MongoDB (NASDAQ:MDB) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of MongoDB (NASDAQ:MDB) from a buy rating to a hold rating in a report published on Saturday.

A number of other equities analysts have also commented on MDB. Stifel Nicolaus lowered their price objective on MongoDB from $450.00 to $330.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. DA Davidson cut their target price on MongoDB from $465.00 to $385.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. Zacks Research lowered MongoDB from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 31st. Truist Financial decreased their price target on MongoDB from $500.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MongoDB in a research note on Friday, March 27th. Twenty-seven research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $366.16.

MongoDB Stock Up 0.3%

Shares of MongoDB stock opened at $264.11 on Friday. MongoDB has a twelve month low of $148.88 and a twelve month high of $444.72. The company has a 50-day simple moving average of $281.56 and a two-hundred day simple moving average of $341.23. The stock has a market capitalization of $21.23 billion, a price-to-earnings ratio of -300.13 and a beta of 1.60.

MongoDB (NASDAQ:MDB) last announced its earnings results on Monday, March 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.18. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. The firm had revenue of $695.07 million for the quarter, compared to analyst estimates of $669.40 million. During the same quarter in the prior year, the business posted $1.28 EPS. The business’s revenue was up 26.8% compared to the same quarter last year. On average, sell-side analysts anticipate that MongoDB will post -0.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Dwight A. Merriman sold 4,000 shares of MongoDB stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $252.33, for a total value of $1,009,320.00. Following the transaction, the director owned 476,896 shares in the company, valued at approximately $120,335,167.68. This trade represents a 0.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hope F. Cochran sold 1,566 shares of the business’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $249.33, for a total value of $390,450.78. Following the transaction, the director directly owned 24,093 shares of the company’s stock, valued at $6,007,107.69. This trade represents a 6.10% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 14,756 shares of company stock worth $3,734,893. Company insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC increased its position in MongoDB by 31.6% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,363 shares of the company’s stock worth $239,000 after purchasing an additional 327 shares in the last quarter. NewEdge Advisors LLC boosted its position in MongoDB by 55.0% in the first quarter. NewEdge Advisors LLC now owns 4,238 shares of the company’s stock valued at $743,000 after buying an additional 1,504 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of MongoDB during the second quarter worth $329,000. Cresset Asset Management LLC grew its stake in shares of MongoDB by 13.4% during the second quarter. Cresset Asset Management LLC now owns 3,138 shares of the company’s stock worth $659,000 after buying an additional 370 shares during the last quarter. Finally, Cerity Partners LLC increased its holdings in shares of MongoDB by 28.3% during the second quarter. Cerity Partners LLC now owns 12,215 shares of the company’s stock worth $2,565,000 after buying an additional 2,697 shares in the last quarter. Institutional investors own 89.29% of the company’s stock.

About MongoDB

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.