MongoDB (NASDAQ:MDB) had its price target raised to $335.00 at Piper Sandler

MongoDB (NASDAQ:MDB – Get a Free Report) had their target price boosted by equities researchers at Piper Sandler from $300.00 to $335.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 36.33% from the stock’s previous close.

Other analysts have recently issued reports on the company. Oppenheimer cut their price target on MongoDB from $480.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, May 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $290.00 target price on shares of MongoDB in a report on Thursday, June 13th. JMP Securities decreased their price target on MongoDB from $440.00 to $380.00 and set a “market outperform” rating for the company in a report on Friday, May 31st. Stifel Nicolaus cut their price target on MongoDB from $435.00 to $300.00 and set a “buy” rating for the company in a report on Friday, May 31st. Finally, Guggenheim raised MongoDB from a “sell” rating to a “neutral” rating in a report on Monday, June 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $354.26, according to MarketBeat.

Check out our latest report on MongoDB

MongoDB trading up 4.4%

MDB opened at $245.72 on Friday. MongoDB has a 12-month low of $212.74 and a 12-month high of $509.62. The stock has a market cap of $18.02 billion, a price-to-earnings ratio of -87.44 and a beta of 1.13. The company has a debt-to-equity ratio of 0.90, a current ratio of 4.93, and a quick ratio of 4.93. The company has a fifty day moving average price of $246.96 and a 200 day moving average price of $317.33.

MongoDB (NASDAQ:MDB – Get Your Free Report ) last posted its earnings results on Thursday, May 30th. The company reported ($0.80) EPS for the quarter, hitting the consensus estimate of ($0.80). MongoDB had a negative return on equity of 14.88% and a negative net margin of 11.50%. The firm had revenue of $450.56 million during the quarter, compared to analysts’ expectations of $438.44 million. sell-side analysts expect that MongoDB will post -2.67 earnings per share for the current fiscal year.

Insiders place their bets

In other MongoDB news, Director Dwight A. Merriman sold 2,000 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $234.24, for a total transaction of $468,480.00. Following the transaction, the director now owns 1,146,784 shares of the company’s stock, valued at approximately $268,622,684.16. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. In related news, Director John Dennis Mcmahon sold 10,000 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $228.00, for a total value of $2,280,000.00. Following the completion of the sale, the director now directly owns 20,020 shares in the company, valued at approximately $4,564,560. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC’s website. Also, Director Dwight A. Merriman sold 2,000 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $234.24, for a total value of $468,480.00. Following the sale, the director now owns 1,146,784 shares of the company’s stock, valued at $268,622,684.16. The disclosure for this sale can be found here. Insiders sold a total of 30,179 shares of company stock valued at $7,368,989 over the last quarter. 3.60% of shares are currently owned by company insiders.

Institutional trading of MongoDB

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in MongoDB by 1.0% in the first quarter. Vanguard Group Inc. now owns 6,910,761 shares of the company’s stock worth $2,478,475,000 after buying an additional 68,348 shares during the last quarter. Jennison Associates LLC raised its stake in MongoDB by 14.3% in the first quarter. Jennison Associates LLC now owns 4,408,424 shares of the company’s stock worth $1,581,037,000 after buying an additional 551,567 shares during the last quarter. Norges Bank acquired a new position in MongoDB in the fourth quarter valued at about $326,237,000. Swedbank AB raised its stake in MongoDB by 156.3% in the second quarter. Swedbank AB now owns 656,993 shares of the company’s stock worth $164,222,000 after buying an additional 400,705 shares during the last quarter. Finally, Champlain Investment Partners LLC raised its stake in MongoDB by 22.4% in the first quarter. Champlain Investment Partners LLC now owns 550,684 shares of the company’s stock worth $197,497,000 after buying an additional 100,725 shares during the last quarter. 89.29% of shares are currently owned by institutional investors and hedge funds.

About MongoDB

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MongoDB, Inc., together with its subsidiaries, provides a 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 that can be run in the cloud, on-premises or in a hybrid environment; and Community Server, a free version of the database that includes the functionality developers need to get started with MongoDB.

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