Barclays Increases Mongodb (MDB) Price Target to $47.00

Mongodb (NASDAQ:MDB) had its price target raised by Barclays from $45.00 to $47.00 in a report issued on Thursday, MarketBeat.com reports. The brokerage currently has an overweight rating on the stock.

Several other brokerages also recently commented on MDB. Zacks Investment Research downgraded shares of Mongodb from a hold rating to a sell rating in a research note on Wednesday, February 14th. ValuEngine raised shares of Mongodb from a sell rating to a hold rating in a research note on Sunday, December 31st. Morgan Stanley dropped their price objective on shares of Mongodb from $33.00 to $32.00 and set an equal weight rating for the company in a research note on Tuesday, January 30th. Canaccord Genuity reissued a buy rating and issued a $45.00 price objective (up previously from $35.00) on shares of Mongodb in a research note on Wednesday, March 14th. Finally, Nomura initiated coverage on shares of Mongodb in a research note on Tuesday, January 23rd. They issued a neutral rating and a $30.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of Hold and an average price target of $37.78.

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NASDAQ:MDB traded down $2.14 on Thursday, hitting $40.86. The company had a trading volume of 180,083 shares, compared to its average volume of 392,343. The company has a market cap of $2,146.40 and a price-to-earnings ratio of -24.71. Mongodb has a 52 week low of $24.62 and a 52 week high of $46.26.

Mongodb (NASDAQ:MDB) last issued its quarterly earnings data on Tuesday, March 13th. The company reported ($0.40) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.43) by $0.03. The company had revenue of $45.00 million during the quarter, compared to the consensus estimate of $42.60 million. Mongodb’s revenue for the quarter was up 50.5% on a year-over-year basis. equities analysts predict that Mongodb will post -1.63 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the company. Thompson Davis & CO. Inc. bought a new position in shares of Mongodb during the fourth quarter valued at $103,000. Brighton Jones LLC bought a new position in shares of Mongodb during the fourth quarter valued at $214,000. Wolverine Trading LLC bought a new position in shares of Mongodb during the fourth quarter valued at $295,000. Bamco Inc. NY bought a new position in shares of Mongodb during the fourth quarter valued at $297,000. Finally, Wolverine Asset Management LLC bought a new position in shares of Mongodb during the fourth quarter valued at $445,000. 26.80% of the stock is owned by hedge funds and other institutional investors.

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Mongodb Company Profile

MongoDB, Inc is a modern, general purpose database platform. Its platform is designed to run applications at scale across a broad range of use cases in the cloud, on-premise or in a hybrid environment. Its primary subscription package is MongoDB Enterprise Advanced, which includes its proprietary database server, security, enterprise management capabilities, its graphical user interface, analytics integrations and technical support.

Analyst Recommendations for Mongodb (NASDAQ:MDB)

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