MongoDB, Inc. (NASDAQ:MDB – Get Free Report) Director Dwight Merriman sold 10,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $297.99, for a total transaction of $2,979,900.00. Following the completion of the transaction, the director owned 993,316 shares in the company, valued at approximately $295,998,234.84. This trade represents a 1.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
MongoDB Price Performance
NASDAQ:MDB traded up $17.84 during midday trading on Monday, hitting $330.00. The company’s stock had a trading volume of 2,685,051 shares, compared to its average volume of 1,825,074. MongoDB, Inc. has a fifty-two week low of $182.43 and a fifty-two week high of $444.72. The firm’s 50 day moving average is $262.43 and its 200-day moving average is $335.74. The firm has a market cap of $26.52 billion, a P/E ratio of -375.00 and a beta of 1.48.
MongoDB (NASDAQ:MDB – Get Free Report) last issued its quarterly earnings results on Monday, March 2nd. The company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.18. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. The company had revenue of $695.07 million for the quarter, compared to the consensus estimate of $669.40 million. During the same quarter in the prior year, the company earned $1.28 EPS. MongoDB’s quarterly revenue was up 26.8% on a year-over-year basis. As a group, analysts forecast that MongoDB, Inc. will post -0.46 EPS for the current year.
Institutional Investors Weigh In On MongoDB
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on MDB. Canaccord Genuity Group cut their price target on shares of MongoDB from $455.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Wall Street Zen downgraded shares of MongoDB from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Barclays cut their price target on shares of MongoDB from $440.00 to $370.00 and set an “overweight” rating on the stock in a report on Tuesday, March 3rd. Rosenblatt Securities reiterated a “buy” rating and issued a $425.00 price target on shares of MongoDB in a report on Monday, March 2nd. Finally, Mizuho upgraded shares of MongoDB from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $290.00 to $325.00 in a report on Monday, March 23rd. Twenty-six research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $364.23.
View Our Latest Stock Analysis on MongoDB
About MongoDB
MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.
The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.
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