Mongodb (MDB) Price Target Raised to $150.00 at Monness Crespi & Hardt

Mongodb (NASDAQ:MDB) had its price target raised by Monness Crespi & Hardt from $110.00 to $150.00 in a report published on Thursday. The firm currently has a buy rating on the stock.

Several other equities analysts also recently weighed in on the stock. Nomura set a $63.00 price target on shares of Mongodb and gave the stock a sell rating in a report on Tuesday, February 26th. Zacks Investment Research raised shares of Mongodb from a hold rating to a buy rating and set a $83.00 price objective on the stock in a research note on Friday, January 18th. Needham & Company LLC raised their price objective on shares of Mongodb to $97.00 and gave the stock a buy rating in a research note on Friday, December 14th. Citigroup raised their price objective on shares of Mongodb from $86.00 to $94.00 and gave the stock a neutral rating in a research note on Thursday, December 6th. Finally, Canaccord Genuity reaffirmed a buy rating and set a $95.00 price objective (up previously from $78.00) on shares of Mongodb in a research note on Thursday, December 6th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $107.08.

NASDAQ:MDB traded up $3.05 during midday trading on Thursday, hitting $133.99. The company’s stock had a trading volume of 52,035 shares, compared to its average volume of 1,363,871. Mongodb has a fifty-two week low of $32.35 and a fifty-two week high of $134.40. The company has a current ratio of 3.41, a quick ratio of 3.41 and a debt-to-equity ratio of 1.08. The company has a market cap of $5.62 billion, a PE ratio of -77.27 and a beta of 0.01.

Mongodb (NASDAQ:MDB) last issued its quarterly earnings results on Wednesday, March 13th. The company reported ($0.36) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.56) by $0.20. Mongodb had a negative net margin of 54.74% and a negative return on equity of 54.80%. The company had revenue of $83.10 million for the quarter, compared to the consensus estimate of $74.02 million. During the same quarter in the prior year, the company earned ($0.40) EPS. Mongodb’s quarterly revenue was up 84.7% on a year-over-year basis. Equities research analysts predict that Mongodb will post -2.23 earnings per share for the current fiscal year.

In other news, insider Thomas Bull sold 754 shares of the stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $81.36, for a total transaction of $61,345.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kevin P. Ryan sold 24,000 shares of the stock in a transaction that occurred on Thursday, January 17th. The shares were sold at an average price of $75.00, for a total value of $1,800,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 224,607 shares of company stock worth $20,225,910 in the last quarter. Insiders own 40.04% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Northern Trust Corp grew its stake in shares of Mongodb by 184.1% in the 2nd quarter. Northern Trust Corp now owns 55,895 shares of the company’s stock valued at $2,774,000 after purchasing an additional 36,223 shares during the period. Private Advisor Group LLC acquired a new position in shares of Mongodb in the 3rd quarter valued at $216,000. Wells Fargo & Company MN lifted its stake in shares of Mongodb by 1.4% in the 3rd quarter. Wells Fargo & Company MN now owns 739,290 shares of the company’s stock valued at $60,288,000 after purchasing an additional 10,157 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Mongodb in the 3rd quarter valued at $252,000. Finally, SG Americas Securities LLC acquired a new position in shares of Mongodb in the 3rd quarter valued at $423,000. Institutional investors own 64.66% of the company’s stock.

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.

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