Mongodb (NASDAQ:MDB) had its price target upped by research analysts at Citigroup from $56.00 to $86.00 in a research report issued to clients and investors on Tuesday, September 11th. The firm currently has a “neutral” rating on the stock. Citigroup’s price target points to a potential upside of 18.21% from the stock’s previous close.
MDB has been the subject of a number of other reports. Morgan Stanley raised their price objective on shares of Mongodb from $41.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 30th. Needham & Company LLC raised their price objective on shares of Mongodb from $57.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, September 4th. Nomura raised their price objective on shares of Mongodb and gave the stock a “neutral” rating in a research note on Tuesday, June 5th. Zacks Investment Research cut shares of Mongodb from a “hold” rating to a “sell” rating in a research note on Sunday, July 15th. Finally, Rosenblatt Securities initiated coverage on shares of Mongodb in a research note on Monday, July 9th. They set a “buy” rating for the company. Two research analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. Mongodb currently has a consensus rating of “Hold” and a consensus price target of $70.62.
Shares of MDB stock traded down $1.20 during midday trading on Tuesday, reaching $72.75. 829,343 shares of the company traded hands, compared to its average volume of 750,680. Mongodb has a 1-year low of $24.62 and a 1-year high of $85.25. The company has a current ratio of 3.74, a quick ratio of 3.74 and a debt-to-equity ratio of 1.01. The company has a market cap of $4.26 billion and a price-to-earnings ratio of -41.81.
Mongodb (NASDAQ:MDB) last posted its quarterly earnings results on Wednesday, September 5th. The company reported ($0.41) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.45) by $0.04. Mongodb had a negative net margin of 57.74% and a negative return on equity of 52.67%. The company had revenue of $57.50 million during the quarter, compared to the consensus estimate of $51.75 million. Mongodb’s revenue was up 61.5% on a year-over-year basis. Sell-side analysts forecast that Mongodb will post -2.24 earnings per share for the current fiscal year.
In other Mongodb news, Director Kevin P. Ryan sold 24,000 shares of Mongodb stock in a transaction that occurred on Wednesday, July 11th. The shares were sold at an average price of $52.94, for a total value of $1,270,560.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dev Ittycheria sold 21,617 shares of the business’s stock in a transaction on Tuesday, October 2nd. The shares were sold at an average price of $79.54, for a total transaction of $1,719,416.18. The disclosure for this sale can be found here. Insiders sold a total of 316,683 shares of company stock valued at $24,403,165 over the last ninety days. 40.04% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Regis Management CO LLC purchased a new stake in shares of Mongodb during the 2nd quarter valued at $148,000. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Mongodb by 409.4% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 3,301 shares of the company’s stock valued at $164,000 after buying an additional 2,653 shares during the period. Benjamin F. Edwards & Company Inc. grew its stake in shares of Mongodb by 36.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,050 shares of the company’s stock valued at $201,000 after buying an additional 1,075 shares during the period. Stratos Wealth Partners LTD. purchased a new stake in shares of Mongodb during the 1st quarter valued at $177,000. Finally, Tower Bridge Advisors purchased a new stake in shares of Mongodb during the 2nd quarter valued at $229,000. 41.90% of the stock is owned by institutional investors.
Mongodb Company Profile
MongoDB, Inc operates as a general purpose database platform worldwide. The company offers MongoDB Enterprise Advanced, a subscription package for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; MongoDB Atlas, a cloud-hosted 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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