MongoDB (NASDAQ:MDB) Stock Price Expected to Rise, Barclays Analyst Says

MongoDB (NASDAQ:MDB) had its price objective increased by Barclays from $252.00 to $270.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 22.65% from the company’s current price.

Several other analysts also recently issued reports on MDB. Truist Financial reduced their price objective on MongoDB from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Citigroup reduced their target price on shares of MongoDB from $430.00 to $330.00 and set a “buy” rating on the stock in a report on Tuesday, April 1st. Bank of America decreased their price target on shares of MongoDB from $420.00 to $286.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Monness Crespi & Hardt upgraded shares of MongoDB from a “neutral” rating to a “buy” rating and set a $295.00 price target for the company in a report on Thursday. Finally, Wedbush reissued an “outperform” rating and set a $300.00 price objective on shares of MongoDB in a research note on Thursday. Eight analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $282.47.

MongoDB Trading Down 2.3%

Shares of NASDAQ MDB opened at $220.14 on Thursday. The stock has a market cap of $17.87 billion, a price-to-earnings ratio of -80.34 and a beta of 1.40. MongoDB has a 52 week low of $140.78 and a 52 week high of $370.00. The company’s 50-day moving average price is $176.52 and its 200 day moving average price is $229.93.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.35. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The company had revenue of $549.01 million for the quarter, compared to the consensus estimate of $527.49 million. During the same quarter in the prior year, the firm earned $0.51 earnings per share. The company’s revenue for the quarter was up 21.8% compared to the same quarter last year. As a group, research analysts expect that MongoDB will post -1.78 earnings per share for the current year.

Insider Activity at MongoDB

In other MongoDB news, CAO Thomas Bull sold 301 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $173.25, for a total value of $52,148.25. Following the completion of the sale, the chief accounting officer now owns 14,598 shares of the company’s stock, valued at $2,529,103.50. This trade represents a 2.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Hope F. Cochran sold 1,175 shares of MongoDB stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $174.69, for a total transaction of $205,260.75. Following the sale, the director now owns 19,333 shares in the company, valued at $3,377,281.77. This represents a 5.73% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,203 shares of company stock worth $3,848,569. 3.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MongoDB

A number of large investors have recently added to or reduced their stakes in MDB. HighTower Advisors LLC lifted its holdings in MongoDB by 2.0% in the 4th quarter. HighTower Advisors LLC now owns 18,773 shares of the company’s stock worth $4,371,000 after buying an additional 372 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of MongoDB by 68.0% during the fourth quarter. Jones Financial Companies Lllp now owns 1,020 shares of the company’s stock worth $237,000 after acquiring an additional 413 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of MongoDB by 56.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 370 shares of the company’s stock worth $87,000 after acquiring an additional 134 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its stake in shares of MongoDB by 12.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,168 shares of the company’s stock worth $272,000 after acquiring an additional 133 shares in the last quarter. Finally, Stanley Laman Group Ltd. purchased a new position in MongoDB in the fourth quarter valued at about $7,520,000. 89.29% of the stock is owned by institutional investors and hedge funds.

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.