MongoDB (NASDAQ:MDB) Given New $360.00 Price Target at BMO Capital Markets

MongoDB (NASDAQ:MDB) had its price objective raised by BMO Capital Markets from $285.00 to $360.00 in a research report released on Friday morning, MarketBeat.com reports. The brokerage currently has an outperform rating on the stock.

A number of other research analysts have also recently commented on MDB. Truist Financial cut their price target on shares of MongoDB from $500.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Piper Sandler dropped their price objective on MongoDB from $490.00 to $330.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 3rd. Guggenheim reaffirmed a “buy” rating and set a $475.00 price objective on shares of MongoDB in a research report on Tuesday, April 14th. Stifel Nicolaus dropped their price objective on MongoDB from $450.00 to $330.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Finally, Scotiabank raised MongoDB from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the company from $275.00 to $310.00 in a research report on Thursday, March 5th. Twenty-six research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $364.23.

MongoDB Stock Performance

NASDAQ:MDB opened at $312.16 on Friday. The stock’s fifty day moving average is $262.43 and its 200 day moving average is $335.77. MongoDB has a fifty-two week low of $182.43 and a fifty-two week high of $444.72. The firm has a market capitalization of $25.09 billion, a PE ratio of -354.73 and a beta of 1.48.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Monday, March 2nd. The company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.18. The company had revenue of $695.07 million for the quarter, compared to analyst estimates of $669.40 million. MongoDB had a negative return on equity of 1.03% and a negative net margin of 2.89%.MongoDB’s quarterly revenue was up 26.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.28 EPS. Equities analysts forecast that MongoDB will post -0.46 EPS for the current year.

Insider Activity

In other MongoDB news, Director Hope F. Cochran sold 1,566 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $249.33, for a total value of $390,450.78. Following the completion of the sale, the director owned 24,093 shares of the company’s stock, valued at approximately $6,007,107.69. This trade represents a 6.10% decrease in their ownership of the stock. The sale 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 firm’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $290.06, for a total value of $580,120.00. Following the completion of the transaction, the director owned 1,003,316 shares of the company’s stock, valued at approximately $291,021,838.96. The trade was a 0.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 15,566 shares of company stock valued at $3,875,011. Corporate insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Central Pacific Bank Trust Division purchased a new position in MongoDB during the fourth quarter valued at approximately $28,000. Cornerstone Planning Group LLC raised its position in MongoDB by 1,220.0% during the fourth 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 purchased a new position in MongoDB during the fourth quarter valued at approximately $33,000. Root Financial Partners LLC raised its position in MongoDB by 58.2% during the fourth quarter. Root Financial Partners LLC now owns 87 shares of the company’s stock valued at $37,000 after acquiring an additional 32 shares in the last quarter. Finally, Global Trust Asset Management LLC purchased a new position in MongoDB during the fourth quarter valued at approximately $38,000. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

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.