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

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Stifel Nicolaus lifted their price objective on shares of MongoDB from $325.00 to $360.00 and gave the company a "buy" rating in a report on Monday, December 9th. Guggenheim raised MongoDB from a "neutral" rating to a "buy" rating and set a $300.00 price objective on the stock in a research report on Monday, January 6th. Morgan Stanley lifted their target price on MongoDB from $340.00 to $350.00 and gave the company an "overweight" rating in a report on Tuesday, December 10th. Needham & Company LLC upped their price target on MongoDB from $335.00 to $415.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. Finally, Scotiabank decreased their price objective on MongoDB from $350.00 to $275.00 and set a "sector perform" rating for the company in a research note on Tuesday, January 21st. Two research analysts have rated the stock with a sell rating, four have given a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $361.00.

MongoDB Stock Performance

The company has a market capitalization of $20.02 billion, a PE ratio of -98.11 and a beta of 1.25. The business has a fifty day moving average price of $272.39 and a 200 day moving average price of $269.91.

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

Insider Activity

In other MongoDB news, CAO Thomas Bull sold 1,000 shares of MongoDB stock in a transaction 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 owns 15,068 shares of the company's stock, valued at $5,363,002.56. The trade was a 6.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Dwight A. Merriman sold 1,319 shares of MongoDB stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $285.92, for a total transaction of $377,128.48. Following the completion of the transaction, the director now directly owns 87,744 shares of the company's stock, valued at $25,087,764.48. This trade represents a 1.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 39,491 shares of company stock worth $10,745,480. 3.60% of the stock is currently owned by insiders.

Institutional Trading of MongoDB

A number of institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company increased its holdings in shares of MongoDB by 16.5% in the second quarter. The Manufacturers Life Insurance Company now owns 27,079 shares of the company's stock valued at $6,762,000 after buying an additional 3,836 shares in the last quarter. Quarry LP lifted its holdings in shares of MongoDB by 2,580.0% during the second quarter. Quarry LP now owns 134 shares of the company's stock valued at $33,000 after purchasing an additional 129 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its position in shares of MongoDB by 12.0% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 1,242 shares of the company's stock valued at $310,000 after purchasing an additional 133 shares during the period. Truist Financial Corp increased its stake in MongoDB by 15.9% in the 2nd quarter. Truist Financial Corp now owns 40,184 shares of the company's stock worth $10,044,000 after purchasing an additional 5,509 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in MongoDB during the 2nd quarter worth about $1,860,000. 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.