MongoDB (NASDAQ:MDB) Given New $450.00 Price Target at Barclays

MongoDB (NASDAQ:MDB) had its price objective hoisted by Barclays from $421.00 to $450.00 in a research note released on Friday morning, Marketbeat reports. Barclays currently has an overweight rating on the stock.

Several other analysts have also commented on MDB. Citigroup raised their price target on shares of MongoDB from $430.00 to $455.00 and gave the company a buy rating in a research report on Monday, August 28th. JMP Securities raised their price target on shares of MongoDB from $400.00 to $425.00 and gave the company an outperform rating in a research report on Monday, July 24th. Guggenheim lowered shares of MongoDB from a neutral rating to a sell rating and raised their price target for the company from $205.00 to $210.00 in a research report on Thursday, May 25th. They noted that the move was a valuation call. Sanford C. Bernstein raised their price target on shares of MongoDB from $257.00 to $424.00 in a research report on Monday, June 5th. Finally, The Goldman Sachs Group raised their price target on shares of MongoDB from $420.00 to $440.00 in a research report on Friday, June 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, MongoDB currently has an average rating of Moderate Buy and a consensus price target of $405.35.

MongoDB Trading Up 3.0 %

Shares of MongoDB stock opened at $392.88 on Friday. The company has a debt-to-equity ratio of 1.44, a current ratio of 4.19 and a quick ratio of 4.19. The firm has a fifty day moving average price of $389.98 and a 200 day moving average price of $304.08. MongoDB has a 1 year low of $135.15 and a 1 year high of $439.00. The stock has a market cap of $27.73 billion, a PE ratio of -84.13 and a beta of 1.13.

MongoDB (NASDAQ:MDB) last issued its earnings results on Thursday, June 1st. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.38. MongoDB had a negative net margin of 23.58% and a negative return on equity of 43.25%. The firm had revenue of $368.28 million during the quarter, compared to analysts’ expectations of $347.77 million. During the same quarter last year, the company posted ($1.15) earnings per share. The firm’s revenue was up 29.0% compared to the same quarter last year. Equities research analysts predict that MongoDB will post -2.8 earnings per share for the current year.

Insiders Place Their Bets

In other MongoDB news, Director Hope F. Cochran sold 2,174 shares of MongoDB stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $373.19, for a total transaction of $811,315.06. Following the transaction, the director now directly owns 8,200 shares of the company’s stock, valued at $3,060,158. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other MongoDB news, Director Hope F. Cochran sold 2,174 shares of MongoDB stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $373.19, for a total transaction of $811,315.06. Following the transaction, the director now directly owns 8,200 shares of the company’s stock, valued at $3,060,158. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dwight A. Merriman sold 1,000 shares of MongoDB stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $420.00, for a total transaction of $420,000.00. Following the transaction, the director now directly owns 1,213,159 shares in the company, valued at $509,526,780. The disclosure for this sale can be found here. Insiders have sold 76,551 shares of company stock valued at $31,143,942 over the last ninety days. Company insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On MongoDB

Large investors have recently made changes to their positions in the stock. GPS Wealth Strategies Group LLC acquired a new position in shares of MongoDB in the 2nd quarter worth approximately $26,000. KB Financial Partners LLC acquired a new stake in MongoDB during the 2nd quarter worth approximately $27,000. Capital Advisors Ltd. LLC lifted its holdings in MongoDB by 131.0% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 67 shares of the company’s stock worth $28,000 after buying an additional 38 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in MongoDB by 176.5% during the 2nd quarter. Parkside Financial Bank & Trust now owns 94 shares of the company’s stock worth $39,000 after buying an additional 60 shares in the last quarter. Finally, Coppell Advisory Solutions LLC acquired a new stake in MongoDB during the 2nd quarter worth approximately $43,000. 88.89% of the stock is currently owned by institutional investors and hedge funds.

About MongoDB

MongoDB, Inc provides general purpose database platform worldwide. The company offers 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-premise, 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.