MongoDB (NASDAQ:MDB) Given New $350.00 Price Target at Scotiabank

MongoDB (NASDAQ:MDB) had its target price boosted by Scotiabank from $295.00 to $350.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a sector perform rating on the stock.

Other equities research analysts also recently issued research reports about the company. Mizuho boosted their price target on MongoDB from $275.00 to $320.00 and gave the company a “neutral” rating in a research report on Tuesday. Truist Financial increased their target price on shares of MongoDB from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $350.00 price target on shares of MongoDB in a research report on Friday, August 30th. Loop Capital boosted their price objective on shares of MongoDB from $315.00 to $400.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Finally, KeyCorp raised their target price on shares of MongoDB from $330.00 to $375.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $370.48.

MongoDB Trading Down 16.9 %

NASDAQ MDB opened at $290.90 on Tuesday. The company has a market cap of $21.49 billion, a P/E ratio of -96.32 and a beta of 1.17. 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 current ratio of 5.03 and a quick ratio of 5.03. The company has a 50-day moving average of $291.56 and a 200-day moving average of $268.79.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.68 by $0.48. The firm had revenue of $529.40 million during the quarter, compared to analyst estimates of $497.39 million. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. MongoDB’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.96 earnings per share. As a group, equities analysts predict that MongoDB will post -2.37 earnings per share for the current year.

Insider Activity

In other MongoDB news, CAO Thomas Bull sold 154 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total transaction of $39,462.50. Following the completion of the sale, the chief accounting officer now owns 16,068 shares in the company, valued at $4,117,425. The trade was a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Dwight A. Merriman sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total transaction of $768,750.00. Following the completion of the transaction, the director now owns 1,131,006 shares in the company, valued at approximately $289,820,287.50. The trade was a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,600 shares of company stock worth $7,255,929. 3.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MongoDB

Several institutional investors and hedge funds have recently bought and sold shares of MDB. Tidal Investments LLC boosted its stake in 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 acquiring an additional 3,415 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in MongoDB during the 3rd quarter valued at approximately $44,000. Virtu Financial LLC grew its stake in MongoDB by 351.2% during the 3rd quarter. Virtu Financial LLC now owns 10,016 shares of the company’s stock worth $2,708,000 after buying an additional 7,796 shares during the last quarter. Teachers Retirement System of The State of Kentucky acquired a new stake in MongoDB in the third quarter worth $5,840,000. Finally, Toronto Dominion Bank lifted its stake in MongoDB by 21.9% in the third quarter. Toronto Dominion Bank now owns 9,462 shares of the company’s stock valued at $2,558,000 after buying an additional 1,699 shares during the last quarter. Institutional investors and hedge funds 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.