The Goldman Sachs Group Increases MongoDB (NASDAQ:MDB) Price Target to $440.00

MongoDB (NASDAQ:MDB – Get Rating) had its target price increased by stock analysts at The Goldman Sachs Group from $420.00 to $440.00 in a research note issued on Friday, The Fly reports. The Goldman Sachs Group’s price objective points to a potential upside of 12.82% from the company’s current price.

MDB has been the subject of several other reports. Oppenheimer boosted their price objective on shares of MongoDB from $270.00 to $430.00 in a report on Friday, June 2nd. KeyCorp boosted their price objective on shares of MongoDB from $229.00 to $264.00 and gave the company an “overweight” rating in a report on Thursday, April 20th. Tigress Financial reissued a “buy” rating and set a $365.00 price objective on shares of MongoDB in a report on Thursday, April 20th. Morgan Stanley boosted their price objective on shares of MongoDB from $270.00 to $440.00 in a report on Friday. Finally, Piper Sandler boosted their price objective on shares of MongoDB from $270.00 to $400.00 in a report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, MongoDB presently has a consensus rating of “Moderate Buy” and a consensus price target of $349.87.

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MongoDB Price Performance

Shares of MongoDB stock opened at $389.99 on Friday. The firm has a market cap of $27.31 billion, a PE ratio of -83.51 and a beta of 1.04. MongoDB has a 12-month low of $135.15 and a 12-month high of $398.89. The company has a quick ratio of 4.19, a current ratio of 4.19 and a debt-to-equity ratio of 1.44. The company’s fifty day simple moving average is $295.63 and its two-hundred day simple moving average is $238.15.

MongoDB (NASDAQ:MDB – Get Rating) last issued its quarterly 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. MongoDB had a negative net margin of 23.58% and a negative return on equity of 43.25%. The company had revenue of $368.28 million during the quarter, compared to analysts’ expectations of $347.77 million. During the same period last year, the company posted ($1.15) EPS. MongoDB’s revenue was up 29.0% on a year-over-year basis. As a group, equities analysts expect that MongoDB will post -2.85 EPS for the current year.

Insider Activity at MongoDB

In other MongoDB news, CAO Thomas Bull sold 605 shares of the business’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $228.34, for a total transaction of $138,145.70. Following the sale, the chief accounting officer now directly owns 17,706 shares in the company, valued at $4,042,988.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CRO Cedric Pech sold 720 shares of the business’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $228.33, for a total transaction of $164,397.60. Following the completion of the transaction, the executive now directly owns 53,050 shares of the company’s stock, valued at $12,112,906.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 completion of the transaction, the chief accounting officer now directly owns 17,706 shares of the company’s stock, valued at $4,042,988.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 108,856 shares of company stock worth $27,327,511. Company insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On MongoDB

Large investors have recently modified their holdings of the company. Bessemer Group Inc. acquired a new stake in shares of MongoDB in the fourth quarter valued at approximately $29,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of MongoDB during the fourth quarter worth $30,000. Global Retirement Partners LLC lifted its holdings in shares of MongoDB by 346.7% during the first quarter. Global Retirement Partners LLC now owns 134 shares of the company’s stock worth $30,000 after purchasing an additional 104 shares during the period. Lindbrook Capital LLC lifted its holdings in shares of MongoDB by 350.0% during the fourth quarter. Lindbrook Capital LLC now owns 171 shares of the company’s stock worth $34,000 after purchasing an additional 133 shares during the period. Finally, Y.D. More Investments Ltd acquired a new stake in shares of MongoDB during the fourth quarter worth $36,000. 89.22% of the stock is owned by institutional investors and hedge funds.

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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