MongoDB (NASDAQ:MDB) Given New $300.00 Price Target at Truist Financial

MongoDB (NASDAQ:MDB) had its price objective cut by analysts at Truist Financial from $400.00 to $300.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 45.64% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Citigroup boosted their price target on MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Cantor Fitzgerald initiated coverage on shares of MongoDB in a research report on Wednesday. They set an “overweight” rating and a $344.00 target price for the company. Needham & Company LLC decreased their target price on MongoDB from $415.00 to $270.00 and set a “buy” rating on the stock in a research report on Thursday. Loop Capital decreased their price target on shares of MongoDB from $400.00 to $350.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Barclays dropped their price objective on shares of MongoDB from $330.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $326.16.

MongoDB Trading Down 22.0 %

MDB traded down $58.15 during trading on Thursday, hitting $205.98. 5,219,244 shares of the company’s stock traded hands, compared to its average volume of 1,620,263. The stock has a market capitalization of $15.34 billion, a price-to-earnings ratio of -75.38 and a beta of 1.30. MongoDB has a 12-month low of $200.36 and a 12-month high of $424.00. The company’s 50 day simple moving average is $263.70 and its two-hundred day simple moving average is $275.28.

MongoDB (NASDAQ:MDB) last issued its earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The business had revenue of $548.40 million during the quarter, compared to analysts’ expectations of $519.65 million. During the same period last year, the firm posted $0.86 EPS. On average, equities analysts expect that MongoDB will post -1.78 EPS for the current year.

Insider Buying and Selling

In other MongoDB news, CEO Dev Ittycheria sold 2,581 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 $604,186.29. Following the completion of the transaction, the chief executive officer now directly owns 217,294 shares of the company’s stock, valued at $50,866,352.46. The trade was a 1.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Thomas Bull sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $355.92, for a total transaction of $355,920.00. Following the completion of the transaction, the chief accounting officer now directly owns 15,068 shares of the company’s stock, valued at approximately $5,363,002.56. The trade was a 6.22 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,314 shares of company stock worth $13,337,753. Company insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

Institutional investors have recently modified their holdings of the business. Strategic Investment Solutions Inc. IL acquired a new position in MongoDB during the 4th quarter worth approximately $29,000. Hilltop National Bank grew its stake in shares of MongoDB by 47.2% in the 4th quarter. Hilltop National Bank now owns 131 shares of the company’s stock valued at $30,000 after purchasing an additional 42 shares during the last quarter. Brooklyn Investment Group acquired a new position in MongoDB in the 3rd quarter valued at $36,000. Continuum Advisory LLC lifted its position in MongoDB by 621.1% in the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after purchasing an additional 118 shares during the period. Finally, NCP Inc. purchased a new stake in shares of MongoDB in the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

About MongoDB

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.