MongoDB (NASDAQ:MDB) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

MongoDB (NASDAQ:MDB) had its price target lifted by investment analysts at Royal Bank of Canada from $350.00 to $400.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 27.18% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Oppenheimer raised their price objective on MongoDB from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Truist Financial lifted their target price on MongoDB from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, August 30th. DA Davidson lifted their target price on MongoDB from $330.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Loop Capital lifted their target price on MongoDB from $315.00 to $400.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Finally, Barclays lifted their target price on MongoDB from $375.00 to $400.00 and gave the stock an “overweight” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $359.68.

MongoDB Price Performance

MongoDB stock traded down $35.62 during mid-day trading on Tuesday, reaching $314.51. 1,812,283 shares of the company were exchanged, compared to its average volume of 1,469,447. The company has a fifty day simple moving average of $290.90 and a 200-day simple moving average of $269.20. 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 firm has a market cap of $23.23 billion, a PE ratio of -104.14 and a beta of 1.17.

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

Insider Activity at MongoDB

In other MongoDB news, CRO Cedric Pech sold 302 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total transaction of $77,387.50. Following the sale, the executive now owns 33,440 shares in the company, valued at $8,569,000. This represents a 0.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $768,750.00. Following the sale, the director now owns 1,131,006 shares in the company, valued at approximately $289,820,287.50. This represents a 0.26 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,600 shares of company stock worth $7,255,929. Insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

Institutional investors and hedge funds have recently made changes to their positions in the business. Cetera Advisors LLC raised its position in MongoDB by 106.9% during the first quarter. Cetera Advisors LLC now owns 1,558 shares of the company’s stock valued at $559,000 after purchasing an additional 805 shares in the last quarter. Diversified Trust Co grew its stake in shares of MongoDB by 16.6% in the second quarter. Diversified Trust Co now owns 4,794 shares of the company’s stock worth $1,198,000 after purchasing an additional 683 shares during the last quarter. Baader Bank Aktiengesellschaft grew its stake in shares of MongoDB by 66.4% in the second quarter. Baader Bank Aktiengesellschaft now owns 3,327 shares of the company’s stock worth $826,000 after purchasing an additional 1,327 shares during the last quarter. J.Safra Asset Management Corp grew its stake in shares of MongoDB by 682.4% in the second quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock worth $33,000 after purchasing an additional 116 shares during the last quarter. Finally, Swedbank AB grew its stake in shares of MongoDB by 156.3% in the second 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. Hedge funds and other 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.