Mongodb (MDB) PT Raised to $94.00 at Citigroup

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Mongodb (NASDAQ:MDB) had its price target upped by investment analysts at Citigroup from $86.00 to $94.00 in a research note issued to investors on Thursday. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price objective would suggest a potential upside of 11.44% from the stock’s previous close.

Several other analysts have also weighed in on MDB. Morgan Stanley boosted their price objective on Mongodb from $41.00 to $66.00 and gave the company an “equal weight” rating in a report on Thursday, August 30th. Needham & Company LLC boosted their price objective on Mongodb from $57.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, September 4th. Nomura lowered Mongodb from a “neutral” rating to a “reduce” rating and boosted their price objective for the company from $43.00 to $63.00 in a report on Tuesday, October 2nd. They noted that the move was a valuation call. Zacks Investment Research raised Mongodb from a “sell” rating to a “hold” rating in a report on Thursday, November 1st. Finally, DA Davidson started coverage on Mongodb in a report on Tuesday, October 2nd. They issued a “neutral” rating and a $80.00 price objective for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $81.85.

NASDAQ:MDB opened at $84.35 on Thursday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 3.74 and a current ratio of 3.74. Mongodb has a one year low of $24.62 and a one year high of $93.23. The stock has a market capitalization of $4.74 billion, a P/E ratio of -48.48 and a beta of -0.64.

Mongodb (NASDAQ:MDB) last released its quarterly earnings results on Tuesday, December 4th. The company reported ($0.30) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.56) by $0.26. Mongodb had a negative return on equity of 55.21% and a negative net margin of 54.74%. The business had revenue of $65.00 million for the quarter, compared to analysts’ expectations of $60.26 million. During the same quarter in the previous year, the firm posted ($0.44) earnings per share. The company’s revenue was up 56.6% compared to the same quarter last year. As a group, equities research analysts predict that Mongodb will post -2.28 earnings per share for the current year.

In other news, CEO Dev Ittycheria sold 63,600 shares of the company’s stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $84.11, for a total transaction of $5,349,396.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael Lawrence Gordon sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $83.77, for a total value of $8,377,000.00. The disclosure for this sale can be found here. Insiders have sold 973,904 shares of company stock valued at $79,863,660 over the last ninety days. Corporate insiders own 40.04% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Rehmann Capital Advisory Group boosted its position in shares of Mongodb by 1,556.5% during the third quarter. Rehmann Capital Advisory Group now owns 762 shares of the company’s stock worth $62,000 after buying an additional 716 shares during the period. Truvestments Capital LLC acquired a new position in shares of Mongodb during the third quarter worth approximately $106,000. Belpointe Asset Management LLC acquired a new position in shares of Mongodb during the third quarter worth approximately $110,000. Partner Investment Management L.P. acquired a new position in shares of Mongodb during the third quarter worth approximately $133,000. Finally, Regis Management CO LLC acquired a new position in shares of Mongodb during the second quarter worth approximately $148,000. 50.44% of the stock is owned by institutional investors.

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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