Oppenheimer Lowers MongoDB (NASDAQ:MDB) Price Target to $330.00

MongoDB (NASDAQ:MDB) had its target price reduced by equities researchers at Oppenheimer from $400.00 to $330.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s target price indicates a potential upside of 75.86% from the company’s previous close.

MDB has been the subject of a number of other reports. Robert W. Baird dropped their target price on shares of MongoDB from $390.00 to $300.00 and set an “outperform” rating for the company in a report on Thursday. Loop Capital dropped their price objective on shares of MongoDB from $400.00 to $350.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Royal Bank of Canada dropped their price objective on shares of MongoDB from $400.00 to $320.00 and set an “outperform” rating for the company in a research note on Thursday. Citigroup raised their price objective on shares of MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Finally, Truist Financial reissued a “buy” rating and set a $400.00 price objective (up from $320.00) on shares of MongoDB in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, MongoDB has a consensus rating of “Moderate Buy” and a consensus price target of $319.87.

MongoDB Trading Down 2.8 %

Shares of MongoDB stock opened at $187.65 on Thursday. MongoDB has a 12-month low of $181.05 and a 12-month high of $411.50. The stock has a market cap of $13.97 billion, a PE ratio of -68.49 and a beta of 1.30. The company has a 50-day moving average of $261.68 and a two-hundred day moving average of $274.23.

MongoDB (NASDAQ:MDB) last issued its earnings results 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). MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The company had revenue of $548.40 million during the quarter, compared to analysts’ expectations of $519.65 million. During the same period last year, the business posted $0.86 earnings per share. On average, sell-side analysts forecast that MongoDB will post -1.78 EPS for the current fiscal year.

Insider Buying and Selling at MongoDB

In related news, CAO Thomas Bull sold 1,000 shares of MongoDB 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 transaction, the chief accounting officer now owns 15,068 shares in the company, valued at approximately $5,363,002.56. The trade was a 6.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Dev Ittycheria sold 8,335 shares of MongoDB stock in a transaction on Friday, January 17th. The shares were sold at an average price of $254.86, for a total transaction of $2,124,258.10. Following the transaction, the chief executive officer now owns 217,294 shares in the company, valued at $55,379,548.84. The trade was a 3.69 % 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 worth $13,337,753 in the last quarter. 3.60% of the stock is owned by insiders.

Hedge Funds Weigh In On MongoDB

Several hedge funds and other institutional investors have recently made changes to their positions in the business. OneDigital Investment Advisors LLC lifted its holdings in shares of 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 acquiring an additional 39 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of MongoDB by 3.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the company’s stock valued at $295,000 after acquiring an additional 40 shares in the last quarter. Hilltop National Bank lifted its holdings in shares of MongoDB by 47.2% during the 4th quarter. Hilltop National Bank now owns 131 shares of the company’s stock valued at $30,000 after acquiring an additional 42 shares in the last quarter. Avestar Capital LLC lifted its holdings in shares of MongoDB by 2.0% during the 4th quarter. Avestar Capital LLC now owns 2,165 shares of the company’s stock valued at $504,000 after acquiring an additional 42 shares in the last quarter. Finally, Rakuten Securities Inc. lifted its holdings in shares of MongoDB by 16.5% during 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. Institutional investors and hedge funds 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.