MongoDB (NASDAQ:MDB) PT Raised to $425.00 at Citigroup

MongoDB (NASDAQ:MDBGet Rating) had its target price increased by research analysts at Citigroup from $405.00 to $425.00 in a note issued to investors on Thursday, The Fly reports. Citigroup’s price objective would suggest a potential upside of 63.46% from the stock’s current price.

MDB has been the subject of a number of other research reports. Royal Bank of Canada initiated coverage on shares of MongoDB in a report on Tuesday, March 1st. They issued an “outperform” rating and a $505.00 target price for the company. UBS Group raised shares of MongoDB from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $345.00 to $450.00 in a research report on Friday, March 18th. Tigress Financial started coverage on MongoDB in a report on Friday, February 11th. They issued a “buy” rating and a $630.00 target price on the stock. Stifel Nicolaus decreased their target price on MongoDB from $425.00 to $340.00 in a research report on Thursday. Finally, Canaccord Genuity Group decreased their price objective on MongoDB from $400.00 to $300.00 in a report on Thursday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $440.56.

MongoDB stock opened at $260.00 on Thursday. The firm’s 50 day moving average price is $343.10 and its two-hundred day moving average price is $403.96. MongoDB has a twelve month low of $213.39 and a twelve month high of $590.00. The firm has a market cap of $17.57 billion, a PE ratio of -54.85 and a beta of 1.01. The company has a debt-to-equity ratio of 1.70, a quick ratio of 4.02 and a current ratio of 4.02.

MongoDB (NASDAQ:MDBGet Rating) last announced its earnings results on Wednesday, June 1st. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.34) by $1.54. MongoDB had a negative net margin of 35.12% and a negative return on equity of 66.70%. The business had revenue of $285.45 million during the quarter, compared to analysts’ expectations of $267.10 million. During the same quarter last year, the company posted ($0.98) EPS. The firm’s revenue for the quarter was up 57.1% on a year-over-year basis. Equities analysts anticipate that MongoDB will post -5.48 EPS for the current fiscal year.

In other MongoDB news, CEO Dev Ittycheria sold 35,000 shares of the company’s stock in a transaction that occurred on Friday, March 4th. The shares were sold at an average price of $309.78, for a total value of $10,842,300.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CRO Cedric Pech sold 309 shares of the firm’s stock in a transaction on Monday, April 4th. The shares were sold at an average price of $443.77, for a total transaction of $137,124.93. Following the completion of the transaction, the executive now owns 46,135 shares in the company, valued at $20,473,328.95. The disclosure for this sale can be found here. Insiders have sold a total of 122,809 shares of company stock valued at $43,079,955 over the last three months. Corporate insiders own 5.70% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. bought a new position in MongoDB during the 3rd quarter worth approximately $313,000. Macquarie Group Ltd. increased its holdings in shares of MongoDB by 5.5% in the third quarter. Macquarie Group Ltd. now owns 34,410 shares of the company’s stock valued at $16,225,000 after purchasing an additional 1,806 shares during the last quarter. Hsbc Holdings PLC increased its holdings in shares of MongoDB by 60.5% in the third quarter. Hsbc Holdings PLC now owns 14,689 shares of the company’s stock valued at $6,906,000 after purchasing an additional 5,538 shares during the last quarter. Schroder Investment Management Group lifted its position in MongoDB by 19.0% during the third quarter. Schroder Investment Management Group now owns 1,276 shares of the company’s stock worth $602,000 after purchasing an additional 204 shares during the period. Finally, Jump Financial LLC bought a new position in shares of MongoDB in the third quarter worth about $492,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

MongoDB Company Profile (Get Rating)

MongoDB, Inc provides general purpose database platform worldwide. The company offers MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.

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