MongoDB (NASDAQ:MDB) Price Target Raised to $400.00

by · The Markets Daily

MongoDB (NASDAQ:MDB – Free Report) had its price objective upped by Guggenheim from $310.00 to $400.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

MDB has been the subject of several other reports. Monness Crespi & Hardt increased their target price on shares of MongoDB from $295.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, August 27th. Wedbush reissued an “outperform” rating and issued a $300.00 target price on shares of MongoDB in a report on Wednesday, August 27th. Truist Financial increased their target price on shares of MongoDB from $275.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, August 27th. Scotiabank increased their target price on shares of MongoDB from $230.00 to $280.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 27th. Finally, Sanford C. Bernstein upped their price target on MongoDB from $319.00 to $338.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 27th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $316.29.

Get Our Latest Research Report on MDB

MongoDB Trading Down 3.7%

MongoDB stock opened at $315.38 on Monday. The firm has a 50 day moving average of $253.02 and a 200 day moving average of $211.26. The firm has a market capitalization of $25.66 billion, a price-to-earnings ratio of -321.82 and a beta of 1.49. MongoDB has a 12-month low of $140.78 and a 12-month high of $370.00.

Insider Transactions at MongoDB

In related news, Director Charles M. Hazard, Jr. sold 833 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $310.00, for a total value of $258,230.00. Following the completion of the sale, the director directly owned 47,366 shares in the company, valued at $14,683,460. This trade represents a 1.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dwight A. Merriman sold 1,000 shares of the firm’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $245.00, for a total value of $245,000.00. Following the completion of the sale, the director owned 1,104,316 shares of the company’s stock, valued at approximately $270,557,420. This represents a 0.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 58,556 shares of company stock valued at $16,056,341 over the last quarter. 3.10% of the stock is owned by insiders.

Institutional Trading of MongoDB

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Main Management ETF Advisors LLC boosted its holdings in MongoDB by 1.7% in the second quarter. Main Management ETF Advisors LLC now owns 3,665 shares of the company’s stock valued at $770,000 after acquiring an additional 60 shares during the last quarter. Carnegie Investment Counsel boosted its holdings in MongoDB by 3.6% in the second quarter. Carnegie Investment Counsel now owns 1,803 shares of the company’s stock valued at $379,000 after acquiring an additional 62 shares during the last quarter. Handelsbanken Fonder AB boosted its holdings in MongoDB by 0.4% in the first quarter. Handelsbanken Fonder AB now owns 14,816 shares of the company’s stock valued at $2,599,000 after acquiring an additional 65 shares during the last quarter. New York Life Investment Management LLC boosted its holdings in MongoDB by 6.2% in the second quarter. New York Life Investment Management LLC now owns 1,236 shares of the company’s stock valued at $260,000 after acquiring an additional 72 shares during the last quarter. Finally, Wedbush Securities Inc. boosted its holdings in MongoDB by 2.6% in the first quarter. Wedbush Securities Inc. now owns 3,022 shares of the company’s stock valued at $530,000 after acquiring an additional 77 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

MongoDB Company Profile

(Get Free Report)

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.

Featured Articles