MongoDB (NASDAQ:MDB) Price Target Lowered to $330.00 at Citigroup

MongoDB (NASDAQ:MDB) had its target price trimmed by Citigroup from $430.00 to $330.00 in a report released on Tuesday, MarketBeat Ratings reports. The firm currently has a buy rating on the stock.

Several other research analysts have also commented on the stock. Robert W. Baird dropped their price objective on shares of MongoDB from $390.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. DA Davidson boosted their target price on shares of MongoDB from $340.00 to $405.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Monness Crespi & Hardt raised shares of MongoDB from a “sell” rating to a “neutral” rating in a research note on Monday, March 3rd. Scotiabank reissued a “sector perform” rating and issued a $240.00 price objective (down from $275.00) on shares of MongoDB in a research report on Wednesday, March 5th. Finally, Morgan Stanley decreased their price target on shares of MongoDB from $350.00 to $315.00 and set an “overweight” rating for the company 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 company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $312.84.

MongoDB Price Performance

MDB opened at $163.34 on Tuesday. The company has a 50 day simple moving average of $238.83 and a two-hundred day simple moving average of $263.02. The firm has a market cap of $13.26 billion, a P/E ratio of -59.61 and a beta of 1.49. MongoDB has a 1-year low of $160.29 and a 1-year high of $387.19.

MongoDB (NASDAQ:MDB) last issued 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). The company had revenue of $548.40 million for the quarter, compared to the consensus estimate of $519.65 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. During the same quarter in the prior year, the company posted $0.86 EPS. Equities analysts anticipate that MongoDB will post -1.78 earnings per share for the current year.

Insider Buying and Selling at MongoDB

In other news, Director Hope F. Cochran sold 1,175 shares of the business’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $174.69, for a total transaction of $205,260.75. Following the transaction, the director now directly owns 19,333 shares in the company, valued at $3,377,281.77. The trade was a 5.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Dwight A. Merriman sold 885 shares of MongoDB stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $292.05, for a total value of $258,464.25. Following the completion of the sale, the director now directly owns 83,845 shares in the company, valued at $24,486,932.25. This represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,032 shares of company stock worth $9,818,567. 3.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MongoDB

Institutional investors have recently made changes to their positions in the stock. Strategic Investment Solutions Inc. IL purchased a new position in MongoDB in the fourth quarter valued at about $29,000. Hilltop National Bank boosted its stake in shares of MongoDB by 47.2% during the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock valued at $30,000 after acquiring an additional 42 shares during the last quarter. NCP Inc. acquired a new position in MongoDB in the 4th quarter valued at about $35,000. Continuum Advisory LLC lifted its stake 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 period. Finally, Versant Capital Management Inc increased its stake in shares of MongoDB by 1,100.0% during the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock valued at $42,000 after acquiring an additional 165 shares during the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

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.