Truist Financial Issues Pessimistic Forecast for MongoDB (NASDAQ:MDB) Stock Price

MongoDB (NASDAQ:MDB) had its target price dropped by Truist Financial from $400.00 to $300.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price target would indicate a potential upside of 59.87% from the company’s previous close.

MDB has been the topic of a number of other reports. Piper Sandler lowered their target price on shares of MongoDB from $425.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday. Macquarie began coverage on shares of MongoDB in a report on Thursday, December 12th. They set a “neutral” rating and a $300.00 target price on the stock. The Goldman Sachs Group boosted their target price on shares of MongoDB from $340.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Guggenheim upgraded shares of MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 target price on the stock in a report on Monday, January 6th. Finally, Stifel Nicolaus upped their price objective on shares of MongoDB from $325.00 to $360.00 and gave the company a “buy” rating in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $319.87.

MongoDB Stock Down 2.8 %

NASDAQ MDB opened at $187.65 on Thursday. MongoDB has a 12-month low of $181.05 and a 12-month high of $411.50. The company has a market capitalization of $13.97 billion, a PE ratio of -68.49 and a beta of 1.30. The firm’s 50 day moving average is $261.68 and its 200-day moving average is $274.23.

MongoDB (NASDAQ:MDB) last issued its earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). The firm had revenue of $548.40 million for the quarter, compared to analyst estimates of $519.65 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. During the same quarter in the previous year, the firm posted $0.86 earnings per share. As a group, sell-side analysts expect that MongoDB will post -1.78 EPS for the current year.

Insider Buying and Selling

In related news, CAO Thomas Bull sold 1,000 shares of the company’s stock in a transaction dated 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 $5,363,002.56. This represents a 6.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Dev Ittycheria sold 8,335 shares of the stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $254.86, for a total transaction of $2,124,258.10. Following the completion of the transaction, the chief executive officer now directly owns 217,294 shares of the company’s stock, 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. Insiders sold 50,314 shares of company stock valued at $13,337,753 over the last quarter. 3.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On MongoDB

Hedge funds have recently made changes to their positions in the stock. Strategic Investment Solutions Inc. IL acquired a new stake in shares of MongoDB in the 4th quarter valued at approximately $29,000. Hilltop National Bank boosted its stake in shares of MongoDB by 47.2% in the 4th quarter. Hilltop National Bank now owns 131 shares of the company’s stock valued at $30,000 after purchasing an additional 42 shares in the last quarter. NCP Inc. acquired a new stake in shares of MongoDB in the 4th quarter valued at approximately $35,000. Brooklyn Investment Group acquired a new stake in shares of MongoDB in the 3rd quarter valued at approximately $36,000. Finally, Continuum Advisory LLC boosted its stake in shares of MongoDB by 621.1% in the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after purchasing an additional 118 shares in 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.