Robert W. Baird Forecasts Strong Price Appreciation for MongoDB (NASDAQ:MDB) Stock

MongoDB (NASDAQ:MDB) had its price target boosted by equities research analysts at Robert W. Baird from $380.00 to $390.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s target price suggests a potential upside of 11.39% from the company’s current price.

A number of other research firms also recently issued reports on MDB. Wedbush raised MongoDB to a “strong-buy” rating in a research report on Thursday, October 17th. Bank of America lifted their price objective on MongoDB from $300.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, August 30th. JMP Securities reaffirmed a “market outperform” rating and set a $380.00 price objective on shares of MongoDB in a report on Friday, August 30th. Stifel Nicolaus lifted their target price on shares of MongoDB from $325.00 to $360.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $425.00 price objective on shares of MongoDB in a report on Tuesday. One analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $354.04.

MongoDB Trading Up 2.0 %

NASDAQ MDB opened at $350.13 on Tuesday. The company has a current ratio of 5.03, a quick ratio of 5.03 and a debt-to-equity ratio of 0.84. The business has a fifty day simple moving average of $290.90 and a 200 day simple moving average of $269.20. MongoDB has a 12 month low of $212.74 and a 12 month high of $509.62. The firm has a market capitalization of $25.86 billion, a P/E ratio of -115.94 and a beta of 1.17.

MongoDB (NASDAQ:MDB) last announced its earnings results on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.48. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. The firm had revenue of $529.40 million for the quarter, compared to the consensus estimate of $497.39 million. During the same quarter in the previous year, the business earned $0.96 EPS. The company’s revenue was up 22.3% compared to the same quarter last year. On average, analysts predict that MongoDB will post -2.37 EPS for the current fiscal year.

Insider Activity at MongoDB

In other news, CFO Michael Lawrence Gordon sold 5,000 shares of MongoDB stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $290.31, for a total value of $1,451,550.00. Following the transaction, the chief financial officer now owns 80,307 shares in the company, valued at approximately $23,313,925.17. The trade was a 5.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dwight A. Merriman sold 2,000 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $349.17, for a total value of $698,340.00. Following the sale, the director now owns 1,124,006 shares of the company’s stock, valued at $392,469,175.02. This represents a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,600 shares of company stock valued at $7,255,929 over the last 90 days. 3.60% of the stock is owned by insiders.

Institutional Trading of MongoDB

Several hedge funds and other institutional investors have recently bought and sold shares of MDB. Tidal Investments LLC grew its holdings in shares of MongoDB by 76.8% in the third quarter. Tidal Investments LLC now owns 7,859 shares of the company’s stock worth $2,125,000 after purchasing an additional 3,415 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in MongoDB during the 3rd quarter valued at $44,000. Virtu Financial LLC grew its holdings in MongoDB by 351.2% in the 3rd quarter. Virtu Financial LLC now owns 10,016 shares of the company’s stock worth $2,708,000 after acquiring an additional 7,796 shares during the last quarter. Teachers Retirement System of The State of Kentucky purchased a new position in shares of MongoDB in the third quarter valued at about $5,840,000. Finally, Toronto Dominion Bank raised its stake in shares of MongoDB by 21.9% during the third quarter. Toronto Dominion Bank now owns 9,462 shares of the company’s stock valued at $2,558,000 after acquiring an additional 1,699 shares during the last quarter. Institutional investors own 89.29% of the company’s stock.

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.