Barclays Boosts Mongodb (MDB) Price Target to $178.00

Mongodb (NASDAQ:MDB) had its price target lifted by Barclays from $143.00 to $178.00 in a research note issued to investors on Wednesday, BenzingaRatingsTable reports. The brokerage currently has an overweight rating on the stock.

Other equities research analysts have also issued reports about the company. Monness Crespi & Hardt increased their price target on Mongodb from $110.00 to $150.00 and gave the company a buy rating in a research report on Thursday, March 14th. Nomura set a $63.00 price target on Mongodb and gave the company a sell rating in a research report on Tuesday, February 26th. Needham & Company LLC reissued a buy rating and issued a $108.00 price target (up from $91.00) on shares of Mongodb in a research report on Thursday, February 28th. William Blair began coverage on Mongodb in a research report on Friday, March 22nd. They issued an outperform rating for the company. Finally, JMP Securities reissued a hold rating on shares of Mongodb in a research report on Wednesday, March 13th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $112.69.

Shares of NASDAQ:MDB traded down $1.12 during trading on Wednesday, reaching $145.74. 1,476,788 shares of the stock were exchanged, compared to its average volume of 1,188,565. The company has a quick ratio of 3.44, a current ratio of 3.44 and a debt-to-equity ratio of 0.82. Mongodb has a 1-year low of $41.94 and a 1-year high of $154.80. The firm has a market capitalization of $8.08 billion, a price-to-earnings ratio of -84.73 and a beta of -0.01.

Mongodb (NASDAQ:MDB) last issued its earnings results on Wednesday, March 13th. The company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.20. Mongodb had a negative return on equity of 49.90% and a negative net margin of 44.47%. The company had revenue of $83.10 million for the quarter, compared to analyst estimates of $74.02 million. During the same period in the prior year, the firm earned ($0.40) earnings per share. Mongodb’s revenue for the quarter was up 84.7% on a year-over-year basis. Equities research analysts anticipate that Mongodb will post -1.99 earnings per share for the current fiscal year.

In other Mongodb news, CEO Dev Ittycheria sold 19,600 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $100.94, for a total value of $1,978,424.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles M. Hazard, Jr. sold 2,017 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $141.28, for a total value of $284,961.76. The disclosure for this sale can be found here. Insiders sold a total of 204,925 shares of company stock valued at $26,066,704 in the last 90 days. Corporate insiders own 40.04% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. FMR LLC grew its stake in Mongodb by 12.5% in the 4th quarter. FMR LLC now owns 5,275,057 shares of the company’s stock valued at $441,732,000 after purchasing an additional 586,841 shares during the period. Morgan Stanley grew its stake in Mongodb by 1.1% in the 1st quarter. Morgan Stanley now owns 5,251,755 shares of the company’s stock valued at $772,112,000 after purchasing an additional 58,297 shares during the period. Oregon Public Employees Retirement Fund bought a new position in Mongodb in the 4th quarter valued at $33,000. Vanguard Group Inc. grew its stake in Mongodb by 3.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,683,561 shares of the company’s stock valued at $137,294,000 after purchasing an additional 58,398 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in Mongodb by 146.9% in the 1st quarter. JPMorgan Chase & Co. now owns 794,387 shares of the company’s stock valued at $116,790,000 after purchasing an additional 472,602 shares during the period. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Mongodb Company Profile

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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Analyst Recommendations for Mongodb (NASDAQ:MDB)

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