In a report released today, Ittai Kidron from Oppenheimer assigned a Buy rating to MongoDB (MDB), with a price target of $240.00. The company’s shares closed last Thursday at $220.04, close to its 52-week high of $243.92.
According to TipRanks.com, Kidron is a top 25 analyst with an average return of 33.8% and a 75.5% success rate. Kidron covers the Technology sector, focusing on stocks such as Hewlett Packard Enterprise, Zoom Video Communications, and Slack Technologies.
MongoDB has an analyst consensus of Moderate Buy, with a price target consensus of $189.40, representing a -17.1% downside. In a report issued on May 22, Stifel Nicolaus also maintained a Buy rating on the stock with a $225.00 price target.
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Based on MongoDB’s latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $124 million and GAAP net loss of $62.56 million. In comparison, last year the company earned revenue of $85.48 million and had a GAAP net loss of $22.19 million.
Based on the recent corporate insider activity of 102 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MDB in relation to earlier this year.
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MongoDB, Inc. engages in the development and provision of a general purpose database platform. Its products include MongoDB Enterprise Advanced, MongoDB Atlas, and Community Server. It also offers professional services including consulting and training. The company was founded by Eliot Horowitz, Dwight A. Merriman, Kevin P. Ryan, and Geir Magnusson Jr. in 2007 and is headquartered in New York, NY.
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