Citigroup Issues Positive Forecast for MongoDB (NASDAQ:MDB) Stock Price

MongoDB (NASDAQ:MDB - Get Free Report) had its target price hoisted by equities researchers at Citigroup from $400.00 to $430.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Citigroup's price target would suggest a potential upside of 61.88% from the company's previous close.

Other equities research analysts also recently issued reports about the company. Robert W. Baird boosted their target price on MongoDB from $380.00 to $390.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 10th. The Goldman Sachs Group upped their price objective on MongoDB from $340.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. DA Davidson raised their target price on shares of MongoDB from $340.00 to $405.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. Royal Bank of Canada upped their price target on shares of MongoDB from $350.00 to $400.00 and gave the company an "outperform" rating in a research note on Tuesday, December 10th. Finally, Piper Sandler reiterated an "overweight" rating and set a $425.00 price objective on shares of MongoDB in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, MongoDB presently has a consensus rating of "Moderate Buy" and a consensus target price of $365.63.

MongoDB Price Performance

Shares of NASDAQ:MDB traded down $1.56 during mid-day trading on Monday, reaching $265.63. 3,018,273 shares of the company traded hands, compared to its average volume of 1,540,498. MongoDB has a 52 week low of $212.74 and a 52 week high of $509.62. The firm has a market cap of $19.62 billion, a PE ratio of -97.69 and a beta of 1.17. The company's 50 day moving average price is $293.17 and its 200-day moving average price is $267.61.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly earnings data on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.68 by $0.48. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The firm had revenue of $529.40 million during the quarter, compared to analysts' expectations of $497.39 million. During the same period in the prior year, the company posted $0.96 earnings per share. The company's revenue for the quarter was up 22.3% compared to the same quarter last year. On average, research analysts predict that MongoDB will post -2.29 earnings per share for the current fiscal year.

Insider Activity at MongoDB

In related news, CAO Thomas Bull sold 154 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were 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. This trade represents a 0.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Cedric Pech sold 302 shares of the business's stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total transaction of $77,387.50. Following the sale, the executive now directly owns 33,440 shares in the company, valued at approximately $8,569,000. This represents a 0.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,600 shares of company stock worth $7,611,849. Company insiders own 3.60% of the company's stock.

Institutional Investors Weigh In On MongoDB

A number of institutional investors and hedge funds have recently modified their holdings of MDB. Nisa Investment Advisors LLC grew its position in MongoDB by 3.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the company's stock worth $295,000 after purchasing an additional 40 shares during the period. Taylor Frigon Capital Management LLC boosted its stake in shares of MongoDB by 0.4% in the second quarter. Taylor Frigon Capital Management LLC now owns 9,903 shares of the company's stock worth $2,475,000 after buying an additional 42 shares during the last quarter. Tanager Wealth Management LLP grew its holdings in MongoDB by 4.7% during the third quarter. Tanager Wealth Management LLP now owns 957 shares of the company's stock worth $259,000 after acquiring an additional 43 shares during the period. Fifth Third Bancorp raised its position in MongoDB by 7.6% during the second quarter. Fifth Third Bancorp now owns 620 shares of the company's stock valued at $155,000 after acquiring an additional 44 shares in the last quarter. Finally, Rakuten Securities Inc. lifted its holdings in MongoDB by 16.5% in the third quarter. Rakuten Securities Inc. now owns 332 shares of the company's stock valued at $90,000 after acquiring an additional 47 shares during the period. Institutional investors and hedge funds own 89.29% of the company's stock.

MongoDB Company Profile

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.