MongoDB (NASDAQ:MDB) Price Target Increased to $420.00 by Analysts at The Goldman Sachs Group

Posted by on Jun 3rd, 2023

MongoDB (NASDAQ:MDB – Get Rating) had its price target boosted by The Goldman Sachs Group from $280.00 to $420.00 in a research report report published on Friday, The Fly reports.

Other research analysts also recently issued reports about the stock. Guggenheim downgraded shares of MongoDB from a neutral rating to a sell rating and boosted their target price for the company from $205.00 to $210.00 in a research report on Thursday, May 25th. They noted that the move was a valuation call. Wedbush decreased their price objective on shares of MongoDB from $240.00 to $230.00 in a research report on Thursday, March 9th. Credit Suisse Group decreased their price objective on shares of MongoDB from $305.00 to $250.00 and set an outperform rating for the company in a research report on Friday, March 10th. Morgan Stanley upgraded shares of MongoDB from an equal weight rating to an overweight rating and upped their price objective for the stock from $230.00 to $270.00 in a research report on Wednesday, April 12th. Finally, Tigress Financial reiterated a buy rating and issued a $365.00 price objective on shares of MongoDB in a research report on Thursday, April 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $322.17.

MongoDB Price Performance

NASDAQ MDB opened at $376.30 on Friday. The company has a fifty day moving average of $244.10 and a 200 day moving average of $213.27. MongoDB has a 1 year low of $135.15 and a 1 year high of $397.98. The company has a debt-to-equity ratio of 1.54, a quick ratio of 3.80 and a current ratio of 3.80.

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

Insider Transactions at MongoDB

In other news, CAO Thomas Bull sold 605 shares of the company’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $228.34, for a total value of $138,145.70. Following the transaction, the chief accounting officer now directly owns 17,706 shares in the company, valued at approximately $4,042,988.04. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CAO Thomas Bull sold 605 shares of the company’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $228.34, for a total value of $138,145.70. Following the transaction, the chief accounting officer now directly owns 17,706 shares in the company, valued at approximately $4,042,988.04. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Hope F. Cochran sold 1,175 shares of the company’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $228.33, for a total transaction of $268,287.75. Following the completion of the transaction, the director now owns 9,437 shares in the company, valued at $2,154,750.21. The disclosure for this sale can be found here. In the last three months, insiders have sold 81,013 shares of company stock worth $18,896,567. 4.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MongoDB

A number of hedge funds have recently added to or reduced their stakes in MDB. Bessemer Group Inc. acquired a new stake in MongoDB during the 4th quarter worth approximately $29,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in MongoDB during the 4th quarter worth approximately $30,000. Global Retirement Partners LLC lifted its holdings in MongoDB by 346.7% during the 1st quarter. Global Retirement Partners LLC now owns 134 shares of the company’s stock worth $30,000 after buying an additional 104 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in MongoDB by 350.0% during the 4th quarter. Lindbrook Capital LLC now owns 171 shares of the company’s stock worth $34,000 after buying an additional 133 shares in the last quarter. Finally, Y.D. More Investments Ltd acquired a new stake in MongoDB during the 4th quarter worth approximately $36,000. 84.86% of the stock is currently 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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