MongoDB (NASDAQ:MDB) Price Target Lowered to $215.00 at Macquarie

MongoDB (NASDAQ:MDB) had its target price trimmed by Macquarie from $300.00 to $215.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other analysts have also weighed in on MDB. Wedbush cut their target price on shares of MongoDB from $360.00 to $300.00 and set an “outperform” rating on the stock in a research report on Thursday. Truist Financial dropped their price target on MongoDB from $400.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday. Citigroup boosted their price objective on MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Barclays lowered their target price on MongoDB from $330.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Bank of America cut their price target on MongoDB from $420.00 to $286.00 and set a “buy” rating on the stock in a research note on Thursday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $319.87.

MongoDB Stock Performance

MongoDB stock opened at $187.65 on Friday. MongoDB has a 52 week low of $181.05 and a 52 week high of $411.50. The stock has a market capitalization of $13.97 billion, a P/E ratio of -68.49 and a beta of 1.30. The stock has a fifty day moving average of $261.68 and a 200-day moving average of $274.23.

MongoDB (NASDAQ:MDB) last issued its earnings results on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $519.65 million. During the same period in the previous year, the firm posted $0.86 EPS. On average, research analysts forecast that MongoDB will post -1.78 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Thomas Bull sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $355.92, for a total transaction of $355,920.00. Following the transaction, the chief accounting officer now directly owns 15,068 shares of the company’s stock, valued at approximately $5,363,002.56. This represents a 6.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $270.63, for a total value of $811,890.00. Following the completion of the transaction, the director now owns 1,109,006 shares in the company, valued at approximately $300,130,293.78. The trade was a 0.27 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,314 shares of company stock worth $13,337,753. Corporate insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

A number of large investors have recently modified their holdings of MDB. OneDigital Investment Advisors LLC increased its stake in MongoDB by 3.9% during the 4th quarter. OneDigital Investment Advisors LLC now owns 1,044 shares of the company’s stock valued at $243,000 after purchasing an additional 39 shares in the last quarter. Hilltop National Bank increased its position in shares of MongoDB by 47.2% during the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after acquiring an additional 42 shares in the last quarter. Avestar Capital LLC raised its holdings in shares of MongoDB by 2.0% in the 4th quarter. Avestar Capital LLC now owns 2,165 shares of the company’s stock worth $504,000 after acquiring an additional 42 shares during the last quarter. Rakuten Securities Inc. lifted its position in MongoDB by 16.5% in the 3rd quarter. Rakuten Securities Inc. now owns 332 shares of the company’s stock valued at $90,000 after acquiring an additional 47 shares in the last quarter. Finally, Aigen Investment Management LP boosted its stake in MongoDB by 1.4% during the 4th quarter. Aigen Investment Management LP now owns 3,921 shares of the company’s stock valued at $913,000 after purchasing an additional 55 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors.

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.