It is Poised to be a Bull Market for MongoDB Inc. (MDB)

MongoDB Inc. (NASDAQ: MDB) stock fell -1.54% on Monday to $356.54 against a previous-day closing price of $362.13. With 0.64 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.51 million shares. During the session, the Software – Infrastructure company that operates in wider Technology sector, reached to the highest price of $361.23 whereas the lowest price it dropped to was $354.76. The 52-week range on MDB shows that it touched its highest point at $439.00 and its lowest point at $135.15 during that stretch. It currently has a 1-year price target of $428.04. Beta for the stock currently stands at 1.12.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MDB was down-trending over the past week, with a drop of -9.57%, but this was up by 1.53% over a month. Three-month performance dropped to -6.15% while six-month performance rose 62.23%. The stock gained 52.68% in the past year, while it has gained 81.13% so far this year. A look at the trailing 12-month EPS for MDB yields -3.46 with Next year EPS estimates of 2.82. For the next quarter, that number is 0.51. This implies an EPS growth rate of -5.90% for this year and 19.84% for next year.

Float and Shares Shorts:

At present, 70.87 million MDB shares are outstanding with a float of 68.76 million shares on hand for trading. On Aug 30, 2023, short shares totaled 3.95 million, which was 5.53% higher than short shares on Jul 30, 2023. In addition to Mr. Dev C. Ittycheria as the firm’s Pres, CEO & Director, Mr. Dwight A. Merriman serves as its Co-Founder & Director.

Institutional Ownership:

Through their ownership of 92.24% of MDB’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 58.50% of MDB, in contrast to 32.95% held by mutual funds. Shares owned by individuals account for 10.17%. As the largest shareholder in MDB with 9.18% of the stake, The Vanguard Group, Inc. holds 6,481,091 shares worth 6,481,091. A second-largest stockholder of MDB, T. Rowe Price Associates, Inc., holds 4,982,405 shares, controlling over 7.06% of the firm’s shares. Fidelity Management & Research Co is the third largest shareholder in MDB, holding 4,836,500 shares or 6.85% stake. With a 2.97% stake in MDB, the American Funds Growth Fund of Ame is the largest stakeholder. A total of 2,098,130 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.96% of MDB stock, is the second-largest Mutual Fund holder. It holds 2,088,440 shares valued at 796.32 million. Vanguard Mid Cap Index Fund holds 2.20% of the stake in MDB, owning 1,552,691 shares worth 592.04 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MDB since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With MDB analysts setting a high price target of $500.00 and a low target of $250.00, the average target price over the next 12 months is $433.63. Based on these targets, MDB could surge 40.24% to reach the target high and fall by -29.88% to reach the target low. Reaching the average price target will result in a growth of 21.62% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded MDB stock several times over the past three months with 14 Buys and 27 Sells. In these transactions, 6,401 shares were bought while 44,105 shares were sold. The number of buy transactions has increased to 47 while that of sell transactions has risen to 134 over the past year. The total number of shares bought during that period was 523,022 while 617,886 shares were sold.

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