MongoDB (NASDAQ:MDB) Given New $425.00 Price Target at Wells Fargo & Company

MongoDB (NASDAQ:MDB) had its target price hoisted by Wells Fargo & Company from $350.00 to $425.00 in a research note issued to investors on Tuesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other equities analysts also recently commented on MDB. KeyCorp boosted their target price on shares of MongoDB from $330.00 to $375.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. JMP Securities reiterated a “market outperform” rating and issued a $380.00 price objective on shares of MongoDB in a report on Friday, August 30th. Truist Financial reissued a “buy” rating and set a $400.00 target price (up previously from $320.00) on shares of MongoDB in a research report on Tuesday. Scotiabank increased their price target on shares of MongoDB from $295.00 to $350.00 and gave the company a “sector perform” rating in a research note on Tuesday. Finally, Citigroup boosted their price objective on shares of MongoDB from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $370.48.

MongoDB Price Performance

Shares of NASDAQ MDB opened at $290.90 on Tuesday. The stock’s 50-day moving average is $291.56 and its two-hundred day moving average is $268.79. 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 company has a market cap of $21.49 billion, a price-to-earnings ratio of -96.32 and a beta of 1.17. MongoDB has a 1-year low of $212.74 and a 1-year high of $509.62.

MongoDB (NASDAQ:MDB) last issued its earnings results on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.48. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The firm had revenue of $529.40 million for the quarter, compared to analysts’ expectations of $497.39 million. During the same quarter last year, the company earned $0.96 earnings per share. The firm’s revenue was up 22.3% compared to the same quarter last year. Analysts forecast that MongoDB will post -2.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other MongoDB news, CAO Thomas Bull sold 154 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total transaction of $39,462.50. Following the transaction, the chief accounting officer now owns 16,068 shares in the company, valued at approximately $4,117,425. The trade was a 0.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Dwight A. Merriman sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $349.17, for a total value of $698,340.00. Following the completion of the sale, the director now directly owns 1,124,006 shares of the company’s stock, valued at $392,469,175.02. This represents a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,600 shares of company stock worth $7,255,929. 3.60% of the stock is owned by insiders.

Institutional Investors Weigh In On MongoDB

Institutional investors have recently made changes to their positions in the stock. Tidal Investments LLC lifted its stake in shares of MongoDB by 76.8% in the third quarter. Tidal Investments LLC now owns 7,859 shares of the company’s stock valued at $2,125,000 after purchasing an additional 3,415 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in MongoDB during the third quarter worth about $44,000. Virtu Financial LLC increased its holdings in MongoDB by 351.2% in the third quarter. Virtu Financial LLC now owns 10,016 shares of the company’s stock valued at $2,708,000 after buying an additional 7,796 shares in the last quarter. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of MongoDB during the 3rd quarter worth approximately $5,840,000. Finally, Toronto Dominion Bank grew its holdings in shares of MongoDB by 21.9% in the 3rd quarter. Toronto Dominion Bank now owns 9,462 shares of the company’s stock worth $2,558,000 after acquiring an additional 1,699 shares during the period. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

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.