Scotiabank Cuts MongoDB (NASDAQ:MDB) Price Target to $275.00

MongoDB (NASDAQ:MDB) had its target price lowered by Scotiabank from $350.00 to $275.00 in a report released on Tuesday,Benzinga reports. The firm currently has a sector perform rating on the stock.

Other analysts also recently issued reports about the stock. Rosenblatt Securities assumed coverage on shares of MongoDB in a report on Tuesday, December 17th. They issued a “buy” rating and a $350.00 price objective on the stock. DA Davidson boosted their target price on shares of MongoDB from $340.00 to $405.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Loop Capital raised their price target on shares of MongoDB from $315.00 to $400.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Macquarie began coverage on shares of MongoDB in a research note on Thursday, December 12th. They issued a “neutral” rating and a $300.00 target price for the company. Finally, Robert W. Baird raised their price target on shares of MongoDB from $380.00 to $390.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, MongoDB currently has a consensus rating of “Moderate Buy” and an average target price of $361.00.

MongoDB Trading Down 0.0 %

MDB opened at $260.62 on Tuesday. MongoDB has a 1-year low of $212.74 and a 1-year high of $509.62. The stock has a market capitalization of $19.41 billion, a price-to-earnings ratio of -95.12 and a beta of 1.25. The business has a 50 day moving average of $275.99 and a 200-day moving average of $268.99.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.48. The firm had revenue of $529.40 million for the quarter, compared to analysts’ expectations of $497.39 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The business’s revenue was up 22.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.96 earnings per share. Equities analysts predict that MongoDB will post -1.79 EPS for the current year.

Insider Transactions at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 1,000 shares of MongoDB stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $265.00, for a total transaction of $265,000.00. Following the transaction, the director now owns 1,116,006 shares of the company’s stock, valued at $295,741,590. The trade was a 0.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Thomas Bull sold 169 shares of MongoDB stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value of $39,561.21. Following the completion of the transaction, the chief accounting officer now owns 14,899 shares in the company, valued at $3,487,706.91. The trade was a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,156 shares of company stock worth $9,220,473. 3.60% of the stock is currently owned by insiders.

Institutional Trading of MongoDB

A number of large investors have recently made changes to their positions in the company. Jennison Associates LLC increased its holdings in MongoDB by 23.6% during the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock worth $838,632,000 after buying an additional 592,038 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of MongoDB by 11,057.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 296,889 shares of the company’s stock worth $69,119,000 after acquiring an additional 294,228 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in MongoDB during the 2nd quarter valued at $52,131,000. Avala Global LP bought a new stake in MongoDB in the third quarter valued at $47,960,000. Finally, Eagle Asset Management Inc. bought a new stake in shares of MongoDB during the third quarter valued at approximately $44,380,000. Institutional investors own 89.29% of the company’s stock.

MongoDB Company Profile

MongoDB, Inc, together with its subsidiaries, provides general purpose database platform worldwide. The company provides MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premises, or in a hybrid environment; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.