MongoDB (NASDAQ:MDB) Price Target Cut to $350.00 by Analysts at Loop Capital

MongoDB (NASDAQ:MDB) had its price objective cut by Loop Capital from $400.00 to $350.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a buy rating on the stock.

MDB has been the topic of several other research reports. Monness Crespi & Hardt raised shares of MongoDB from a “sell” rating to a “neutral” rating in a research report on Monday. Stifel Nicolaus lifted their target price on MongoDB from $325.00 to $360.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Wells Fargo & Company upped their price target on MongoDB from $350.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Tigress Financial raised their price objective on MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Finally, Morgan Stanley increased their target price on shares of MongoDB from $340.00 to $350.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, MongoDB presently has an average rating of “Moderate Buy” and an average price target of $359.33.

MongoDB Stock Performance

Shares of MongoDB stock opened at $259.02 on Monday. The stock has a market capitalization of $19.29 billion, a PE ratio of -94.53 and a beta of 1.28. MongoDB has a 52 week low of $212.74 and a 52 week high of $443.09. The stock has a 50 day moving average price of $263.05 and a two-hundred day moving average price of $275.34.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings results on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.48. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business had revenue of $529.40 million during the quarter, compared to the consensus estimate of $497.39 million. During the same quarter last year, the firm posted $0.96 EPS. MongoDB’s revenue was up 22.3% compared to the same quarter last year. Research analysts forecast that MongoDB will post -1.78 EPS for the current year.

Insider Activity at MongoDB

In other news, CAO Thomas Bull sold 1,000 shares of the business’s stock in a transaction 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 in the company, valued at $5,363,002.56. The trade was a 6.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Dev Ittycheria sold 8,335 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $254.86, for a total value of $2,124,258.10. Following the completion of the sale, the chief executive officer now owns 217,294 shares in the company, valued at $55,379,548.84. This trade represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,314 shares of company stock worth $12,525,863. 3.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On MongoDB

A number of institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of MongoDB during the fourth quarter worth about $189,584,000. Jennison Associates LLC grew its stake in MongoDB by 23.6% in the 3rd 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 in the last quarter. Marshall Wace LLP bought a new position in shares of MongoDB in the 4th quarter worth $110,356,000. Raymond James Financial Inc. purchased a new stake in shares of MongoDB during the 4th quarter valued at $90,478,000. Finally, D1 Capital Partners L.P. bought a new stake in shares of MongoDB during the 4th quarter worth $76,129,000. 89.29% of the stock is currently owned by institutional investors.

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.