MongoDB (NASDAQ:MDB) PT Raised to $420.00 at Truist Financial

Posted by on Jun 24th, 2023

MongoDB (NASDAQ:MDB – Get Rating) had its target price increased by analysts at Truist Financial from $365.00 to $420.00 in a report issued on Friday, The Fly reports. Truist Financial’s price target indicates a potential upside of 7.70% from the company’s current price.

MDB has been the topic of a number of other research reports. Tigress Financial restated a “buy” rating and issued a $365.00 target price on shares of MongoDB in a research note on Thursday, April 20th. Stifel Nicolaus upped their target price on MongoDB from $375.00 to $420.00 in a report on Friday. Barclays upped their target price on MongoDB from $280.00 to $374.00 in a report on Friday, June 2nd. KeyCorp upped their target price on MongoDB from $229.00 to $264.00 and gave the company an “overweight” rating in a report on Thursday, April 20th. Finally, The Goldman Sachs Group upped their target price on MongoDB from $420.00 to $440.00 in a report on Friday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat.com, MongoDB has a consensus rating of “Moderate Buy” and an average target price of $349.87.

MongoDB Trading Up 0.4 %

MDB opened at $389.99 on Friday. MongoDB has a fifty-two week low of $135.15 and a fifty-two week high of $398.89. The firm has a market capitalization of $27.31 billion, a PE ratio of -83.51 and a beta of 1.04. The company has a debt-to-equity ratio of 1.44, a current ratio of 4.19 and a quick ratio of 4.19. The company’s 50-day moving average is $295.63 and its 200 day moving average is $238.15.

MongoDB (NASDAQ:MDB – Get Rating) last posted its earnings results on Thursday, June 1st. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.38. MongoDB had a negative return on equity of 43.25% and a negative net margin of 23.58%. The company had revenue of $368.28 million for the quarter, compared to analyst estimates of $347.77 million. During the same quarter last year, the company earned ($1.15) earnings per share. The company’s revenue for the quarter was up 29.0% on a year-over-year basis. As a group, research analysts predict that MongoDB will post -2.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Thomas Bull sold 605 shares of the stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $228.34, for a total value of $138,145.70. Following the sale, the chief accounting officer now owns 17,706 shares in the company, valued at $4,042,988.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Michael Lawrence Gordon sold 5,157 shares of the stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $228.36, for a total value of $1,177,652.52. Following the sale, the chief financial officer now owns 103,706 shares in the company, valued at $23,682,302.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Thomas Bull sold 605 shares of the stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 17,706 shares in the company, valued at approximately $4,042,988.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 108,856 shares of company stock worth $27,327,511. Corporate insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MDB. Raymond James & Associates increased its stake in MongoDB by 32.0% in the first quarter. Raymond James & Associates now owns 4,922 shares of the company’s stock valued at $2,183,000 after acquiring an additional 1,192 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in MongoDB by 19.1% in the first quarter. PNC Financial Services Group Inc. now owns 1,282 shares of the company’s stock valued at $569,000 after acquiring an additional 206 shares during the last quarter. MetLife Investment Management LLC bought a new position in MongoDB in the first quarter valued at $1,823,000. Panagora Asset Management Inc. increased its stake in MongoDB by 9.8% in the first quarter. Panagora Asset Management Inc. now owns 1,977 shares of the company’s stock valued at $877,000 after acquiring an additional 176 shares during the last quarter. Finally, Vontobel Holding Ltd. increased its stake in MongoDB by 100.3% in the first quarter. Vontobel Holding Ltd. now owns 2,873 shares of the company’s stock valued at $1,236,000 after acquiring an additional 1,439 shares during the last quarter. Institutional investors own 89.22% of the company’s stock.

MongoDB Company Profile

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MongoDB, Inc provides general purpose database platform worldwide. The company offers MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.

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