KeyBanc Believes MongoDB Inc (NASDAQ: MDB) Still Has Room to Grow

By Ryan Adsit

In a report released yesterday, Brent Bracelin from KeyBanc maintained a Buy rating on MongoDB Inc (MDBResearch Report). The company’s shares closed yesterday at $104.26, close to its 52-week high of $109.97.

Bracelin observed:

“We are raising our estimates and PT to $150 as our confidence grows in MongoDB’s multiyear opportunity to sustain high growth in a large $59B market.”

According to TipRanks.com, Bracelin is a top 25 analyst with an average return of 27.4% and a 77.0% success rate. Bracelin covers the Technology sector, focusing on stocks such as Tyler Technologies, Salesforce.com, and Everbridge Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for MongoDB Inc with a $91.57 average price target, representing a -12.2% downside. In a report issued on February 28, Needham also maintained a Buy rating on the stock with a $108 price target.

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The company has a one-year high of $109.97 and a one-year low of $32.35. Currently, MongoDB Inc has an average volume of 1.2M.

Based on the recent corporate insider activity of 80 insiders, corporate insider sentiment is negative on the stock.

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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 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.