Fintel reports that on April 23, 2024, Loop Capital initiated coverage of MongoDB (NasdaqGM:MDB) with a Buy recommendation.
Analyst Price Forecast Suggests 35.21% Upside
As of April 17, 2024, the average one-year price target for MongoDB is 459.94. The forecasts range from a low of 274.72 to a high of $735.00. The average price target represents an increase of 35.21% from its latest reported closing price of 340.16.
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The projected annual revenue for MongoDB is 2,043MM, an increase of 21.39%. The projected annual non-GAAP EPS is 1.08.
What is the Fund Sentiment?
There are 1499 funds or institutions reporting positions in MongoDB. This is an increase of 143 owner(s) or 10.55% in the last quarter. Average portfolio weight of all funds dedicated to MDB is 0.45%, a decrease of 3.07%. Total shares owned by institutions increased in the last three months by 1.63% to 79,576K shares. 
The put/call ratio of MDB is 1.92, indicating a bearish outlook.
What are Other Shareholders Doing?
Jennison Associates holds 3,857K shares representing 5.30% ownership of the company. In it's prior filing, the firm reported owning 3,734K shares, representing an increase of 3.19%. The firm increased its portfolio allocation in MDB by 7.18% over the last quarter.
Jpmorgan Chase holds 3,175K shares representing 4.36% ownership of the company. In it's prior filing, the firm reported owning 3,195K shares, representing a decrease of 0.64%. The firm increased its portfolio allocation in MDB by 2.29% over the last quarter.
Price T Rowe Associates holds 3,170K shares representing 4.35% ownership of the company. In it's prior filing, the firm reported owning 4,554K shares, representing a decrease of 43.69%. The firm decreased its portfolio allocation in MDB by 24.57% over the last quarter.
Wellington Management Group Llp holds 2,386K shares representing 3.28% ownership of the company. In it's prior filing, the firm reported owning 1,510K shares, representing an increase of 36.71%. The firm decreased its portfolio allocation in MDB by 74.98% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,130K shares representing 2.92% ownership of the company. In it's prior filing, the firm reported owning 2,083K shares, representing an increase of 2.18%. The firm increased its portfolio allocation in MDB by 8.00% 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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