MongoDB (NASDAQ:MDB) Given New $430.00 Price Target at Citigroup

MongoDB (NASDAQ:MDB) had its target price boosted by Citigroup from $400.00 to $430.00 in a research report released on Monday,Benzinga reports. Citigroup currently has a buy rating on the stock.

MDB has been the topic of a number of other research reports. Sanford C. Bernstein upped their target price on shares of MongoDB from $358.00 to $360.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. DA Davidson upped their price objective on shares of MongoDB from $340.00 to $405.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Wells Fargo & Company lifted their target price on shares of MongoDB from $350.00 to $425.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Needham & Company LLC upped their price target on MongoDB from $335.00 to $415.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, Canaccord Genuity Group lifted their price objective on MongoDB from $325.00 to $385.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, MongoDB currently has an average rating of “Moderate Buy” and an average price target of $366.14.

MongoDB Price Performance

MongoDB stock opened at $252.67 on Monday. The firm has a 50 day simple moving average of $292.95 and a 200-day simple moving average of $267.40. The stock has a market cap of $18.66 billion, a price-to-earnings ratio of -92.21 and a beta of 1.17. MongoDB has a 1-year low of $212.74 and a 1-year high of $509.62.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.48. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company had revenue of $529.40 million during the quarter, compared to analyst estimates of $497.39 million. During the same period in the prior year, the business posted $0.96 earnings per share. The firm’s revenue for the quarter was up 22.3% compared to the same quarter last year. Equities analysts expect that MongoDB will post -2.29 earnings per share for the current fiscal year.

Insider Transactions at MongoDB

In other news, CFO Michael Lawrence Gordon sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $267.85, for a total transaction of $1,339,250.00. Following the transaction, the chief financial officer now directly owns 80,307 shares in the company, valued at approximately $21,510,229.95. This trade represents a 5.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Thomas Bull sold 1,000 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $355.92, for a total transaction of $355,920.00. Following the completion of the sale, the chief accounting officer now owns 15,068 shares of the company’s stock, valued at approximately $5,363,002.56. This trade represents a 6.22 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,600 shares of company stock worth $8,951,099. Corporate insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

A number of hedge funds and other institutional investors have recently made changes to their positions in MDB. MFA Wealth Advisors LLC acquired a new position in MongoDB in the 2nd quarter valued at $25,000. Quarry LP increased its stake in shares of MongoDB by 2,580.0% during the second quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after acquiring an additional 129 shares during the period. Hantz Financial Services Inc. acquired a new position in shares of MongoDB during the second quarter worth about $35,000. Brooklyn Investment Group purchased a new position in MongoDB during the third quarter worth about $36,000. Finally, GAMMA Investing LLC lifted its position in MongoDB by 178.8% in the third quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock valued at $39,000 after purchasing an additional 93 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.

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.