Fintel reports that on December 12, 2024, Macquarie initiated coverage of MongoDB (NasdaqGM:MDB) with a Neutral recommendation.
Analyst Price Forecast Suggests 21.29% Upside
As of December 3, 2024, the average one-year price target for MongoDB is $350.10/share. The forecasts range from a low of $181.80 to a high of $546.00. The average price target represents an increase of 21.29% from its latest reported closing price of $288.64 / share.
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The projected annual revenue for MongoDB is 2,043MM, an increase of 6.63%. The projected annual non-GAAP EPS is 1.08.
What is the Fund Sentiment?
There are 1,386 funds or institutions reporting positions in MongoDB. This is an decrease of 65 owner(s) or 4.48% in the last quarter. Average portfolio weight of all funds dedicated to MDB is 0.30%, an increase of 0.82%. Total shares owned by institutions decreased in the last three months by 1.10% to 83,029K shares. 
The put/call ratio of MDB is 1.16, indicating a bearish outlook.
What are Other Shareholders Doing?
Jpmorgan Chase holds 3,358K shares representing 4.51% ownership of the company. In its prior filing, the firm reported owning 3,296K shares , representing an increase of 1.85%. The firm decreased its portfolio allocation in MDB by 93.11% over the last quarter.
Price T Rowe Associates holds 3,285K shares representing 4.41% ownership of the company. In its prior filing, the firm reported owning 3,438K shares , representing a decrease of 4.67%. The firm decreased its portfolio allocation in MDB by 50.36% over the last quarter.
Wellington Management Group Llp holds 3,159K shares representing 4.24% ownership of the company. In its prior filing, the firm reported owning 3,519K shares , representing a decrease of 11.38%. The firm decreased its portfolio allocation in MDB by 4.73% over the last quarter.
Jennison Associates holds 3,102K shares representing 4.17% ownership of the company. In its prior filing, the firm reported owning 2,510K shares , representing an increase of 19.09%. The firm decreased its portfolio allocation in MDB by 30.68% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,213K shares representing 2.97% ownership of the company. In its prior filing, the firm reported owning 2,192K shares , representing an increase of 0.95%. The firm increased its portfolio allocation in MDB by 2.56% over the last quarter.
MongoDB Background Information
(This description is provided by the company.)
MongoDB is the leading modern, general purpose database platform, designed to unleash the power of software and data for developers and the applications they build. Headquartered in New York, MongoDB has more than 22,600 customers in over 100 countries. The MongoDB database platform has been downloaded over 130 million times and there have been more than one million MongoDB University registrations.
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This story originally appeared on Fintel.
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