Morgan Stanley Lowers MongoDB (NASDAQ:MDB) Price Target to $315.00

MongoDB (NASDAQ:MDB) had its price target dropped by research analysts at Morgan Stanley from $350.00 to $315.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 67.87% from the company’s current price.

Several other research firms have also recently weighed in on MDB. Guggenheim upgraded MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 price target for the company in a research note on Monday, January 6th. Loop Capital decreased their price target on MongoDB from $400.00 to $350.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Barclays decreased their price target on MongoDB from $400.00 to $330.00 and set an “overweight” rating for the company in a research note on Friday, January 10th. Bank of America decreased their price target on MongoDB from $420.00 to $286.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Royal Bank of Canada boosted their price target on MongoDB from $350.00 to $400.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $319.87.

MongoDB Trading Down 2.8 %

Shares of NASDAQ:MDB opened at $187.65 on Thursday. The stock has a fifty day simple moving average of $261.68 and a two-hundred day simple moving average of $274.23. The stock has a market capitalization of $13.97 billion, a price-to-earnings ratio of -68.49 and a beta of 1.30. MongoDB has a 12-month low of $181.05 and a 12-month high of $411.50.

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 analysts’ consensus estimates of $0.64 by ($0.45). The company had revenue of $548.40 million for the quarter, compared to analysts’ expectations of $519.65 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. During the same quarter in the previous year, the firm posted $0.86 EPS. As a group, equities research analysts predict that MongoDB will post -1.78 EPS for the current year.

Insider Buying and Selling

In related news, CFO Michael Lawrence Gordon sold 5,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $267.85, for a total value of $1,339,250.00. Following the completion of the transaction, the chief financial officer now owns 80,307 shares in the company, valued at $21,510,229.95. This trade represents a 5.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Thomas Bull sold 1,000 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $355.92, for a total value of $355,920.00. Following the completion of the transaction, the chief accounting officer now owns 15,068 shares of the company’s stock, valued at $5,363,002.56. This trade represents a 6.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,314 shares of company stock valued at $13,337,753 over the last quarter. 3.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MongoDB

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of MongoDB by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 7,328,745 shares of the company’s stock valued at $1,706,205,000 after acquiring an additional 23,942 shares during the period. Jennison Associates LLC boosted its holdings in shares of MongoDB by 23.6% during the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock worth $838,632,000 after purchasing an additional 592,038 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of MongoDB by 9.7% during the 4th quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company’s stock worth $478,398,000 after purchasing an additional 181,962 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of MongoDB by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 1,252,142 shares of the company’s stock worth $290,987,000 after purchasing an additional 22,106 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of MongoDB by 12.6% during the 4th quarter. First Trust Advisors LP now owns 854,906 shares of the company’s stock valued at $199,031,000 after buying an additional 95,893 shares during the period. Hedge funds and other 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.