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

MongoDB (NASDAQ:MDB) had its price target trimmed by Scotiabank from $350.00 to $275.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a sector perform rating on the stock.

Several other research analysts have also recently issued reports on the company. China Renaissance initiated coverage on MongoDB in a research report on Tuesday. They set a “buy” rating and a $351.00 price objective for the company. Cantor Fitzgerald assumed coverage on MongoDB in a report on Friday, January 17th. They issued an “overweight” rating and a $344.00 price target for the company. Robert W. Baird raised their price objective on shares of MongoDB from $380.00 to $390.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Stifel Nicolaus upped their target price on shares of MongoDB from $325.00 to $360.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, KeyCorp lifted their price target on shares of MongoDB from $330.00 to $375.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $361.00.

MongoDB Stock Performance

NASDAQ:MDB opened at $257.86 on Tuesday. The stock has a market capitalization of $19.20 billion, a P/E ratio of -94.11 and a beta of 1.25. MongoDB has a fifty-two week low of $212.74 and a fifty-two week high of $509.62. The company has a 50 day moving average price of $277.47 and a 200 day moving average price of $269.11.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.48. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The firm had revenue of $529.40 million during the quarter, compared to analysts’ expectations of $497.39 million. During the same quarter in the previous year, the business posted $0.96 earnings per share. The business’s quarterly revenue was up 22.3% compared to the same quarter last year. Research analysts forecast that MongoDB will post -1.79 earnings per share for the current fiscal year.

Insider Activity at MongoDB

In other news, CAO Thomas Bull sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $355.92, for a total value of $355,920.00. Following the sale, the chief accounting officer now directly owns 15,068 shares in the company, valued at approximately $5,363,002.56. This represents a 6.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Dwight A. Merriman sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $269.57, for a total value of $808,710.00. Following the transaction, the director now owns 1,127,006 shares of the company’s stock, valued at $303,807,007.42. This trade represents a 0.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,821 shares of company stock worth $6,831,215 over the last three months. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Moody Lynn & Lieberson LLC lifted its position in MongoDB by 9.4% during the 4th quarter. Moody Lynn & Lieberson LLC now owns 10,225 shares of the company’s stock worth $2,380,000 after buying an additional 880 shares in the last quarter. B.O.S.S. Retirement Advisors LLC bought a new position in shares of MongoDB in the fourth quarter worth about $606,000. Exchange Traded Concepts LLC lifted its position in shares of MongoDB by 3.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 8,099 shares of the company’s stock worth $1,886,000 after purchasing an additional 263 shares in the last quarter. Nisa Investment Advisors LLC grew 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 last quarter. Finally, Sanders Morris Harris LLC bought a new stake in shares of MongoDB during the fourth quarter valued at approximately $2,794,000. 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.