Loop Capital Issues Pessimistic Forecast for MongoDB (NASDAQ:MDB) Stock Price

MongoDB (NASDAQ:MDB) had its price objective decreased by equities researchers at Loop Capital from $400.00 to $350.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Loop Capital’s price objective points to a potential upside of 30.78% from the company’s previous close.

Other analysts also recently issued research reports about the company. Royal Bank of Canada lifted their price target on MongoDB from $350.00 to $400.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Oppenheimer raised their price objective on MongoDB from $350.00 to $400.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. KeyCorp lifted their target price on MongoDB from $330.00 to $375.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Needham & Company LLC increased their price target on MongoDB from $335.00 to $415.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, China Renaissance began coverage on MongoDB in a research report on Tuesday, January 21st. They set a “buy” rating and a $351.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, MongoDB has a consensus rating of “Moderate Buy” and an average target price of $359.33.

MongoDB Trading Up 0.1 %

Shares of MDB stock traded up $0.19 on Monday, hitting $267.62. The stock had a trading volume of 305,191 shares, compared to its average volume of 1,456,005. MongoDB has a twelve month low of $212.74 and a twelve month high of $443.09. The company has a fifty day moving average price of $262.73 and a two-hundred day moving average price of $275.27. The firm has a market cap of $19.93 billion, a P/E ratio of -97.45 and a beta of 1.28.

MongoDB (NASDAQ:MDB) last posted its earnings results on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.48. The firm had revenue of $529.40 million during the quarter, compared to analysts’ expectations of $497.39 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company’s revenue was up 22.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.96 earnings per share. On average, analysts expect that MongoDB will post -1.78 earnings per share for the current year.

Insider Transactions at MongoDB

In related news, CEO Dev Ittycheria sold 8,335 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $267.48, for a total transaction of $2,229,445.80. Following the transaction, the chief executive officer now directly owns 217,294 shares of the company’s stock, valued at approximately $58,121,799.12. This trade represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael Lawrence Gordon sold 5,000 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $267.85, for a total transaction of $1,339,250.00. Following the completion of the sale, the chief financial officer now directly owns 80,307 shares of the company’s stock, valued at $21,510,229.95. This represents a 5.86 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,314 shares of company stock valued at $12,525,863. 3.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MongoDB

A number of hedge funds have recently added to or reduced their stakes in MDB. OneDigital Investment Advisors LLC grew its holdings in shares of MongoDB by 3.9% during the 4th quarter. OneDigital Investment Advisors LLC now owns 1,044 shares of the company’s stock worth $243,000 after purchasing an additional 39 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in MongoDB by 3.8% during the third quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the company’s stock worth $295,000 after buying an additional 40 shares in the last quarter. Hilltop National Bank increased its holdings in MongoDB by 47.2% in the 4th quarter. Hilltop National Bank now owns 131 shares of the company’s stock valued at $30,000 after buying an additional 42 shares during the period. Avestar Capital LLC increased its holdings in MongoDB by 2.0% in the 4th quarter. Avestar Capital LLC now owns 2,165 shares of the company’s stock valued at $504,000 after buying an additional 42 shares during the period. Finally, Rakuten Securities Inc. raised its position in shares of MongoDB by 16.5% in the 3rd quarter. Rakuten Securities Inc. now owns 332 shares of the company’s stock valued at $90,000 after buying an additional 47 shares in the last quarter. 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.