MongoDB (NASDAQ:MDB) Price Target Lowered to $280.00 at Piper Sandler

MongoDB (NASDAQ:MDB) had its price target dropped by research analysts at Piper Sandler from $425.00 to $280.00 in a report released on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s target price would suggest a potential upside of 33.74% from the company’s current price.

MDB has been the subject of several other reports. KeyCorp upped their price objective on MongoDB from $330.00 to $375.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Citigroup upped their price target on MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a report on Monday, December 16th. Needham & Company LLC reduced their price objective on shares of MongoDB from $415.00 to $270.00 and set a “buy” rating for the company in a research report on Thursday. Macquarie started coverage on shares of MongoDB in a report on Thursday, December 12th. They issued a “neutral” rating and a $300.00 target price for the company. Finally, Tigress Financial lifted their price target on shares of MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. One investment 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. According to MarketBeat.com, MongoDB has a consensus rating of “Moderate Buy” and an average target price of $331.65.

MongoDB Trading Down 20.7 %

MongoDB stock traded down $54.77 during trading on Thursday, hitting $209.36. The company had a trading volume of 3,662,394 shares, compared to its average volume of 1,615,806. The company’s 50 day simple moving average is $263.70 and its 200-day simple moving average is $275.28. MongoDB has a 1-year low of $200.36 and a 1-year high of $424.00. The stock has a market cap of $15.59 billion, a price-to-earnings ratio of -76.92 and a beta of 1.30.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data 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 analysts’ expectations 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 period in the prior year, the company posted $0.86 EPS. As a group, analysts forecast that MongoDB will post -1.78 earnings per share for the current fiscal year.

Insider Activity at MongoDB

In other news, CFO Michael Lawrence Gordon sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $267.85, for a total value of $1,339,250.00. Following the transaction, the chief financial officer now owns 80,307 shares in the company, valued at $21,510,229.95. This trade represents a 5.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Thomas Bull sold 1,000 shares of MongoDB stock in a transaction on Monday, December 9th. The stock was sold at an average price of $355.92, for a total transaction of $355,920.00. Following the transaction, the chief accounting officer now directly owns 15,068 shares in the company, valued at $5,363,002.56. This represents a 6.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,314 shares of company stock worth $13,337,753 in the last 90 days. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. B.O.S.S. Retirement Advisors LLC purchased a new position in MongoDB in the fourth quarter valued at about $606,000. Aigen Investment Management LP purchased a new stake in shares of MongoDB during the 3rd quarter worth approximately $1,045,000. Geode Capital Management LLC raised its holdings in shares of MongoDB by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock worth $331,776,000 after purchasing an additional 34,814 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in MongoDB in the third quarter valued at approximately $4,366,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in MongoDB by 2.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 278,419 shares of the company’s stock valued at $75,271,000 after purchasing an additional 7,575 shares during 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.