Barclays Lowers MongoDB (NASDAQ:MDB) Price Target to $280.00

MongoDB (NASDAQ:MDB) had its target price reduced by investment analysts at Barclays from $330.00 to $280.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 49.21% from the stock’s current price.

MDB has been the topic of several other research reports. Rosenblatt Securities reissued a “buy” rating and issued a $350.00 price objective on shares of MongoDB in a research note on Tuesday. Guggenheim raised MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 target price on the stock in a research report on Monday, January 6th. China Renaissance began coverage on MongoDB in a research report on Tuesday, January 21st. They set a “buy” rating and a $351.00 target price on the stock. Oppenheimer increased their target price on MongoDB from $350.00 to $400.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Finally, Canaccord Genuity Group dropped their target price on MongoDB from $385.00 to $320.00 and set a “buy” rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, MongoDB presently has an average rating of “Moderate Buy” and an average price target of $319.87.

MongoDB Stock Down 2.8 %

Shares of NASDAQ:MDB opened at $187.65 on Thursday. MongoDB has a 52-week low of $181.05 and a 52-week high of $411.50. The stock has a market cap of $13.97 billion, a P/E ratio of -68.49 and a beta of 1.30. The business’s 50 day moving average is $261.68 and its 200 day moving average is $274.23.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data 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). 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 period last year, the company earned $0.86 EPS. On average, sell-side analysts anticipate that MongoDB will post -1.78 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Dwight A. Merriman sold 3,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $270.63, for a total transaction of $811,890.00. Following the sale, the director now directly owns 1,109,006 shares in the company, valued at $300,130,293.78. This trade represents a 0.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Cedric Pech sold 287 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total value of $67,183.83. Following the sale, the insider now owns 24,390 shares in the company, valued at $5,709,455.10. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,314 shares of company stock worth $13,337,753 in the last 90 days. Insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

A number of institutional investors have recently modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of MongoDB during the 4th quarter valued at about $13,270,000. Azzad Asset Management Inc. ADV grew its position in shares of MongoDB by 17.7% during the 4th quarter. Azzad Asset Management Inc. ADV now owns 7,519 shares of the company’s stock valued at $1,750,000 after acquiring an additional 1,132 shares during the period. Infinitum Asset Management LLC acquired a new stake in shares of MongoDB during the 4th quarter valued at about $8,148,000. Polar Asset Management Partners Inc. acquired a new stake in MongoDB in the 4th quarter worth about $14,458,000. Finally, Mackenzie Financial Corp boosted its holdings in MongoDB by 47.8% in the 4th quarter. Mackenzie Financial Corp now owns 5,731 shares of the company’s stock worth $1,334,000 after buying an additional 1,854 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

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.