MongoDB (NASDAQ:MDB) Price Target Cut to $275.00 by Analysts at Truist Financial

MongoDB (NASDAQ:MDB) had its target price trimmed by Truist Financial from $300.00 to $275.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts have also weighed in on the stock. Guggenheim upgraded shares of MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 price objective for the company in a research note on Monday, January 6th. Barclays reduced their price target on shares of MongoDB from $330.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Wells Fargo & Company cut MongoDB from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $365.00 to $225.00 in a research report on Thursday, March 6th. KeyCorp downgraded MongoDB from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Finally, Scotiabank restated a “sector perform” rating and issued a $240.00 price target (down previously from $275.00) on shares of MongoDB in a research note on Wednesday, March 5th. Seven equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, MongoDB has a consensus rating of “Moderate Buy” and a consensus target price of $319.87.

MongoDB Stock Down 1.5 %

NASDAQ MDB opened at $175.40 on Monday. The stock’s 50 day moving average is $244.01 and its 200 day moving average is $265.11. The firm has a market capitalization of $14.24 billion, a PE ratio of -64.01 and a beta of 1.30. MongoDB has a twelve month low of $170.85 and a twelve month high of $387.19.

MongoDB (NASDAQ:MDB) last released 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). MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The business had revenue of $548.40 million during the quarter, compared to analysts’ expectations of $519.65 million. During the same period in the prior year, the company earned $0.86 earnings per share. On average, research analysts anticipate that MongoDB will post -1.78 earnings per share for the current year.

Insider Buying and Selling

In other MongoDB news, CEO Dev Ittycheria sold 8,335 shares of the 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 completion of the transaction, the chief executive officer now owns 217,294 shares in the company, valued at $55,379,548.84. This trade represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael Lawrence Gordon sold 1,245 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $291,442.05. Following the completion of the sale, the chief financial officer now owns 79,062 shares in the company, valued at approximately $18,507,623.58. This trade represents a 1.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,139 shares of company stock worth $11,328,869. 3.60% of the stock is owned by insiders.

Institutional Trading of MongoDB

Institutional investors have recently added to or reduced their stakes in the company. B.O.S.S. Retirement Advisors LLC purchased a new stake in shares of MongoDB in the fourth quarter worth approximately $606,000. Geode Capital Management LLC increased its stake in MongoDB by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock worth $331,776,000 after purchasing an additional 34,814 shares during the period. Union Bancaire Privee UBP SA bought a new stake in shares of MongoDB during the fourth quarter worth $3,515,000. Nisa Investment Advisors LLC boosted its stake in shares of MongoDB by 428.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,755 shares of the company’s stock valued at $1,340,000 after purchasing an additional 4,665 shares during the period. Finally, HighTower Advisors LLC grew its holdings in shares of MongoDB by 2.0% in the fourth quarter. HighTower Advisors LLC now owns 18,773 shares of the company’s stock worth $4,371,000 after purchasing an additional 372 shares during the last quarter. Institutional investors own 89.29% of the company’s stock.

About MongoDB

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.