MongoDB, Inc. (NASDAQ:MDB) Receives $386.83 Consensus PT from Brokerages

Brian Burns / September 23,2022

MongoDB, Inc. (NASDAQ:MDB – Get Rating) has been assigned an average recommendation of “Moderate Buy” from the nineteen research firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and seventeen have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $386.83.

MDB has been the subject of several analyst reports. Canaccord Genuity Group increased their target price on shares of MongoDB from $300.00 to $360.00 and gave the company a “buy” rating in a report on Thursday, September 1st. Oppenheimer decreased their price objective on shares of MongoDB from $490.00 to $400.00 and set an “outperform” rating for the company in a report on Thursday, June 2nd. Piper Sandler decreased their price objective on shares of MongoDB from $375.00 to $350.00 and set an “overweight” rating for the company in a report on Thursday, September 1st. Barclays decreased their price objective on shares of MongoDB from $438.00 to $360.00 and set an “overweight” rating for the company in a report on Thursday, September 1st. Finally, Citigroup cut their target price on shares of MongoDB from $450.00 to $445.00 and set a “buy” rating for the company in a research report on Thursday, September 1st.

Insiders Place Their Bets

In related news, CEO Dev Ittycheria sold 16,991 shares of MongoDB stock in a transaction on Friday, September 9th. The shares were sold at an average price of $250.66, for a total value of $4,258,964.06. Following the transaction, the chief executive officer now directly owns 199,753 shares of the company’s stock, valued at $50,070,086.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Dev Ittycheria sold 16,991 shares of MongoDB stock in a transaction on Friday, September 9th. The shares were sold at an average price of $250.66, for a total value of $4,258,964.06. Following the transaction, the chief executive officer now directly owns 199,753 shares of the company’s stock, valued at $50,070,086.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Dwight A. Merriman sold 629 shares of MongoDB stock in a transaction on Tuesday, June 28th. The stock was sold at an average price of $292.64, for a total transaction of $184,070.56. Following the completion of the transaction, the director now directly owns 1,322,755 shares in the company, valued at $387,091,023.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,789 shares of company stock valued at $18,925,825. 5.70% of the stock is currently owned by corporate insiders.

Institutional Trading of MongoDB

Large investors have recently added to or reduced their stakes in the stock. Royal London Asset Management Ltd. boosted its holdings in shares of MongoDB by 4.8% during the 2nd quarter. Royal London Asset Management Ltd. now owns 23,722 shares of the company’s stock valued at $6,158,000 after buying an additional 1,078 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of MongoDB by 8.0% during the 2nd quarter. Legal & General Group Plc now owns 395,501 shares of the company’s stock valued at $102,633,000 after buying an additional 29,421 shares in the last quarter. ExodusPoint Capital Management LP bought a new stake in shares of MongoDB during the 2nd quarter valued at $17,081,000. IMA Wealth Inc. bought a new stake in shares of MongoDB during the 2nd quarter valued at $675,000. Finally, Infini Capital Management Ltd bought a new stake in shares of MongoDB during the 2nd quarter valued at $441,000. Institutional investors own 89.85% of the company’s stock.

MongoDB Stock Performance

MDB opened at $194.73 on Friday. The company has a current ratio of 4.02, a quick ratio of 4.02 and a debt-to-equity ratio of 1.70. The company’s fifty day moving average price is $299.65 and its two-hundred day moving average price is $314.70. MongoDB has a 1-year low of $189.24 and a 1-year high of $590.00. The company has a market cap of $13.38 billion, a price-to-earnings ratio of -36.33 and a beta of 0.95.

MongoDB (NASDAQ:MDB – Get Rating) last released its quarterly earnings data on Wednesday, August 31st. The company reported ($1.69) earnings per share for the quarter, missing the consensus estimate of ($1.52) by ($0.17). MongoDB had a negative return on equity of 52.05% and a negative net margin of 33.43%. The business had revenue of $303.66 million for the quarter, compared to analyst estimates of $282.31 million. During the same quarter in the previous year, the company posted ($1.15) EPS. The business’s quarterly revenue was up 52.8% on a year-over-year basis. On average, analysts expect that MongoDB will post -5.36 EPS for the current fiscal year.

MongoDB Company Profile

MongoDB, Inc provides general purpose database platform worldwide. The company offers MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.

 

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