Securities restated a “market outperform” rating and issued a $380.00 price target on shares of MongoDB in a research note on Friday, August 30th. Wedbush upgraded MongoDB to a “strong-buy” rating in a research note on Thursday, October 17th. Oppenheimer raised their price target on MongoDB from $350.00 to $400.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, The Goldman Sachs Group raised their price target on MongoDB from $340.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $370.08.

MongoDB Stock Down 2.9 %

Shares of MongoDB stock opened at $288.61 on Wednesday. The business’s 50 day simple moving average is $293.13 and its 200 day simple moving average is $269.12. MongoDB has a 52-week low of $212.74 and a 52-week high of $509.62. The firm has a market cap of $21.32 billion, a PE ratio of -95.57 and a beta of 1.17. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.03 and a current ratio of 5.03.

MongoDB (NASDAQ:MDB) last announced its earnings results on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.48. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. The business had revenue of $529.40 million for the quarter, compared to analyst estimates of $497.39 million. During the same quarter last year, the firm earned $0.96 EPS. MongoDB’s revenue for the quarter was up 22.3% compared to the same quarter last year. On average, analysts predict that MongoDB will post -2.37 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Michael Lawrence Gordon sold 5,000 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $290.31, for a total transaction of $1,451,550.00. Following the completion of the sale, the chief financial officer now directly owns 80,307 shares in the company, valued at approximately $23,313,925.17. This represents a 5.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Thomas Bull sold 1,000 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $355.92, for a total value of $355,920.00. Following the sale, the chief accounting officer now owns 15,068 shares of the company’s stock, valued at approximately $5,363,002.56. The trade was a 6.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 26,600 shares of company stock worth $7,611,849. 3.60% of the stock is currently owned by company insiders.

Institutional Trading of MongoDB

Several institutional investors and hedge funds have recently modified their holdings of MDB. MFA Wealth Advisors LLC bought a new stake in shares of MongoDB during the 2nd quarter worth $25,000. J.Safra Asset Management Corp raised its position in MongoDB by 682.4% in the second quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock valued at $33,000 after purchasing an additional 116 shares during the last quarter. Quarry LP raised its position in MongoDB by 2,580.0% in the second quarter. Quarry LP now owns 134 shares of the company’s stock valued at $33,000 after purchasing an additional 129 shares during the last quarter. Hantz Financial Services Inc. bought a new position in MongoDB in the second quarter valued at about $35,000. Finally, Brooklyn Investment Group bought a new position in MongoDB in the third quarter valued at about $36,000. 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.