Tigress Financial Raises MongoDB (NASDAQ:MDB) Price Target to $430.00

MongoDB (NASDAQ:MDB) had its price target raised by Tigress Financial from $400.00 to $430.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages also recently commented on MDB. Wedbush upgraded shares of MongoDB to a “strong-buy” rating in a research report on Thursday, October 17th. The Goldman Sachs Group lifted their price target on MongoDB from $340.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Rosenblatt Securities initiated coverage on MongoDB in a research note on Tuesday. They issued a “buy” rating and a $350.00 price objective on the stock. Barclays raised their price objective on MongoDB from $375.00 to $400.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Finally, UBS Group upped their price objective on MongoDB from $250.00 to $275.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, MongoDB currently has a consensus rating of “Moderate Buy” and a consensus price target of $366.14.

MongoDB Stock Performance

Shares of MDB opened at $255.00 on Wednesday. The stock’s fifty day moving average is $292.95 and its 200-day moving average is $267.40. The firm has a market capitalization of $18.84 billion, a price-to-earnings ratio of -93.07 and a beta of 1.17. MongoDB has a one year low of $212.74 and a one year high of $509.62.

MongoDB (NASDAQ:MDB) last released its earnings results on Monday, December 9th. The company reported $1.16 earnings per share (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 12.22% and a negative net margin of 10.46%. MongoDB’s revenue was up 22.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.96 earnings per share. Analysts forecast that MongoDB will post -2.29 EPS for the current fiscal year.

Insider Buying and Selling at MongoDB

In other MongoDB news, CAO Thomas Bull sold 154 shares of MongoDB stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total value of $39,462.50. Following the completion of the transaction, the chief accounting officer now directly owns 16,068 shares of the company’s stock, valued at $4,117,425. This trade represents a 0.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Michael Lawrence Gordon sold 5,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $267.85, for a total transaction of $1,339,250.00. Following the sale, the chief financial officer now owns 80,307 shares in the company, valued at $21,510,229.95. This represents a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,600 shares of company stock valued at $8,951,099 in the last three months. 3.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MongoDB

Several hedge funds and other institutional investors have recently made changes to their positions in MDB. Quarry LP lifted its stake in MongoDB by 2,580.0% in the second quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after purchasing an additional 129 shares during the last quarter. Hantz Financial Services Inc. bought a new stake in shares of MongoDB during the 2nd quarter worth approximately $35,000. Brooklyn Investment Group bought a new position in MongoDB in the 3rd quarter valued at $36,000. GAMMA Investing LLC increased its stake in MongoDB by 178.8% in the third quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock worth $39,000 after purchasing an additional 93 shares during the period. Finally, Continuum Advisory LLC lifted its position in shares of MongoDB by 621.1% during the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock worth $40,000 after purchasing an additional 118 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.