MongoDB (NASDAQ:MDB) Given New $400.00 Price Target at Piper Sandler

Posted by Defense World Staff on Jun 3rd, 2023

MongoDB (NASDAQ:MDB – Get Rating) had its price target lifted by Piper Sandler from $270.00 to $400.00 in a report published on Friday morning, The Fly reports.

A number of other analysts have also recently issued reports on the company. Citigroup lowered their price objective on MongoDB from $300.00 to $295.00 and set a buy rating on the stock in a research report on Tuesday, March 7th. Robert W. Baird boosted their price objective on MongoDB from $230.00 to $290.00 in a research report on Wednesday. The Goldman Sachs Group decreased their price target on MongoDB from $325.00 to $280.00 and set a buy rating on the stock in a research note on Thursday, March 9th. Needham & Company LLC boosted their price target on MongoDB from $240.00 to $250.00 and gave the company a buy rating in a research note on Thursday, March 9th. Finally, KeyCorp boosted their price target on MongoDB from $229.00 to $264.00 and gave the company an overweight rating in a research note on Thursday, April 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, MongoDB currently has an average rating of Moderate Buy and an average price target of $322.17.

MongoDB Price Performance

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

MongoDB (NASDAQ:MDB – Get Rating) last released its quarterly earnings data 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 business had revenue of $368.28 million for the quarter, compared to analysts’ expectations of $347.77 million. MongoDB had a negative return on equity of 44.73% and a negative net margin of 23.58%. MongoDB’s quarterly revenue was up 29.0% on a year-over-year basis. During the same period in the previous year, the business posted ($1.15) earnings per share. On average, analysts predict that MongoDB will post -4.04 earnings per share for the current year.

Insiders Place Their Bets

In other MongoDB news, CTO Mark Porter sold 1,900 shares of the firm’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $226.17, for a total transaction of $429,723.00. Following the transaction, the chief technology officer now owns 43,009 shares in the company, valued at $9,727,345.53. The sale was disclosed in a document filed with the SEC, which is available through this link. In other MongoDB news, CRO Cedric Pech sold 15,534 shares of the firm’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $250.00, for a total transaction of $3,883,500.00. Following the transaction, the executive now owns 37,516 shares in the company, valued at $9,379,000. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CTO Mark Porter sold 1,900 shares of the firm’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $226.17, for a total value of $429,723.00. Following the transaction, the chief technology officer now owns 43,009 shares in the company, valued at approximately $9,727,345.53. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 81,013 shares of company stock worth $18,896,567. Insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On MongoDB

A number of hedge funds have recently modified their holdings of the business. Empower Advisory Group LLC acquired a new stake in shares of MongoDB during the first quarter worth about $7,302,000. Toroso Investments LLC raised its position in shares of MongoDB by 5.4% during the first quarter. Toroso Investments LLC now owns 2,827 shares of the company’s stock worth $659,000 after purchasing an additional 144 shares during the period. B. Riley Wealth Advisors Inc. raised its position in shares of MongoDB by 16.0% during the first quarter. B. Riley Wealth Advisors Inc. now owns 1,457 shares of the company’s stock worth $340,000 after purchasing an additional 201 shares during the period. AM Squared Ltd raised its position in shares of MongoDB by 33.3% during the first quarter. AM Squared Ltd now owns 1,200 shares of the company’s stock worth $280,000 after purchasing an additional 300 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC raised its position in shares of MongoDB by 31.5% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 208,455 shares of the company’s stock worth $48,595,000 after purchasing an additional 49,900 shares during the period. Institutional investors and hedge funds own 84.86% of the company’s stock.

MongoDB Company Profile

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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.