Wells Fargo & Company Raises MongoDB (NASDAQ:MDB) Price Target to $425.00

MongoDB (NASDAQ:MDB) had its price objective increased by Wells Fargo & Company from $350.00 to $425.00 in a report published on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts have also issued research reports about the company. Scotiabank upped their price target on MongoDB from $295.00 to $350.00 and gave the company a “sector perform” rating in a research report on Tuesday. KeyCorp upped their target price on MongoDB from $330.00 to $375.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. UBS Group raised their price target on MongoDB from $250.00 to $275.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Truist Financial reissued a “buy” rating and set a $400.00 price objective (up from $320.00) on shares of MongoDB in a research report on Tuesday. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $380.00 target price on shares of MongoDB in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $370.08.

MongoDB Stock Performance

NASDAQ:MDB opened at $288.61 on Tuesday. 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 has a fifty-two week low of $212.74 and a fifty-two week high of $509.62. The business has a 50 day moving average price of $293.13 and a 200-day moving average price of $269.12. The firm has a market cap of $21.32 billion, a PE ratio of -95.57 and a beta of 1.17.

MongoDB (NASDAQ:MDB) last announced its quarterly 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. The business had revenue of $529.40 million for 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%. The company’s revenue was up 22.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.96 EPS. Equities research analysts predict that MongoDB will post -2.37 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $768,750.00. Following the completion of the sale, the director now directly owns 1,131,006 shares in the company, valued at approximately $289,820,287.50. This trade represents a 0.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Thomas Bull sold 154 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total transaction of $39,462.50. Following the transaction, the chief accounting officer now owns 16,068 shares in the company, valued at $4,117,425. This represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety 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

A number of large investors have recently made changes to their positions in the stock. MFA Wealth Advisors LLC purchased a new stake in MongoDB in the second quarter worth approximately $25,000. J.Safra Asset Management Corp lifted its holdings in shares of MongoDB by 682.4% during the 2nd quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock valued at $33,000 after buying an additional 116 shares during the period. Quarry LP boosted its stake in shares of MongoDB by 2,580.0% in the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after buying an additional 129 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of MongoDB in the third quarter worth $36,000. Finally, Continuum Advisory LLC increased its position in MongoDB by 621.1% during the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after acquiring an additional 118 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors.

About MongoDB

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.