Analysts Set MongoDB, Inc. (NASDAQ:MDB) Price Target at $288.91

MongoDB, Inc. (NASDAQ:MDB) has been assigned an average recommendation of “Moderate Buy” from the thirty-three research firms that are presently covering the company, Marketbeat.com reports. Nine equities research analysts have rated the stock with a hold recommendation, twenty-three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $286.88.

A number of analysts recently commented on MDB shares. Wedbush decreased their price target on MongoDB from $360.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Truist Financial decreased their price target on MongoDB from $300.00 to $275.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Morgan Stanley reduced their price objective on MongoDB from $315.00 to $235.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. The Goldman Sachs Group reduced their price objective on MongoDB from $390.00 to $335.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Finally, Macquarie reduced their price objective on MongoDB from $300.00 to $215.00 and set a “neutral” rating for the company in a report on Friday, March 7th.

Insider Buying and Selling at MongoDB

In other MongoDB news, CEO Dev Ittycheria sold 18,512 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total transaction of $3,207,389.12. Following the completion of the transaction, the chief executive officer now owns 268,948 shares of the company’s stock, valued at $46,597,930.48. This represents a 6.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Dwight A. Merriman sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $270.63, for a total value of $811,890.00. Following the transaction, the director now directly owns 1,109,006 shares of the company’s stock, valued at $300,130,293.78. The trade was a 0.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,203 shares of company stock valued at $4,660,459 in the last 90 days. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MDB. Vanguard Group Inc. increased its position in MongoDB by 6.6% during the 1st quarter. Vanguard Group Inc. now owns 7,809,768 shares of the company’s stock valued at $1,369,833,000 after buying an additional 481,023 shares in the last quarter. Franklin Resources Inc. increased its position in MongoDB by 9.7% during the 4th quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company’s stock valued at $478,398,000 after buying an additional 181,962 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in MongoDB by 11.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,271,444 shares of the company’s stock valued at $223,011,000 after buying an additional 129,451 shares in the last quarter. Geode Capital Management LLC increased its position in MongoDB by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 1,252,142 shares of the company’s stock valued at $290,987,000 after buying an additional 22,106 shares in the last quarter. Finally, Amundi increased its position in MongoDB by 53.0% during the 1st quarter. Amundi now owns 1,061,457 shares of the company’s stock valued at $173,378,000 after buying an additional 367,717 shares in the last quarter. Institutional investors own 89.29% of the company’s stock.

MongoDB Stock Up 0.5%

Shares of MongoDB stock opened at $189.36 on Friday. The company has a market cap of $15.37 billion, a PE ratio of -69.11 and a beta of 1.49. MongoDB has a 52 week low of $140.78 and a 52 week high of $370.00. The business has a 50 day moving average price of $174.52 and a 200-day moving average price of $234.21.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). The business had revenue of $548.40 million for the quarter, compared to analysts’ expectations of $519.65 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. During the same period in the previous year, the business posted $0.86 earnings per share. As a group, research analysts anticipate that MongoDB will post -1.78 EPS for the current year.

About MongoDB

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.