Wedbush Lowers MongoDB (NASDAQ:MDB) Price Target to $300.00

MongoDB (NASDAQ:MDB) had its price objective cut by Wedbush from $360.00 to $300.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Wedbush’s price objective points to a potential upside of 59.87% from the company’s current price.

A number of other research analysts have also recently issued reports on the company. JMP Securities reiterated a “market outperform” rating and issued a $380.00 target price on shares of MongoDB in a research report on Wednesday, December 11th. Morgan Stanley decreased their target price on MongoDB from $350.00 to $315.00 and set an “overweight” rating on the stock in a research report on Thursday. Macquarie started coverage on MongoDB in a research report on Thursday, December 12th. They issued a “neutral” rating and a $300.00 target price on the stock. Loop Capital decreased their target price on MongoDB from $400.00 to $350.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Finally, Needham & Company LLC decreased their target price on MongoDB from $415.00 to $270.00 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 assigned a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $319.87.

MongoDB Stock Performance

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

MongoDB (NASDAQ:MDB) last released its earnings results 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). The company 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 period last year, the company posted $0.86 earnings per share. On average, research analysts predict that MongoDB will post -1.78 earnings per share for the current fiscal year.

Insider Buying and Selling at MongoDB

In other MongoDB news, CFO Michael Lawrence Gordon sold 5,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 80,307 shares of the company’s stock, valued at approximately $21,510,229.95. The trade was a 5.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Thomas Bull sold 1,000 shares of the business’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 value of $355,920.00. Following the completion of the transaction, the chief accounting officer now directly owns 15,068 shares in the company, valued at approximately $5,363,002.56. This trade represents a 6.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,314 shares of company stock valued at $13,337,753. 3.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MongoDB

Several institutional investors have recently added to or reduced their stakes in MDB. OneDigital Investment Advisors LLC raised its position in shares of MongoDB by 3.9% during the fourth quarter. OneDigital Investment Advisors LLC now owns 1,044 shares of the company’s stock worth $243,000 after purchasing an additional 39 shares during the period. Nisa Investment Advisors LLC raised its position in shares of MongoDB by 3.8% during the third quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the company’s stock worth $295,000 after purchasing an additional 40 shares during the period. Hilltop National Bank raised its position in shares of MongoDB by 47.2% during the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after purchasing an additional 42 shares during the period. Avestar Capital LLC raised its position in shares of MongoDB by 2.0% during the fourth quarter. Avestar Capital LLC now owns 2,165 shares of the company’s stock worth $504,000 after purchasing an additional 42 shares during the period. Finally, Rakuten Securities Inc. raised its position in shares of MongoDB by 16.5% during the third quarter. Rakuten Securities Inc. now owns 332 shares of the company’s stock worth $90,000 after purchasing an additional 47 shares during the period. 89.29% of the stock is 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.