MongoDB (NASDAQ:MDB) Given New $330.00 Price Target at Citigroup

MongoDB (NASDAQ:MDB) had its price objective trimmed by Citigroup from $430.00 to $330.00 in a research note published on Tuesday morning, MarketBeat reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts have also weighed in on the stock. DA Davidson lifted their target price on shares of MongoDB from $340.00 to $405.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Wells Fargo & Company cut shares of MongoDB from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $365.00 to $225.00 in a report on Thursday, March 6th. Tigress Financial lifted their price target on MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. JMP Securities reiterated a “market outperform” rating and set a $380.00 price target on shares of MongoDB in a research report on Wednesday, December 11th. Finally, Scotiabank reissued a “sector perform” rating and issued a $240.00 price objective (down from $275.00) on shares of MongoDB in a report on Wednesday, March 5th. Seven investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $312.84.

MongoDB Price Performance

NASDAQ MDB opened at $176.61 on Tuesday. The company has a fifty day moving average of $242.38 and a 200 day moving average of $264.31. The company has a market capitalization of $14.34 billion, a PE ratio of -64.46 and a beta of 1.30. MongoDB has a 1 year low of $170.66 and a 1 year high of $387.19.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates 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 period last year, the firm earned $0.86 EPS. Research analysts expect that MongoDB will post -1.78 earnings per share for the current year.

Insider Activity

In related news, CFO Michael Lawrence Gordon sold 1,245 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value of $291,442.05. Following the transaction, the chief financial officer now directly owns 79,062 shares in the company, valued at approximately $18,507,623.58. This represents a 1.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Thomas Bull sold 169 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value of $39,561.21. Following the sale, the chief accounting officer now directly owns 14,899 shares of the company’s stock, valued at approximately $3,487,706.91. This trade represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,139 shares of company stock valued at $11,328,869. 3.60% of the stock is currently owned by insiders.

Institutional Trading of MongoDB

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in MongoDB by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 7,328,745 shares of the company’s stock worth $1,706,205,000 after buying an additional 23,942 shares during the period. Franklin Resources Inc. boosted its position 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 period. Geode Capital Management LLC increased its holdings in MongoDB by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 1,252,142 shares of the company’s stock valued at $290,987,000 after purchasing an additional 22,106 shares during the last quarter. First Trust Advisors LP raised its position in MongoDB by 12.6% in the fourth quarter. First Trust Advisors LP now owns 854,906 shares of the company’s stock valued at $199,031,000 after purchasing an additional 95,893 shares during the period. Finally, Norges Bank acquired a new position in MongoDB during the fourth quarter worth $189,584,000. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

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.