MongoDB (NASDAQ:MDB) Price Target Raised to $365.00 at BMO Capital Markets

MongoDB (NASDAQ:MDB) had its price objective upped by BMO Capital Markets from $315.00 to $365.00 in a research report released on Thursday morning, MarketBeat reports. BMO Capital Markets currently has an outperform rating on the stock.

Several other research firms have also commented on MDB. DA Davidson raised their price objective on shares of MongoDB from $275.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, August 27th. Wedbush raised their price objective on shares of MongoDB from $300.00 to $400.00 and gave the company an “outperform” rating in a research note on Monday. Macquarie raised their price objective on shares of MongoDB from $230.00 to $265.00 and gave the company a “neutral” rating in a research note on Wednesday, August 27th. Rosenblatt Securities reiterated a “buy” rating and issued a $290.00 price target on shares of MongoDB in a research note on Friday, August 22nd. Finally, UBS Group lifted their price target on shares of MongoDB from $240.00 to $310.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $332.69.

MongoDB Stock Performance

NASDAQ MDB opened at $316.30 on Thursday. The firm has a 50 day simple moving average of $255.16 and a 200-day simple moving average of $211.65. MongoDB has a one year low of $140.78 and a one year high of $370.00. The firm has a market cap of $25.73 billion, a price-to-earnings ratio of -322.76 and a beta of 1.49.

Insider Activity

In related news, CEO Dev Ittycheria sold 33,320 shares of MongoDB stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $301.29, for a total value of $10,038,982.80. Following the transaction, the chief executive officer directly owned 203,237 shares in the company, valued at $61,233,275.73. This trade represents a 14.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Thomas Bull sold 1,000 shares of MongoDB stock in a transaction on Monday, September 8th. The shares were sold at an average price of $326.25, for a total transaction of $326,250.00. Following the completion of the transaction, the chief accounting officer owned 11,598 shares in the company, valued at approximately $3,783,847.50. This trade represents a 7.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,556 shares of company stock valued at $16,056,341. Corporate insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On MongoDB

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Cloud Capital Management LLC purchased a new stake in shares of MongoDB during the 1st quarter worth $25,000. Hollencrest Capital Management purchased a new stake in shares of MongoDB during the 1st quarter worth $26,000. Cullen Frost Bankers Inc. boosted its position in shares of MongoDB by 315.8% during the 1st quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company’s stock worth $28,000 after purchasing an additional 120 shares in the last quarter. Montag A & Associates Inc. boosted its position in shares of MongoDB by 144.3% during the 2nd quarter. Montag A & Associates Inc. now owns 171 shares of the company’s stock worth $36,000 after purchasing an additional 101 shares in the last quarter. Finally, Promus Capital LLC purchased a new stake in shares of MongoDB during the 2nd quarter worth $36,000. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

MongoDB Company Profile

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.