Analyst Sees Huge Upside for MongoDB Stock

The stock is surging in early trading action

Deputy Editor
Apr 12, 2023 at 10:36 AM
facebook X logo linkedin


Morgan Stanley upgraded software concern MongoDB Inc (NASDAQ:MDB) stock to "overweight" from "equal weight" and hiked its price target to $270 -- a 27.6% premium to last night's close.

In its bull note, the analyst said it sees a "pivot to profitability," saying its macro concerns have been addressed and citing the company's market leadership. In addition, Morgan Stanley said MongoDB could benefit from new artificial intelligence (AI) advancements and cloud migration.

MongoMD stock is surging this morning, last seen up 9.9% to trade at $232.50. The equity's most recent pullback was saved by support from the 120-day moving average, and today's pop could put MDB back above its 200-day trendline. Year-to-date, the security sports a more than 14% lead. 

Options volume is picking up this morning, and running at five times the intraday average amount. New positions are opening at the top five contracts, led by the April 235 call.

Those looking to speculate with options can do so for a bargain at the moment. This is per MongoDB stock's Schaeffer's Volatility Index (SVI) of 61%, which ranks in the low 9th percentile of annual readings. Plus, the security's Schaeffer's Volatility Scorecard (SVS) sits at a 72 out of 100, meaning MDB stock has exceeded option traders' volatility expectations during the past year -- a good thing for options buyers. 

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI