Mongodb (MDB) PT Raised to $85.00

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Mongodb (NASDAQ:MDB) had its price target lifted by Needham & Company LLC from $57.00 to $85.00 in a report issued on Tuesday, Marketbeat reports. They currently have a buy rating on the stock.

Other analysts have also issued research reports about the company. Canaccord Genuity restated a buy rating and issued a $54.00 price objective (up previously from $45.00) on shares of Mongodb in a report on Thursday, June 7th. They noted that the move was a valuation call. Monness Crespi & Hardt upped their price objective on Mongodb from $51.00 to $60.00 and gave the company a buy rating in a report on Thursday, June 7th. KeyCorp upped their price objective on Mongodb from $50.00 to $62.00 and gave the company an overweight rating in a report on Thursday, June 7th. Stifel Nicolaus upped their price objective on Mongodb from $47.00 to $53.00 and gave the company a buy rating in a report on Thursday, June 7th. Finally, Citigroup assumed coverage on Mongodb in a report on Thursday, June 28th. They issued a neutral rating and a $56.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $63.50.

Shares of MDB stock opened at $79.94 on Tuesday. Mongodb has a 1 year low of $24.62 and a 1 year high of $81.93. The firm has a market cap of $3.98 billion and a price-to-earnings ratio of -45.94.

Mongodb (NASDAQ:MDB) last announced its quarterly earnings results on Wednesday, September 5th. The company reported ($0.41) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.45) by $0.04. The company had revenue of $57.50 million during the quarter, compared to analyst estimates of $51.75 million. Mongodb had a negative return on equity of 53.73% and a negative net margin of 57.74%. The company’s revenue for the quarter was up 61.5% compared to the same quarter last year. sell-side analysts expect that Mongodb will post -2.22 earnings per share for the current fiscal year.

In related news, Director Kevin P. Ryan sold 24,000 shares of the company’s stock in a transaction on Monday, June 18th. The stock was sold at an average price of $58.72, for a total transaction of $1,409,280.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Meagen Eisenberg sold 82,500 shares of the company’s stock in a transaction on Monday, June 18th. The shares were sold at an average price of $58.72, for a total value of $4,844,400.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 234,139 shares of company stock valued at $14,223,178. 40.04% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the stock. Whale Rock Capital Management LLC raised its position in Mongodb by 587.8% during the second quarter. Whale Rock Capital Management LLC now owns 3,830,271 shares of the company’s stock valued at $190,096,000 after buying an additional 3,273,409 shares during the period. FMR LLC raised its position in Mongodb by 7,986.7% during the second quarter. FMR LLC now owns 2,268,485 shares of the company’s stock valued at $112,585,000 after buying an additional 2,240,433 shares during the period. Gilder Gagnon Howe & Co. LLC raised its position in Mongodb by 2.2% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,464,148 shares of the company’s stock valued at $72,666,000 after buying an additional 31,340 shares during the period. BlackRock Inc. raised its position in Mongodb by 268.3% during the first quarter. BlackRock Inc. now owns 1,246,117 shares of the company’s stock valued at $54,081,000 after buying an additional 907,784 shares during the period. Finally, Scge Management L.P. raised its position in Mongodb by 26.6% during the second quarter. Scge Management L.P. now owns 833,247 shares of the company’s stock valued at $41,354,000 after buying an additional 175,000 shares during the period. 43.21% of the stock is currently owned by hedge funds and other institutional investors.

About Mongodb

MongoDB, Inc operates as a general purpose database platform worldwide. The company offers MongoDB Enterprise Advanced, a subscription package for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; MongoDB Atlas, a cloud-hosted database-as-a-service solution; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.

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