Mongodb (MDB) Given New $125.00 Price Target at Canaccord Genuity

Mongodb (NASDAQ:MDB) had its target price lifted by Canaccord Genuity from $95.00 to $125.00 in a research report report published on Thursday, MarketBeat reports. The firm currently has a buy rating on the stock.

MDB has been the subject of several other research reports. Zacks Investment Research lowered shares of Mongodb from a buy rating to a hold rating in a research report on Saturday, January 19th. KeyCorp raised their price objective on shares of Mongodb from $100.00 to $150.00 and gave the company an overweight rating in a research report on Thursday. Nomura set a $63.00 price objective on shares of Mongodb and gave the company a sell rating in a research report on Tuesday, February 26th. Finally, Monness Crespi & Hardt raised their price objective on shares of Mongodb from $90.00 to $110.00 and gave the company a buy rating in a research report on Thursday, December 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $107.08.

MDB traded up $3.31 on Thursday, reaching $134.25. The company had a trading volume of 53,466 shares, compared to its average volume of 1,363,871. The firm has a market capitalization of $5.62 billion, a PE ratio of -76.51 and a beta of 0.01. The company has a quick ratio of 3.41, a current ratio of 3.41 and a debt-to-equity ratio of 1.08. Mongodb has a one year low of $32.35 and a one year high of $134.40.

Mongodb (NASDAQ:MDB) last announced its earnings results on Wednesday, March 13th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.56) by $0.20. The firm had revenue of $83.10 million during the quarter, compared to analyst estimates of $74.02 million. Mongodb had a negative net margin of 54.74% and a negative return on equity of 54.80%. Mongodb’s revenue was up 84.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.40) EPS. On average, equities analysts expect that Mongodb will post -2.23 EPS for the current year.

In other Mongodb news, insider Meagen Eisenberg sold 50,625 shares of the company’s stock in a transaction dated Wednesday, December 19th. The shares were sold at an average price of $88.06, for a total transaction of $4,458,037.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kevin P. Ryan sold 24,000 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $104.30, for a total transaction of $2,503,200.00. The disclosure for this sale can be found here. Insiders have sold 224,607 shares of company stock valued at $20,225,910 over the last ninety days. Insiders own 40.04% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Pearl River Capital LLC purchased a new stake in shares of Mongodb in the fourth quarter worth approximately $25,000. Quantamental Technologies LLC purchased a new stake in shares of Mongodb in the fourth quarter worth approximately $33,000. PNC Financial Services Group Inc. purchased a new stake in shares of Mongodb in the fourth quarter worth approximately $34,000. TCI Wealth Advisors Inc. lifted its position in shares of Mongodb by 17,133.3% in the fourth quarter. TCI Wealth Advisors Inc. now owns 517 shares of the company’s stock worth $43,000 after purchasing an additional 514 shares in the last quarter. Finally, Rehmann Capital Advisory Group lifted its position in shares of Mongodb by 1,556.5% in the third quarter. Rehmann Capital Advisory Group now owns 762 shares of the company’s stock worth $62,000 after purchasing an additional 716 shares in the last quarter. 64.66% of the stock is owned by institutional investors and hedge funds.

About Mongodb

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.

Further Reading: Capital Gains

Analyst Recommendations for Mongodb (NASDAQ:MDB)

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