MongoDB (NASDAQ:MDB) Given New $425.00 Price Target at Wells Fargo & Company

MongoDB (NASDAQ:MDB) had its price objective increased by equities research analysts at Wells Fargo & Company from $350.00 to $425.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 43.00% from the stock’s previous close.

Several other brokerages have also issued reports on MDB. Sanford C. Bernstein raised their target price on MongoDB from $358.00 to $360.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. DA Davidson upped their price target on MongoDB from $340.00 to $405.00 and gave the company a “buy” rating in a research report on Tuesday. Loop Capital upped their price objective on shares of MongoDB from $315.00 to $400.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Scotiabank upped their price target on shares of MongoDB from $295.00 to $350.00 and gave the company a “sector perform” rating in a research note on Tuesday. Finally, Needham & Company LLC lifted their price objective on shares of MongoDB from $335.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, MongoDB has a consensus rating of “Moderate Buy” and an average target price of $370.48.

MongoDB Stock Performance

Shares of NASDAQ MDB traded down $52.93 during trading hours on Tuesday, reaching $297.20. 6,511,828 shares of the stock were exchanged, compared to its average volume of 1,487,691. The stock’s fifty day simple moving average is $290.90 and its 200 day simple moving average is $269.20. The firm has a market capitalization of $21.95 billion, a price-to-earnings ratio of -98.41 and a beta of 1.17. MongoDB has a 52 week low of $212.74 and a 52 week high of $509.62. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.03 and a current ratio of 5.03.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.48. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. The company had revenue of $529.40 million during the quarter, compared to analysts’ expectations of $497.39 million. During the same quarter in the previous year, the firm earned $0.96 EPS. MongoDB’s revenue was up 22.3% on a year-over-year basis. Sell-side analysts predict that MongoDB will post -2.37 EPS for the current year.

Insider Activity

In other MongoDB news, CAO Thomas Bull sold 154 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total transaction of $39,462.50. Following the completion of the transaction, the chief accounting officer now directly owns 16,068 shares of the company’s stock, valued at approximately $4,117,425. This trade represents a 0.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Dwight A. Merriman sold 3,000 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total transaction of $768,750.00. Following the completion of the sale, the director now directly owns 1,131,006 shares in the company, valued at approximately $289,820,287.50. The trade was a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,600 shares of company stock worth $7,255,929. 3.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MDB. Cetera Advisors LLC raised its position in MongoDB by 106.9% in the 1st quarter. Cetera Advisors LLC now owns 1,558 shares of the company’s stock valued at $559,000 after purchasing an additional 805 shares during the last quarter. Diversified Trust Co lifted its position in shares of MongoDB by 16.6% during the second quarter. Diversified Trust Co now owns 4,794 shares of the company’s stock worth $1,198,000 after purchasing an additional 683 shares during the last quarter. Baader Bank Aktiengesellschaft increased its holdings in MongoDB by 66.4% in the second quarter. Baader Bank Aktiengesellschaft now owns 3,327 shares of the company’s stock valued at $826,000 after buying an additional 1,327 shares during the last quarter. J.Safra Asset Management Corp raised its stake in MongoDB by 682.4% during the second quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock valued at $33,000 after buying an additional 116 shares in the last quarter. Finally, Swedbank AB grew its position in shares of MongoDB by 156.3% in the 2nd quarter. Swedbank AB now owns 656,993 shares of the company’s stock worth $164,222,000 after acquiring an additional 400,705 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

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.