MongoDB (NASDAQ:MDB) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

MongoDB (NASDAQ:MDB) had its price objective hoisted by stock analysts at Royal Bank of Canada from $350.00 to $400.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 34.59% from the company’s current price.

Several other research analysts have also recently commented on the stock. Barclays raised their target price on shares of MongoDB from $375.00 to $400.00 and gave the stock an “overweight” rating in a report on Tuesday. Loop Capital raised 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. Stifel Nicolaus increased their target price on MongoDB from $325.00 to $360.00 and gave the company a “buy” rating in a report on Monday. The Goldman Sachs Group raised their target price on MongoDB from $340.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Oppenheimer upped their price target on MongoDB from $300.00 to $350.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $372.88.

MongoDB Price Performance

NASDAQ MDB opened at $297.20 on Tuesday. MongoDB has a 1 year low of $212.74 and a 1 year high of $509.62. The business’s fifty day moving average is $292.42 and its two-hundred day moving average is $268.98. The stock has a market capitalization of $21.95 billion, a P/E ratio of -98.41 and a beta of 1.17. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.03 and a current ratio of 5.03.

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

Insider Activity at MongoDB

In other MongoDB news, CRO Cedric Pech sold 302 shares of the company’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 $77,387.50. Following the completion of the sale, the executive now owns 33,440 shares of the company’s stock, valued at $8,569,000. This represents a 0.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael Lawrence Gordon sold 5,000 shares of MongoDB 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 completion of the transaction, the chief financial officer now directly owns 80,307 shares in the company, valued at approximately $23,313,925.17. This represents a 5.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,600 shares of company stock valued at $7,611,849. Insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

Large investors have recently modified their holdings of the company. Jennison Associates LLC raised its holdings in MongoDB by 23.6% in the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock worth $838,632,000 after acquiring an additional 592,038 shares during the period. Swedbank AB grew its position in shares of MongoDB by 156.3% in the second quarter. Swedbank AB now owns 656,993 shares of the company’s stock valued at $164,222,000 after purchasing an additional 400,705 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in shares of MongoDB by 1,098.1% in the second quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock worth $106,084,000 after purchasing an additional 388,979 shares during the period. Point72 Asset Management L.P. bought a new position in shares of MongoDB in the second quarter worth about $52,131,000. Finally, Avala Global LP acquired a new position in shares of MongoDB during the 3rd quarter worth about $47,960,000. 89.29% of the stock is owned by 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.