MongoDB (NASDAQ:MDB) Given New $425.00 Price Target at Wells Fargo & Company

MongoDB (NASDAQ:MDB) had its target price hoisted by Wells Fargo & Company from $350.00 to $425.00 in a research note issued to investors on Tuesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

MDB has been the topic of a number of other reports. Truist Financial restated a “buy” rating and issued a $400.00 target price (up from $320.00) on shares of MongoDB in a report on Tuesday. The Goldman Sachs Group boosted their price target on MongoDB from $340.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday. UBS Group raised their price objective on MongoDB from $250.00 to $275.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Royal Bank of Canada lifted their price objective on MongoDB from $350.00 to $400.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Loop Capital increased their target price on MongoDB from $315.00 to $400.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $370.48.

MongoDB Stock Down 16.9 %

MDB stock opened at $290.90 on Tuesday. MongoDB has a 12 month low of $212.74 and a 12 month high of $509.62. The company has a debt-to-equity ratio of 0.84, a current ratio of 5.03 and a quick ratio of 5.03. The company’s 50 day simple moving average is $291.56 and its 200-day simple moving average is $268.79. The firm has a market capitalization of $21.49 billion, a PE ratio of -96.32 and a beta of 1.17.

MongoDB (NASDAQ:MDB) last announced its earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.48. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. The firm had revenue of $529.40 million for the quarter, compared to analysts’ expectations of $497.39 million. During the same quarter in the prior year, the firm earned $0.96 EPS. MongoDB’s quarterly revenue was up 22.3% on a year-over-year basis. Equities analysts expect that MongoDB will post -2.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other MongoDB news, Director Dwight A. Merriman sold 3,000 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $323.00, for a total value of $969,000.00. Following the transaction, the director now owns 1,121,006 shares in the company, valued at $362,084,938. The trade was a 0.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Cedric Pech sold 302 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total value of $77,387.50. Following the sale, the executive now owns 33,440 shares of the company’s stock, valued at $8,569,000. This represents a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,600 shares of company stock worth $7,255,929 in the last 90 days. 3.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On MongoDB

Several institutional investors and hedge funds have recently made changes to their positions in the business. Jennison Associates LLC raised its holdings in MongoDB by 23.6% in the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock valued at $838,632,000 after acquiring an additional 592,038 shares in the last quarter. Swedbank AB increased its position in shares of MongoDB by 156.3% in the 2nd quarter. Swedbank AB now owns 656,993 shares of the company’s stock worth $164,222,000 after purchasing an additional 400,705 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in shares of MongoDB by 1,098.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock valued at $106,084,000 after purchasing an additional 388,979 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of MongoDB during the second quarter worth about $52,131,000. Finally, Avala Global LP acquired a new position in MongoDB in the third quarter worth about $47,960,000. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

MongoDB Company Profile

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.