MongoDB (NASDAQ:MDB) Given New $300.00 Price Target at Robert W. Baird

MongoDB (NASDAQ:MDB) had its price target lowered by Robert W. Baird from $390.00 to $300.00 in a report issued on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

MDB has been the subject of several other reports. Canaccord Genuity Group upped their price objective on MongoDB from $325.00 to $385.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Morgan Stanley upped their price objective on MongoDB from $340.00 to $350.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. DA Davidson upped their price objective on MongoDB from $340.00 to $405.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Macquarie assumed coverage on MongoDB in a research report on Thursday, December 12th. They set a “neutral” rating and a $300.00 price objective for the company. Finally, Stifel Nicolaus upped their price objective on MongoDB from $325.00 to $360.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat, MongoDB presently has an average rating of “Moderate Buy” and a consensus price target of $322.61.

MongoDB Price Performance

Shares of MongoDB stock opened at $192.98 on Thursday. MongoDB has a 1 year low of $192.79 and a 1 year high of $413.87. The business has a 50-day moving average of $262.69 and a two-hundred day moving average of $274.71. The company has a market capitalization of $14.37 billion, a P/E ratio of -70.43 and a beta of 1.30.

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

Insider Transactions at MongoDB

In other news, CEO Dev Ittycheria sold 8,335 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $254.86, for a total transaction of $2,124,258.10. Following the transaction, the chief executive officer now owns 217,294 shares in the company, valued at approximately $55,379,548.84. This trade represents a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Cedric Pech sold 287 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value of $67,183.83. Following the transaction, the insider now owns 24,390 shares in the company, valued at approximately $5,709,455.10. This trade represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have 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

A number of hedge funds have recently added to or reduced their stakes in MDB. Nisa Investment Advisors LLC increased its stake in MongoDB by 3.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the company’s stock worth $295,000 after acquiring an additional 40 shares during the period. US Bancorp DE increased its stake in MongoDB by 9.1% during the 3rd quarter. US Bancorp DE now owns 3,869 shares of the company’s stock worth $1,046,000 after acquiring an additional 324 shares during the period. Janney Montgomery Scott LLC bought a new position in MongoDB during the 3rd quarter worth $861,000. Principal Financial Group Inc. increased its stake in MongoDB by 2.7% during the 3rd quarter. Principal Financial Group Inc. now owns 6,095 shares of the company’s stock worth $1,648,000 after acquiring an additional 160 shares during the period. Finally, Atria Investments Inc increased its stake in MongoDB by 6.6% during the 3rd quarter. Atria Investments Inc now owns 2,175 shares of the company’s stock worth $588,000 after acquiring an additional 135 shares during the period. 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.