MongoDB (NASDAQ:MDB) Price Target Raised to $374.00 at Barclays

Posted by on Jun 3rd, 2023

MongoDB (NASDAQ:MDB – Get Rating) had its target price raised by Barclays from $280.00 to $374.00 in a research note issued to investors on Friday, The Fly reports.

Other research analysts have also issued research reports about the stock. Stifel Nicolaus decreased their price target on shares of MongoDB from $256.00 to $240.00 in a research report on Thursday, February 23rd. Tigress Financial restated a buy rating and issued a $365.00 price target on shares of MongoDB in a research report on Thursday, April 20th. Mizuho decreased their price target on shares of MongoDB from $220.00 to $180.00 and set a neutral rating on the stock in a research report on Thursday, March 9th. Guggenheim lowered shares of MongoDB from a neutral rating to a sell rating and lifted their price target for the stock from $205.00 to $210.00 in a research report on Thursday, May 25th. They noted that the move was a valuation call. Finally, Morgan Stanley upgraded shares of MongoDB from an equal weight rating to an overweight rating and lifted their price target for the stock from $230.00 to $270.00 in a research report on Wednesday, April 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $322.17.

MongoDB Trading Up 28.0 %

Shares of NASDAQ:MDB opened at $376.30 on Friday. MongoDB has a 12 month low of $135.15 and a 12 month high of $397.98. The stock’s 50 day moving average price is $244.10 and its 200 day moving average price is $213.27. The company has a debt-to-equity ratio of 1.54, a current ratio of 3.80 and a quick ratio of 3.80.

MongoDB (NASDAQ:MDB – Get Rating) last posted its quarterly earnings results 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. The firm had revenue of $368.28 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.15) earnings per share. As a group, equities research analysts anticipate that MongoDB will post -4.04 EPS for the current fiscal year.

Insider Activity at MongoDB

In related news, CEO Dev Ittycheria sold 49,249 shares of MongoDB stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $227.55, for a total value of $11,206,609.95. Following the completion of the sale, the chief executive officer now owns 222,311 shares of the company’s stock, valued at approximately $50,586,868.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Dev Ittycheria sold 49,249 shares of MongoDB stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $227.55, for a total value of $11,206,609.95. Following the completion of the sale, the chief executive officer now owns 222,311 shares of the company’s stock, valued at approximately $50,586,868.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CRO Cedric Pech sold 720 shares of MongoDB stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $228.33, for a total transaction of $164,397.60. Following the completion of the sale, the executive now directly owns 53,050 shares of the company’s stock, valued at approximately $12,112,906.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 81,013 shares of company stock valued at $18,896,567. Insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Cherry Creek Investment Advisors Inc. lifted its position in MongoDB by 1.5% during the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 3,283 shares of the company’s stock worth $646,000 after acquiring an additional 50 shares during the last quarter. CWM LLC lifted its position in MongoDB by 2.4% during the 1st quarter. CWM LLC now owns 2,235 shares of the company’s stock worth $521,000 after acquiring an additional 52 shares during the last quarter. First Horizon Advisors Inc. lifted its position in MongoDB by 29.5% during the 1st quarter. First Horizon Advisors Inc. now owns 228 shares of the company’s stock worth $53,000 after acquiring an additional 52 shares during the last quarter. Allworth Financial LP lifted its position in MongoDB by 12.9% during the 4th quarter. Allworth Financial LP now owns 508 shares of the company’s stock worth $100,000 after acquiring an additional 58 shares during the last quarter. Finally, Bleakley Financial Group LLC lifted its position in MongoDB by 5.3% during the 1st quarter. Bleakley Financial Group LLC now owns 1,144 shares of the company’s stock worth $267,000 after acquiring an additional 58 shares during the last quarter. Institutional investors and hedge funds own 84.86% of the company’s stock.

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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