MongoDB (NASDAQ:MDB) Stock Price Up 7.4% - What's Next?

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) was up 7.4% on Tuesday . The stock traded as high as $285.10 and last traded at $284.28. Approximately 819,510 shares were traded during mid-day trading, a decline of 43% from the average daily volume of 1,427,558 shares. The stock had previously closed at $264.58.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Oppenheimer upped their price target on shares of MongoDB from $350.00 to $400.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 10th. Guggenheim raised shares of MongoDB from a "neutral" rating to a "buy" rating and set a $300.00 price target for the company in a report on Monday, January 6th. Wedbush upgraded MongoDB to a "strong-buy" rating in a report on Thursday, October 17th. Robert W. Baird boosted their price objective on MongoDB from $380.00 to $390.00 and gave the stock an "outperform" rating in a report on Tuesday, December 10th. Finally, Needham & Company LLC upped their price target on shares of MongoDB from $335.00 to $415.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $361.00.

MongoDB Stock Up 0.7 %

The business's 50-day simple moving average is $274.45 and its two-hundred day simple moving average is $269.62. The stock has a market cap of $20.32 billion, a P/E ratio of -99.93 and a beta of 1.25.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its quarterly earnings results on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.48. The business had revenue of $529.40 million for the quarter, compared to analyst estimates of $497.39 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. MongoDB's revenue for the quarter was up 22.3% compared to the same quarter last year. During the same period last year, the company earned $0.96 EPS. Analysts anticipate that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Thomas Bull sold 169 shares of MongoDB stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total transaction of $39,561.21. Following the completion of the transaction, the chief accounting officer now directly owns 14,899 shares of the company's stock, valued at approximately $3,487,706.91. The trade was a 1.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Lawrence Gordon sold 5,000 shares of the firm'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 directly owns 80,307 shares of the company's stock, valued at approximately $21,510,229.95. The trade was a 5.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,491 shares of company stock valued at $11,554,190 in the last 90 days. Company insiders own 3.60% of the company's stock.

Hedge Funds Weigh In On MongoDB

A number of hedge funds and other institutional investors have recently modified their holdings of MDB. Nisa Investment Advisors LLC boosted its holdings in shares of MongoDB by 3.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the company's stock valued at $295,000 after buying an additional 40 shares in the last quarter. Hilltop National Bank raised its stake in MongoDB by 47.2% in the fourth quarter. Hilltop National Bank now owns 131 shares of the company's stock valued at $30,000 after buying an additional 42 shares during the last quarter. Avestar Capital LLC grew its stake in shares of MongoDB by 2.0% during the fourth quarter. Avestar Capital LLC now owns 2,165 shares of the company's stock worth $504,000 after acquiring an additional 42 shares during the last quarter. Tanager Wealth Management LLP raised its position in shares of MongoDB by 4.7% in the 3rd quarter. Tanager Wealth Management LLP now owns 957 shares of the company's stock valued at $259,000 after purchasing an additional 43 shares during the last quarter. Finally, Rakuten Securities Inc. grew its position in MongoDB by 16.5% during the 3rd quarter. Rakuten Securities Inc. now owns 332 shares of the company's stock worth $90,000 after purchasing an additional 47 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors.

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.