Brokerages Set MongoDB, Inc. (NASDAQ:MDB) PT at $361.97

Shares of MongoDB, Inc. (NASDAQ:MDB) have earned an average recommendation of “Moderate Buy” from the thirty-six ratings firms that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and twenty-six have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $363.5806.

A number of equities analysts recently commented on the stock. The Goldman Sachs Group lowered their target price on shares of MongoDB from $475.00 to $320.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. Mizuho upgraded shares of MongoDB from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $290.00 to $325.00 in a research note on Monday, March 23rd. Royal Bank Of Canada lowered their target price on shares of MongoDB from $500.00 to $395.00 and set an “outperform” rating for the company in a research note on Tuesday, March 3rd. Monness Crespi & Hardt lowered their target price on shares of MongoDB from $475.00 to $370.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Finally, Zacks Research downgraded shares of MongoDB from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 31st.

MongoDB Stock Up 4.8%

MongoDB stock opened at $308.72 on Friday. The firm has a market cap of $24.81 billion, a PE ratio of -350.82 and a beta of 1.48. MongoDB has a 52-week low of $182.43 and a 52-week high of $444.72. The company’s 50 day moving average is $260.58 and its two-hundred day moving average is $336.34.

MongoDB (NASDAQ:MDB) last released its earnings results on Monday, March 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.18. The company had revenue of $695.07 million for the quarter, compared to analyst estimates of $669.40 million. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. The firm’s quarterly revenue was up 26.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.28 EPS. On average, equities research analysts anticipate that MongoDB will post -0.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Hope F. Cochran sold 1,566 shares of the company’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $249.33, for a total value of $390,450.78. Following the completion of the transaction, the director owned 24,093 shares in the company, valued at approximately $6,007,107.69. This represents a 6.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Dwight A. Merriman sold 8,000 shares of the company’s stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $236.89, for a total transaction of $1,895,120.00. Following the completion of the transaction, the director owned 1,005,316 shares of the company’s stock, valued at approximately $238,149,307.24. The trade was a 0.79% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 15,566 shares of company stock valued at $3,875,011. Insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Cramer Rosenthal Mcglynn LLC boosted its holdings in shares of MongoDB by 897.7% in the 3rd quarter. Cramer Rosenthal Mcglynn LLC now owns 57,795 shares of the company’s stock valued at $17,938,000 after buying an additional 52,002 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in MongoDB by 1,277.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,219 shares of the company’s stock worth $5,655,000 after purchasing an additional 16,896 shares during the period. Penserra Capital Management LLC boosted its stake in MongoDB by 42.1% during the 3rd quarter. Penserra Capital Management LLC now owns 135,036 shares of the company’s stock worth $41,910,000 after purchasing an additional 39,978 shares during the period. Pinegrove Venture Partners LLC acquired a new stake in MongoDB during the 3rd quarter worth $1,032,000. Finally, Kinetic Partners Management LP boosted its stake in MongoDB by 27.2% during the 3rd quarter. Kinetic Partners Management LP now owns 195,769 shares of the company’s stock worth $60,763,000 after purchasing an additional 41,810 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

About MongoDB

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.