Barclays Has Lowered Expectations for MongoDB (NASDAQ:MDB) Stock Price

MongoDB (NASDAQ:MDB) had its price target cut by research analysts at Barclays from $400.00 to $330.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 34.57% from the company’s current price.

Several other research analysts also recently issued reports on the company. Oppenheimer upped their price objective on MongoDB from $350.00 to $400.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. The Goldman Sachs Group upped their price objective on MongoDB from $340.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Needham & Company LLC upped their price objective on MongoDB from $335.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Morgan Stanley upped their price objective on MongoDB from $340.00 to $350.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Finally, Stifel Nicolaus upped their price objective on MongoDB from $325.00 to $360.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, MongoDB has a consensus rating of “Moderate Buy” and an average price target of $364.64.

MongoDB Price Performance

NASDAQ MDB opened at $245.22 on Friday. The firm has a market cap of $18.26 billion, a PE ratio of -89.50 and a beta of 1.25. MongoDB has a one year low of $212.74 and a one year high of $509.62. The stock’s 50 day simple moving average is $281.86 and its 200 day simple moving average is $269.39.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.48. The business had revenue of $529.40 million for the quarter, compared to analyst estimates of $497.39 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. MongoDB’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.96 EPS. As a group, equities analysts expect that MongoDB will post -1.86 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Thomas Bull sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was 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 owns 15,068 shares in the company, valued at $5,363,002.56. This trade represents a 6.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dwight A. Merriman sold 3,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $237.73, for a total value of $713,190.00. Following the completion of the transaction, the director now owns 1,117,006 shares of the company’s stock, valued at $265,545,836.38. The trade was a 0.27 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,161 shares of company stock worth $8,427,806. Corporate insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

Several hedge funds have recently modified their holdings of the stock. Hilltop National Bank lifted its stake in 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 during the last quarter. Quarry LP lifted its stake in MongoDB by 2,580.0% in the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock valued at $33,000 after purchasing an additional 129 shares during the last quarter. Brooklyn Investment Group acquired a new stake in MongoDB in the 3rd quarter valued at about $36,000. Continuum Advisory LLC lifted its stake in 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 during the last quarter. Finally, GAMMA Investing LLC lifted its stake in MongoDB by 178.8% in the 3rd quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock valued at $39,000 after purchasing an additional 93 shares during the last quarter. Institutional investors 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.