Citigroup raised MDB’s worth goal to $550
Citigroup raised its worth goal on MongoDB Inc (NASDAQ:MDB) inventory to $550 from $515, forward of the software program firm’s fourth-quarter earnings report, which is due out after the market shut tomorrow. Shares are up 2.2% at $413.83 finally examine, and are bouncing off the 100-day shifting common after a pullback from their Feb. 9, two-year peak of $509.63. Within the final 12 months, MDB added 84.8%.
The brokerage bunch is bullish, with 22 of the 27 corporations in query calling the safety a “purchase” or higher. Echoing this, the 12-month consensus goal worth of $471.73 is a 13.9% premium to present ranges.
Choices merchants are additionally betting on a transfer greater, per MDB’s 50-put put/name quantity ratio of 1.30 on the Worldwide Securities Alternate (ISE), Cboe Choices Alternate (CBOE), and NASDAQ OMX PHLX (PHLX) that stands greater than 91 % of readings from the final 12 months. This means calls have been getting picked up at a a lot faster-than-usual clip recently.
That optimism shouldn’t be unfounded, since MongoDB inventory has a stable post-earnings file. The shares completed 5 of its previous eight post-earnings file greater, together with a 28% achieve in June. MDB averaged a transfer of 17% over the previous two years, no matter course, however the choices pits are pricing in a bigger-than-usual swing of 20.5% this time.
