Brokerages Set MongoDB, Inc. (NASDAQ:MDB) Price Target at $354.18

Shares of MongoDB, Inc. (NASDAQ:MDB) have earned a consensus rating of “Moderate Buy” from the thirty-eight ratings firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation, twenty-seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $355.2424.

Several brokerages recently commented on MDB. DA Davidson dropped their target price on MongoDB from $465.00 to $385.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Stifel Nicolaus decreased their price target on MongoDB from $450.00 to $330.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. UBS Group lowered their price target on MongoDB from $440.00 to $275.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 3rd. KeyCorp reissued a “sector weight” rating on shares of MongoDB in a research note on Tuesday, December 2nd. Finally, Canaccord Genuity Group cut their price objective on MongoDB from $455.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd.

MongoDB Stock Down 2.4%

Shares of MDB opened at $235.51 on Friday. The firm has a market capitalization of $18.93 billion, a PE ratio of -267.63 and a beta of 1.40. The firm has a 50-day moving average price of $323.38 and a 200 day moving average price of $349.46. MongoDB has a 52-week low of $140.78 and a 52-week high of $444.72.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Monday, March 2nd. The company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.18. The company had revenue of $695.07 million for the quarter, compared to the consensus estimate of $669.40 million. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. MongoDB’s revenue was up 26.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.28 EPS. On average, equities analysts expect that MongoDB will post -1.78 EPS for the current year.

Insider Buying and Selling

In other MongoDB news, Director Dwight A. Merriman sold 1,190 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $369.75, for a total value of $440,002.50. Following the completion of the sale, the director directly owned 80,462 shares of the company’s stock, valued at approximately $29,750,824.50. This represents a 1.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 19,383 shares of company stock valued at $7,910,983 in the last quarter. 3.10% of the stock is currently owned by insiders.

Institutional Trading of MongoDB

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Central Pacific Bank Trust Division bought a new position in shares of MongoDB in the fourth quarter valued at $28,000. Cornerstone Planning Group LLC boosted its stake in shares of MongoDB by 1,220.0% during the 4th quarter. Cornerstone Planning Group LLC now owns 66 shares of the company’s stock worth $27,000 after acquiring an additional 61 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of MongoDB during the 4th quarter worth $33,000. Root Financial Partners LLC grew its holdings in shares of MongoDB by 58.2% in the 4th quarter. Root Financial Partners LLC now owns 87 shares of the company’s stock worth $37,000 after acquiring an additional 32 shares during the last quarter. Finally, Global Trust Asset Management LLC acquired a new position in shares of MongoDB in the 4th quarter worth $38,000. 89.29% of the stock is owned by institutional investors and hedge funds.

About MongoDB

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.