MongoDB (NASDAQ:MDB) Given New $430.00 Price Target at Tigress Financial

MongoDB (NASDAQ:MDB - Get Free Report) had its price target upped by equities research analysts at Tigress Financial from $400.00 to $430.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Tigress Financial's price objective would suggest a potential upside of 70.18% from the stock's previous close.

Other equities research analysts have also recently issued reports about the stock. The Goldman Sachs Group boosted their price target on shares of MongoDB from $340.00 to $390.00 and gave the stock a "buy" rating in a research report on Tuesday, December 10th. Macquarie began coverage on shares of MongoDB in a research note on Thursday, December 12th. They set a "neutral" rating and a $300.00 target price for the company. Rosenblatt Securities started coverage on shares of MongoDB in a report on Tuesday. They set a "buy" rating and a $350.00 target price for the company. Sanford C. Bernstein upped their price target on MongoDB from $358.00 to $360.00 and gave the company an "outperform" rating in a report on Friday, August 30th. Finally, Bank of America raised their price objective on MongoDB from $300.00 to $350.00 and gave the stock a "buy" rating in a research note on Friday, August 30th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $366.14.

MongoDB Price Performance

Shares of MongoDB stock traded down $12.43 on Wednesday, hitting $252.67. The company had a trading volume of 2,562,866 shares, compared to its average volume of 1,545,696. MongoDB has a 52 week low of $212.74 and a 52 week high of $509.62. The company has a market cap of $18.66 billion, a PE ratio of -92.21 and a beta of 1.17. The business has a 50-day simple moving average of $293.40 and a 200-day simple moving average of $267.50.

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

Insider Buying and Selling at MongoDB

In other news, CFO Michael Lawrence Gordon sold 5,000 shares of the company's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $267.85, for a total transaction of $1,339,250.00. Following the completion of the sale, the chief financial officer now owns 80,307 shares in the company, valued at approximately $21,510,229.95. This represents a 5.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Thomas Bull sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $355.92, for a total value of $355,920.00. Following the completion of the transaction, the chief accounting officer now directly owns 15,068 shares in the company, valued at $5,363,002.56. The trade was a 6.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,600 shares of company stock worth $8,951,099 over the last ninety days. 3.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Jennison Associates LLC boosted its position in shares of MongoDB by 23.6% in the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company's stock valued at $838,632,000 after acquiring an additional 592,038 shares during the period. Thrivent Financial for Lutherans boosted its holdings in MongoDB by 1,098.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company's stock valued at $106,084,000 after purchasing an additional 388,979 shares during the period. Point72 Asset Management L.P. acquired a new stake in MongoDB in the 2nd quarter worth $52,131,000. Avala Global LP bought a new position in shares of MongoDB during the 3rd quarter worth about $47,960,000. Finally, Renaissance Technologies LLC raised its position in shares of MongoDB by 828.9% during the second quarter. Renaissance Technologies LLC now owns 183,000 shares of the company's stock valued at $45,743,000 after buying an additional 163,300 shares during the last quarter. 89.29% of the stock is currently 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.