MongoDB (NASDAQ:MDB) Stock Price Up 4.9% – Still a Buy?

12 Oct 2024, 01:24 by Danessa Lincoln · The Markets Daily

MongoDB, Inc. (NASDAQ:MDB – Get Free Report)’s stock price shot up 4.9% during mid-day trading on Wednesday . The stock traded as high as $273.33 and last traded at $272.17. 667,942 shares were traded during mid-day trading, a decline of 54% from the average session volume of 1,446,957 shares. The stock had previously closed at $259.46.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Piper Sandler upped their price target on shares of MongoDB from $300.00 to $335.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Citigroup increased their price objective on MongoDB from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Needham & Company LLC increased their price objective on shares of MongoDB from $290.00 to $335.00 and gave the company a “buy” rating in a report on Friday, August 30th. Oppenheimer boosted their target price on MongoDB from $300.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Finally, Truist Financial lifted their price objective on MongoDB from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $337.96.

View Our Latest Stock Report on MDB

MongoDB Trading Up 0.1 %

The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.03 and a current ratio of 5.03. The company’s 50-day moving average price is $263.94 and its 200-day moving average price is $288.54. The firm has a market capitalization of $21.63 billion, a PE ratio of -96.97 and a beta of 1.15.

MongoDB (NASDAQ:MDB – Get Free Report) last posted its earnings results on Thursday, August 29th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.21. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. The firm had revenue of $478.11 million during the quarter, compared to analysts’ expectations of $465.03 million. During the same quarter in the previous year, the business earned ($0.63) earnings per share. The firm’s revenue was up 12.8% compared to the same quarter last year. On average, sell-side analysts expect that MongoDB, Inc. will post -2.44 earnings per share for the current year.

Insider Activity

In related news, CEO Dev Ittycheria sold 3,556 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total transaction of $911,225.00. Following the completion of the sale, the chief executive officer now owns 219,875 shares in the company, valued at $56,342,968.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Thomas Bull sold 154 shares of MongoDB stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total value of $39,462.50. Following the transaction, the chief accounting officer now directly owns 16,068 shares in the company, valued at $4,117,425. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Dev Ittycheria sold 3,556 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total transaction of $911,225.00. Following the completion of the transaction, the chief executive officer now directly owns 219,875 shares in the company, valued at $56,342,968.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,896 shares of company stock valued at $4,187,260. 3.60% of the stock is currently owned by company insiders.

Institutional Trading of MongoDB

Several hedge funds have recently modified their holdings of the business. Transcendent Capital Group LLC purchased a new stake in MongoDB during the fourth quarter worth about $25,000. MFA Wealth Advisors LLC purchased a new stake in shares of MongoDB during the 2nd quarter worth approximately $25,000. Sunbelt Securities Inc. boosted its stake in shares of MongoDB by 155.1% during the 1st quarter. Sunbelt Securities Inc. now owns 125 shares of the company’s stock worth $45,000 after acquiring an additional 76 shares in the last quarter. J.Safra Asset Management Corp grew its holdings in shares of MongoDB by 682.4% in the 2nd quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock worth $33,000 after acquiring an additional 116 shares during the period. Finally, Quarry LP increased its stake in MongoDB by 2,580.0% in the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock valued at $33,000 after purchasing an additional 129 shares in the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

About MongoDB

(Get Free Report)