Bank of America Lowers MongoDB (NASDAQ:MDB) Price Target to $286.00

MongoDB (NASDAQ:MDB) had its target price lowered by research analysts at Bank of America from $420.00 to $286.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price objective points to a potential upside of 52.41% from the stock’s previous close.

Several other research firms have also recently commented on MDB. KeyCorp upped their target price on shares of MongoDB from $330.00 to $375.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. JMP Securities restated a “market outperform” rating and issued a $380.00 target price on shares of MongoDB in a research report on Wednesday, December 11th. Tigress Financial upped their target price on shares of MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. China Renaissance started coverage on shares of MongoDB in a research report on Tuesday, January 21st. They issued a “buy” rating and a $351.00 target price for the company. Finally, Barclays decreased their target price on shares of MongoDB from $400.00 to $330.00 and set an “overweight” rating for the company in a research report on Friday, January 10th. One investment 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $319.87.

MongoDB Stock Down 2.8 %

Shares of NASDAQ:MDB opened at $187.65 on Thursday. MongoDB has a fifty-two week low of $181.05 and a fifty-two week high of $411.50. The firm has a 50-day simple moving average of $261.68 and a 200 day simple moving average of $274.23. The company has a market cap of $13.97 billion, a PE ratio of -68.49 and a beta of 1.30.

MongoDB (NASDAQ:MDB) last posted 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 firm had revenue of $548.40 million during the quarter, compared to the consensus estimate of $519.65 million. During the same quarter last year, the company posted $0.86 EPS. As a group, research analysts forecast that MongoDB will post -1.78 EPS for the current fiscal year.

Insider Activity at MongoDB

In related news, insider Cedric Pech sold 287 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total value of $67,183.83. Following the completion of the sale, the insider now owns 24,390 shares in the company, valued at approximately $5,709,455.10. This represents a 1.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Thomas Bull sold 1,000 shares of the company’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 sale, the chief accounting officer now owns 15,068 shares of the company’s stock, valued at approximately $5,363,002.56. This trade represents a 6.22 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,314 shares of company stock worth $13,337,753. 3.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in MongoDB in the 4th quarter valued at approximately $13,270,000. Azzad Asset Management Inc. ADV increased its stake in MongoDB by 17.7% in the 4th quarter. Azzad Asset Management Inc. ADV now owns 7,519 shares of the company’s stock valued at $1,750,000 after buying an additional 1,132 shares during the period. Infinitum Asset Management LLC acquired a new position in MongoDB in the 4th quarter valued at approximately $8,148,000. Polar Asset Management Partners Inc. acquired a new position in MongoDB in the 4th quarter valued at approximately $14,458,000. Finally, Mackenzie Financial Corp increased its stake in MongoDB by 47.8% in the 4th quarter. Mackenzie Financial Corp now owns 5,731 shares of the company’s stock valued at $1,334,000 after buying an additional 1,854 shares during the period. 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.