Barclays Forecasts Strong Price Appreciation for MongoDB (NASDAQ:MDB) Stock

MongoDB (NASDAQ:MDB - Get Free Report) had its target price boosted by analysts at Barclays from $290.00 to $345.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Barclays's target price indicates a potential upside of 23.32% from the stock's previous close.

Several other brokerages have also recently issued reports on MDB. Oppenheimer increased their target price on shares of MongoDB from $300.00 to $350.00 and gave the stock an "outperform" rating in a report on Friday, August 30th. Needham & Company LLC upped their price objective on shares of MongoDB from $290.00 to $335.00 and gave the company a "buy" rating in a report on Friday, August 30th. DA Davidson boosted their target price on shares of MongoDB from $330.00 to $340.00 and gave the company a "buy" rating in a research report on Friday, October 11th. Stifel Nicolaus increased their price target on MongoDB from $300.00 to $325.00 and gave the stock a "buy" rating in a research report on Friday, August 30th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $380.00 target price on shares of MongoDB in a report on Friday, August 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $336.54.

MongoDB Stock Performance

MDB traded down $11.82 during mid-day trading on Friday, reaching $279.77. 1,763,926 shares of the company traded hands, compared to its average volume of 1,432,002. MongoDB has a 52-week low of $212.74 and a 52-week high of $509.62. The company's fifty day moving average price is $278.14 and its 200-day moving average price is $275.57. The company has a quick ratio of 5.03, a current ratio of 5.03 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $20.67 billion, a P/E ratio of -92.64 and a beta of 1.15.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.49 by $0.21. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The business had revenue of $478.11 million for the quarter, compared to analysts' expectations of $465.03 million. During the same quarter in the previous year, the company earned ($0.63) EPS. The business's quarterly revenue was up 12.8% compared to the same quarter last year. On average, sell-side analysts expect that MongoDB will post -2.39 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Thomas Bull sold 154 shares of the business's stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $39,462.50. Following the completion of the transaction, the chief accounting officer now directly owns 16,068 shares of the company's stock, valued at $4,117,425. The trade was a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Dwight A. Merriman sold 1,000 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $290.40, for a total value of $290,400.00. Following the sale, the director now directly owns 1,138,006 shares in the company, valued at approximately $330,476,942.40. The trade was a 0.09 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,281 shares of company stock worth $6,657,121. Corporate insiders own 3.60% of the company's stock.

Institutional Trading of MongoDB

A number of hedge funds have recently added to or reduced their stakes in MDB. M&T Bank Corp lifted its position in MongoDB by 9.0% during the third quarter. M&T Bank Corp now owns 3,043 shares of the company's stock valued at $823,000 after buying an additional 251 shares in the last quarter. Continuum Advisory LLC raised its stake in shares of MongoDB by 621.1% during the third quarter. Continuum Advisory LLC now owns 137 shares of the company's stock valued at $40,000 after purchasing an additional 118 shares during the period. Public Employees Retirement System of Ohio increased its stake in MongoDB by 5.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 32,344 shares of the company's stock worth $8,744,000 after buying an additional 1,681 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in MongoDB by 9.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 26,229 shares of the company's stock valued at $7,091,000 after buying an additional 2,341 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of MongoDB during the third quarter valued at about $2,336,000. 89.29% of the stock is owned by institutional investors and hedge funds.

About MongoDB

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.