MongoDB (NASDAQ:MDB) Given New $260.00 Price Target at Guggenheim

MongoDB (NASDAQ:MDB) had its target price boosted by Guggenheim from $235.00 to $260.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts also recently issued research reports about the company. Scotiabank reissued a “sector perform” rating and issued a $160.00 price objective (down previously from $240.00) on shares of MongoDB in a report on Friday, April 25th. Cantor Fitzgerald assumed coverage on MongoDB in a report on Wednesday, March 5th. They issued an “overweight” rating and a $344.00 price objective for the company. Morgan Stanley cut their price objective on MongoDB from $315.00 to $235.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Barclays cut their price objective on MongoDB from $280.00 to $252.00 and set an “overweight” rating for the company in a report on Friday, May 16th. Finally, Citigroup cut their price objective on MongoDB from $430.00 to $330.00 and set a “buy” rating for the company in a report on Tuesday, April 1st. Eight research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $282.00.

MongoDB Stock Up 12.8%

NASDAQ:MDB opened at $225.38 on Thursday. MongoDB has a twelve month low of $140.78 and a twelve month high of $370.00. The business has a 50 day moving average price of $175.65 and a two-hundred day moving average price of $230.40. The company has a market cap of $18.30 billion, a P/E ratio of -82.26 and a beta of 1.40.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.35. The firm had revenue of $549.01 million during the quarter, compared to the consensus estimate of $527.49 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The business’s revenue was up 21.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.51 EPS. As a group, analysts anticipate that MongoDB will post -1.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Thomas Bull sold 301 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $173.25, for a total value of $52,148.25. Following the transaction, the chief accounting officer now owns 14,598 shares in the company, valued at approximately $2,529,103.50. This trade represents a 2.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Cedric Pech sold 1,690 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total value of $292,809.40. Following the completion of the transaction, the insider now owns 57,634 shares in the company, valued at $9,985,666.84. The trade was a 2.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,203 shares of company stock worth $3,848,569 in the last 90 days. Company insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MDB. HighTower Advisors LLC grew its position in MongoDB by 2.0% in the fourth quarter. HighTower Advisors LLC now owns 18,773 shares of the company’s stock valued at $4,371,000 after acquiring an additional 372 shares during the last quarter. Jones Financial Companies Lllp grew its position in MongoDB by 68.0% in the fourth quarter. Jones Financial Companies Lllp now owns 1,020 shares of the company’s stock valued at $237,000 after acquiring an additional 413 shares during the last quarter. Smartleaf Asset Management LLC grew its position in MongoDB by 56.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 370 shares of the company’s stock valued at $87,000 after acquiring an additional 134 shares during the last quarter. Steward Partners Investment Advisory LLC grew its position in MongoDB by 12.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,168 shares of the company’s stock valued at $272,000 after acquiring an additional 133 shares during the last quarter. Finally, Stanley Laman Group Ltd. bought a new position in MongoDB in the fourth quarter valued at about $7,520,000. Institutional investors own 89.29% of the company’s stock.

About MongoDB

MongoDB, Inc, together with its subsidiaries, provides general purpose database platform worldwide. The company provides 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-premises, 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.