Barclays Believes MongoDB Inc (NASDAQ: MDB) Won’t Stop Here

Barclays analyst Raimo Lenschow maintained a Buy rating on MongoDB Inc (MDBResearch Report) yesterday and set a price target of $108. The company’s shares opened today at $83, close to its 52-week high of $88.27.

According to TipRanks.com, Lenschow is a top 25 analyst with an average return of 18.3% and a 74.9% success rate. Lenschow covers the Technology sector, focusing on stocks such as Ceridian HCM Holding Inc, SolarWinds Corporation, and Cornerstone Ondemand.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for MongoDB Inc with a $96.60 average price target, implying a 16.4% upside from current levels. In a report issued on November 27, Monness also maintained a Buy rating on the stock with a $90 price target.

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Based on MongoDB Inc’s latest earnings release for the quarter ending October 31, the company reported a quarterly GAAP net loss of $31.32 million. In comparison, last year the company had a GAAP net loss of $24.22 million.

Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is negative on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

MongoDB, Inc. engages in the development and provision of a general purpose database platform. Its products include MongoDB Enterprise Advanced, MongoDB Professional, Development Support, Ops and Cloud Manager. 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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