Truist Financial Boosts MongoDB (NASDAQ:MDB) Price Target to $320.00

MongoDB (NASDAQ:MDB) had its price objective increased by Truist Financial from $300.00 to $320.00 in a report published on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also issued reports about the company. Robert W. Baird cut their price objective on MongoDB from $450.00 to $305.00 and set an outperform rating on the stock in a research report on Friday, May 31st. Citigroup cut their price target on shares of MongoDB from $480.00 to $350.00 and set a buy rating on the stock in a report on Monday, June 3rd. Needham & Company LLC restated a buy rating and issued a $290.00 price objective on shares of MongoDB in a report on Thursday, June 13th. JMP Securities cut their target price on shares of MongoDB from $440.00 to $380.00 and set a market outperform rating on the stock in a research note on Friday, May 31st. Finally, Mizuho increased their price target on shares of MongoDB from $250.00 to $275.00 and gave the stock a neutral rating in a research note on Friday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat.com, MongoDB has a consensus rating of Moderate Buy and a consensus price target of $341.27.

MongoDB Stock Performance

NASDAQ:MDB opened at $290.79 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 4.93 and a current ratio of 4.93. MongoDB has a fifty-two week low of $212.74 and a fifty-two week high of $509.62. The firm has a market cap of $21.33 billion, a PE ratio of -103.48 and a beta of 1.13. The business has a 50 day moving average price of $248.22 and a 200-day moving average price of $313.66.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Thursday, August 29th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.21. The firm had revenue of $478.11 million for the quarter, compared to analysts’ expectations of $465.03 million. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.95%. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.63) earnings per share. Equities research analysts predict that MongoDB will post -2.67 earnings per share for the current year.

Insider Buying and Selling at MongoDB

In other news, Director Dwight A. Merriman sold 2,000 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $234.24, for a total value of $468,480.00. Following the completion of the transaction, the director now owns 1,146,784 shares in the company, valued at $268,622,684.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Dwight A. Merriman sold 2,000 shares of MongoDB stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $234.24, for a total value of $468,480.00. Following the completion of the sale, the director now directly owns 1,146,784 shares in the company, valued at $268,622,684.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Hope F. Cochran sold 1,174 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $224.38, for a total transaction of $263,422.12. Following the transaction, the director now owns 13,011 shares in the company, valued at approximately $2,919,408.18. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,179 shares of company stock worth $7,368,989. Insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

Several large investors have recently modified their holdings of MDB. Norges Bank bought a new position in MongoDB in the fourth quarter valued at about $326,237,000. Jennison Associates LLC lifted its stake in shares of MongoDB by 14.3% in the 1st quarter. Jennison Associates LLC now owns 4,408,424 shares of the company’s stock worth $1,581,037,000 after purchasing an additional 551,567 shares during the period. Swedbank AB lifted its stake 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 period. Thrivent Financial for Lutherans boosted its holdings in shares of MongoDB by 1,098.1% in the second quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock worth $106,084,000 after buying an additional 388,979 shares during the last quarter. Finally, Axiom Investors LLC DE bought a new stake in MongoDB during the fourth quarter valued at approximately $153,990,000. Institutional investors own 89.29% of the company’s stock.

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.