MongoDB (NASDAQ:MDB) Price Target Cut to $235.00 by Analysts at Morgan Stanley

MongoDB (NASDAQ:MDB) had its price objective lowered by Morgan Stanley from $315.00 to $235.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other analysts also recently weighed in on the stock. Daiwa Capital Markets began coverage on shares of MongoDB in a research note on Tuesday, April 1st. They issued an “outperform” rating and a $202.00 price target for the company. The Goldman Sachs Group dropped their target price on MongoDB from $390.00 to $335.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Oppenheimer decreased their price target on MongoDB from $400.00 to $330.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. China Renaissance assumed coverage on MongoDB in a research note on Tuesday, January 21st. They set a “buy” rating and a $351.00 price objective for the company. Finally, Needham & Company LLC decreased their target price on shares of MongoDB from $415.00 to $270.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, MongoDB has a consensus rating of “Moderate Buy” and an average target price of $303.97.

MongoDB Trading Up 0.9 %

MDB opened at $160.04 on Wednesday. The stock has a market capitalization of $12.99 billion, a P/E ratio of -58.41 and a beta of 1.49. The stock has a 50-day moving average price of $213.23 and a 200-day moving average price of $253.88. MongoDB has a 12-month low of $140.78 and a 12-month high of $387.19.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). The business had revenue of $548.40 million for the quarter, compared to the consensus estimate 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 quarter in the previous year, the business earned $0.86 earnings per share. On average, equities research analysts predict that MongoDB will post -1.78 EPS for the current year.

Insider Buying and Selling at MongoDB

In related news, CEO Dev Ittycheria sold 18,512 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total transaction of $3,207,389.12. Following the sale, the chief executive officer now directly owns 268,948 shares of the company’s stock, valued at approximately $46,597,930.48. This represents a 6.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Thomas Bull sold 301 shares of MongoDB stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.25, for a total transaction of $52,148.25. Following the completion of the transaction, the chief accounting officer now directly owns 14,598 shares of the company’s stock, valued at $2,529,103.50. This trade represents a 2.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 57,015 shares of company stock valued at $13,208,285. Corporate insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in MongoDB by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 7,328,745 shares of the company’s stock valued at $1,706,205,000 after purchasing an additional 23,942 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of MongoDB by 9.7% during the fourth quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company’s stock valued at $478,398,000 after buying an additional 181,962 shares during the last quarter. 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 worth $290,987,000 after buying an additional 22,106 shares in the last quarter. First Trust Advisors LP raised its position in MongoDB by 12.6% in the 4th quarter. First Trust Advisors LP now owns 854,906 shares of the company’s stock worth $199,031,000 after buying an additional 95,893 shares during the last quarter. Finally, Norges Bank bought a new position in MongoDB during the 4th quarter valued at about $189,584,000. 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.