Royal Bank of Canada Has Lowered Expectations for MongoDB (NASDAQ:MDB) Stock Price

MongoDB (NASDAQ:MDB) had its price objective cut by equities research analysts at Royal Bank of Canada from $400.00 to $320.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 51.68% from the stock’s current price.

A number of other research analysts have also commented on MDB. Morgan Stanley decreased their price objective on MongoDB from $350.00 to $315.00 and set an “overweight” rating on the stock in a research report on Thursday. Needham & Company LLC decreased their price target on MongoDB from $415.00 to $270.00 and set a “buy” rating on the stock in a report on Thursday. Citigroup lifted their price objective on MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. UBS Group set a $350.00 target price on shares of MongoDB in a research report on Tuesday. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $380.00 target price on shares of MongoDB in a research note on Wednesday, December 11th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat.com, MongoDB has a consensus rating of “Moderate Buy” and an average price target of $337.94.

MongoDB Trading Down 20.1 %

NASDAQ MDB traded down $53.15 on Thursday, hitting $210.98. 3,311,937 shares of the company were exchanged, compared to its average volume of 1,614,067. MongoDB has a 1-year low of $200.36 and a 1-year high of $424.00. The firm has a 50 day moving average of $263.70 and a two-hundred day moving average of $275.28. The company has a market cap of $15.71 billion, a P/E ratio of -77.00 and a beta of 1.30.

MongoDB (NASDAQ:MDB) last announced 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 company had revenue of $548.40 million during the quarter, compared to the consensus estimate of $519.65 million. During the same period in the prior year, the firm posted $0.86 earnings per share. Research analysts anticipate that MongoDB will post -1.78 EPS for the current fiscal year.

Insider Activity at MongoDB

In related news, CEO Dev Ittycheria sold 8,335 shares of the stock in a transaction dated Friday, January 17th. The stock was 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 directly owns 217,294 shares in the company, valued at approximately $55,379,548.84. This trade represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Cedric Pech sold 287 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total value of $67,183.83. Following the completion of the sale, the insider now owns 24,390 shares in the company, valued at $5,709,455.10. The trade was a 1.16 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,314 shares of company stock valued at $13,337,753. 3.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Strategic Investment Solutions Inc. IL acquired a new position in shares of MongoDB during the 4th quarter worth about $29,000. Hilltop National Bank raised its holdings in MongoDB by 47.2% during the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after acquiring an additional 42 shares in the last quarter. NCP Inc. acquired a new position in MongoDB during the fourth quarter valued at approximately $35,000. Brooklyn Investment Group bought a new position in MongoDB in the third quarter valued at approximately $36,000. Finally, Continuum Advisory LLC increased its position in shares of MongoDB by 621.1% during the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock worth $40,000 after purchasing an additional 118 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.