MongoDB (NASDAQ:MDB) Price Target Raised to $430.00 at Oppenheimer

Posted by Defense World Staff on Jun 3rd, 2023

MongoDB (NASDAQ:MDB – Get Rating) had its price target upped by Oppenheimer from $270.00 to $430.00 in a research note released on Friday, The Fly reports.

MDB has been the subject of several other reports. KeyCorp raised their price objective on MongoDB from $229.00 to $264.00 and gave the stock an overweight rating in a research note on Thursday, April 20th. Stifel Nicolaus reduced their price objective on MongoDB from $256.00 to $240.00 in a research note on Thursday, February 23rd. Robert W. Baird raised their target price on MongoDB from $230.00 to $290.00 in a report on Wednesday. JMP Securities raised their target price on MongoDB from $245.00 to $370.00 in a report on Friday. Finally, Piper Sandler raised their target price on MongoDB from $270.00 to $400.00 in a report on Friday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $322.17.

MongoDB Stock Up 28.0 %

MongoDB stock opened at $376.30 on Friday. The stock has a 50-day moving average of $244.10 and a two-hundred day moving average of $213.27. The company has a current ratio of 3.80, a quick ratio of 3.80 and a debt-to-equity ratio of 1.54. MongoDB has a one year low of $135.15 and a one year high of $397.98.

MongoDB (NASDAQ:MDB – Get Rating) last announced its quarterly earnings data on Thursday, June 1st. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.38. MongoDB had a negative return on equity of 44.73% and a negative net margin of 23.58%. The firm had revenue of $368.28 million during the quarter, compared to analysts’ expectations of $347.77 million. During the same period last year, the business posted ($1.15) earnings per share. The company’s revenue for the quarter was up 29.0% compared to the same quarter last year. Equities research analysts forecast that MongoDB will post -4.04 earnings per share for the current fiscal year.

Insider Buying and Selling at MongoDB

In other MongoDB news, CRO Cedric Pech sold 15,534 shares of MongoDB stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $250.00, for a total value of $3,883,500.00. Following the sale, the executive now owns 37,516 shares in the company, valued at $9,379,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CTO Mark Porter sold 2,673 shares of MongoDB stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $250.00, for a total value of $668,250.00. Following the completion of the sale, the chief technology officer now directly owns 40,336 shares of the company’s stock, valued at $10,084,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CRO Cedric Pech sold 15,534 shares of MongoDB stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $250.00, for a total value of $3,883,500.00. Following the completion of the sale, the executive now directly owns 37,516 shares of the company’s stock, valued at $9,379,000. The disclosure for this sale can be found here. Insiders have sold 81,013 shares of company stock worth $18,896,567 over the last quarter. 4.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MDB. 1832 Asset Management L.P. grew its stake in MongoDB by 3,283,771.0% during the 4th quarter. 1832 Asset Management L.P. now owns 1,018,000 shares of the company’s stock worth $200,383,000 after purchasing an additional 1,017,969 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of MongoDB by 13.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,593,996 shares of the company’s stock worth $1,770,313,000 after acquiring an additional 897,911 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of MongoDB by 493.2% in the 4th quarter. Renaissance Technologies LLC now owns 918,200 shares of the company’s stock valued at $180,738,000 after purchasing an additional 763,400 shares during the last quarter. Norges Bank purchased a new stake in shares of MongoDB in the 4th quarter valued at about $147,735,000. Finally, Champlain Investment Partners LLC purchased a new stake in shares of MongoDB in the 1st quarter valued at about $89,157,000. 84.86% of the stock is owned by institutional investors and hedge funds.

About MongoDB

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MongoDB, Inc engages in the development and provision of a general-purpose database platform. The firm’s products include MongoDB Enterprise Advanced, MongoDB Atlas and Community Server. It also offers professional services including consulting and training. The company was founded by Eliot Horowitz, Dwight A.

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