MongoDB (NASDAQ:MDB) Stock Price Expected to Rise, Cantor Fitzgerald Analyst Says

MongoDB (NASDAQ:MDB) had its price objective increased by investment analysts at Cantor Fitzgerald from $416.00 to $540.00 in a report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price would indicate a potential upside of 20.91% from the stock’s current price.

MDB has been the subject of several other research reports. Stifel Nicolaus set a $475.00 price target on MongoDB in a report on Tuesday, August 18th. Wedbush increased their price objective on shares of MongoDB from $380.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. Scotiabank restated an “outperform” rating on shares of MongoDB in a research note on Friday, May 29th. Citigroup reaffirmed an “outperform” rating on shares of MongoDB in a report on Wednesday, August 19th. Finally, Monness Crespi & Hardt increased their price target on shares of MongoDB from $370.00 to $415.00 and gave the company a “buy” rating in a report on Friday, May 29th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, MongoDB presently has a consensus rating of “Moderate Buy” and a consensus price target of $457.19.

MongoDB Price Performance

Shares of NASDAQ MDB opened at $446.62 on Monday. The business’s 50 day moving average price is $364.96 and its two-hundred day moving average price is $321.24. The company has a market cap of $35.92 billion, a PE ratio of -1,207.08, a price-to-earnings-growth ratio of 3,172.71 and a beta of 1.55. MongoDB has a twelve month low of $215.68 and a twelve month high of $473.10.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Thursday, May 28th. The company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.13. The company had revenue of $687.62 million during the quarter, compared to analysts’ expectations of $664.53 million. MongoDB had a negative return on equity of 1.39% and a negative net margin of 1.12%.The business’s revenue was up 25.2% on a year-over-year basis. During the same period last year, the firm posted $1.00 earnings per share. As a group, research analysts anticipate that MongoDB will post 0.01 EPS for the current fiscal year.

Insider Activity at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 6,000 shares of MongoDB stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $451.75, for a total value of $2,710,500.00. Following the completion of the sale, the director owned 452,896 shares in the company, valued at $204,595,768. The trade was a 1.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Roelof Botha sold 44,050 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $398.07, for a total transaction of $17,534,983.50. Following the completion of the sale, the director directly owned 150,550 shares of the company’s stock, valued at $59,929,438.50. This represents a 22.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 124,746 shares of company stock valued at $48,960,038. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MongoDB

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Cornerstone Planning Group LLC raised its holdings in MongoDB by 1,220.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 66 shares of the company’s stock valued at $27,000 after acquiring an additional 61 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of MongoDB in the fourth quarter worth $33,000. Root Financial Partners LLC raised its stake in MongoDB by 58.2% in the fourth quarter. Root Financial Partners LLC now owns 87 shares of the company’s stock valued at $37,000 after purchasing an additional 32 shares in the last quarter. Smallwood Wealth Investment Management LLC bought a new stake in MongoDB during the second quarter worth about $34,000. Finally, NBH Bank bought a new stake in MongoDB during the second quarter worth about $34,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

MongoDB Company Profile

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.