Oppenheimer Forecasts Strong Price Appreciation for MongoDB (NASDAQ:MDB) Stock

MongoDB (NASDAQ:MDB) had its price objective upped by Oppenheimer from $350.00 to $400.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price objective would suggest a potential upside of 30.29% from the company’s current price.

A number of other equities analysts also recently commented on the company. Truist Financial raised their price objective on MongoDB from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Piper Sandler reissued an “overweight” rating and issued a $425.00 price objective on shares of MongoDB in a research report on Tuesday. Bank of America boosted their price target on MongoDB from $300.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Scotiabank lifted their price objective 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, The Goldman Sachs Group raised their price target on shares of MongoDB from $340.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $364.28.

MongoDB Trading Down 12.3 %

MongoDB stock traded down $43.13 during trading on Tuesday, reaching $307.00. The company had a trading volume of 3,438,523 shares, compared to its average volume of 1,475,187. 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 quick ratio of 5.03 and a current ratio of 5.03. The stock’s 50 day moving average price is $290.90 and its two-hundred day moving average price is $269.20. The firm has a market capitalization of $22.68 billion, a price-to-earnings ratio of -101.66 and a beta of 1.17.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.48. The company had revenue of $529.40 million during the quarter, compared to analysts’ expectations of $497.39 million. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The business’s quarterly 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 EPS. As a group, equities analysts expect that MongoDB will post -2.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Michael Lawrence Gordon sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $290.31, for a total transaction of $1,451,550.00. Following the sale, the chief financial officer now owns 80,307 shares in the company, valued at $23,313,925.17. The trade was a 5.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dwight A. Merriman sold 2,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $349.17, for a total transaction of $698,340.00. Following the sale, the director now directly owns 1,124,006 shares in the company, valued at approximately $392,469,175.02. This trade represents a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,600 shares of company stock valued at $7,255,929 over the last three months. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

Institutional investors have recently bought and sold shares of the business. MFA Wealth Advisors LLC purchased a new stake in shares of MongoDB in the second quarter worth approximately $25,000. J.Safra Asset Management Corp lifted its position in MongoDB by 682.4% in the 2nd quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock worth $33,000 after buying an additional 116 shares in the last quarter. Quarry LP boosted its stake in shares of MongoDB by 2,580.0% during the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock valued at $33,000 after buying an additional 129 shares during the period. Brooklyn Investment Group purchased a new position in shares of MongoDB during the 3rd quarter valued at $36,000. Finally, Continuum Advisory LLC raised its holdings 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 acquiring an additional 118 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

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.