Barclays Has Lowered Expectations for MongoDB (NASDAQ:MDB) Stock Price

MongoDB (NASDAQ:MDB) had its price objective cut by Barclays from $330.00 to $280.00 in a report released on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

MDB has been the topic of a number of other research reports. JMP Securities reiterated a “market outperform” rating and issued a $380.00 price target on shares of MongoDB in a research report on Wednesday, December 11th. UBS Group set a $350.00 price target on MongoDB in a research report on Tuesday. Rosenblatt Securities reiterated a “buy” rating and issued a $350.00 price target on shares of MongoDB in a research report on Tuesday. Wedbush reduced their price target on MongoDB from $360.00 to $300.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Loop Capital reduced their price target on MongoDB from $400.00 to $350.00 and set a “buy” rating on the stock in a research report on Monday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, MongoDB has an average rating of “Moderate Buy” and an average target price of $322.61.

MongoDB Stock Down 26.9 %

Shares of MDB stock opened at $192.98 on Thursday. The firm has a market capitalization of $14.37 billion, a P/E ratio of -70.43 and a beta of 1.30. MongoDB has a twelve month low of $192.79 and a twelve month high of $413.87. The stock’s fifty day simple moving average is $262.69 and its 200 day simple moving average is $274.71.

MongoDB (NASDAQ:MDB) last released 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). MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The company had revenue of $548.40 million during the quarter, compared to the consensus estimate of $519.65 million. During the same quarter last year, the firm posted $0.86 EPS. As a group, equities research analysts expect that MongoDB will post -1.78 EPS for the current fiscal year.

Insider Transactions at MongoDB

In other news, CFO Michael Lawrence Gordon sold 5,000 shares of the 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Thomas Bull sold 169 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value of $39,561.21. Following the completion of the sale, the chief accounting officer now directly owns 14,899 shares of the company’s stock, valued at approximately $3,487,706.91. This trade represents a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,314 shares of company stock valued at $13,337,753 over the last ninety days. 3.60% of the stock is currently owned by insiders.

Institutional Trading of MongoDB

Several institutional investors and hedge funds have recently modified their holdings of MDB. Strategic Investment Solutions Inc. IL purchased a new stake in shares of MongoDB during the fourth quarter valued at approximately $29,000. Hilltop National Bank increased its position 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. Brooklyn Investment Group purchased a new stake in shares of MongoDB during the third quarter valued at approximately $36,000. Continuum Advisory LLC increased its position in shares of MongoDB by 621.1% during the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after acquiring an additional 118 shares during the last quarter. Finally, NCP Inc. purchased a new stake in shares of MongoDB during the fourth quarter valued at approximately $35,000. 89.29% of the stock is owned by hedge funds and other institutional investors.

About MongoDB

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.