Truist Financial Lowers MongoDB (NASDAQ:MDB) Price Target to $275.00

MongoDB (NASDAQ:MDB) had its target price cut by Truist Financial from $300.00 to $275.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price target would suggest a potential upside of 54.47% from the company’s current price.

A number of other research analysts have also recently issued reports on the stock. Wedbush decreased their price objective on shares of MongoDB from $360.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Piper Sandler lowered their price target on MongoDB from $425.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Needham & Company LLC reduced their price objective on MongoDB from $415.00 to $270.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Canaccord Genuity Group lowered their target price on MongoDB from $385.00 to $320.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Finally, Cantor Fitzgerald initiated coverage on shares of MongoDB in a research note on Wednesday, March 5th. They issued an “overweight” rating and a $344.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, MongoDB has a consensus rating of “Moderate Buy” and an average target price of $319.87.

MongoDB Price Performance

Shares of NASDAQ MDB opened at $178.03 on Monday. The stock has a market capitalization of $14.45 billion, a PE ratio of -64.97 and a beta of 1.30. MongoDB has a fifty-two week low of $172.95 and a fifty-two week high of $387.19. The business has a fifty day moving average price of $245.56 and a two-hundred day moving average price of $265.95.

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 the consensus estimate of $0.64 by ($0.45). MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The firm had revenue of $548.40 million for the quarter, compared to the consensus estimate of $519.65 million. During the same period in the prior year, the company earned $0.86 EPS. On average, equities analysts expect that MongoDB will post -1.78 EPS for the current year.

Insider Buying and Selling

In other MongoDB news, CFO Michael Lawrence Gordon sold 1,245 shares of the firm’s 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 $291,442.05. Following the completion of the sale, the chief financial officer now owns 79,062 shares of the company’s stock, valued at approximately $18,507,623.58. This trade represents a 1.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Cedric Pech sold 287 shares of the company’s 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 $67,183.83. Following the transaction, the insider now directly owns 24,390 shares in the company, valued at $5,709,455.10. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,139 shares of company stock valued at $11,328,869 over the last ninety days. 3.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. B.O.S.S. Retirement Advisors LLC purchased a new stake in shares of MongoDB during the 4th quarter worth approximately $606,000. Geode Capital Management LLC increased its position in MongoDB by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock worth $331,776,000 after buying an additional 34,814 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new stake in MongoDB in the fourth quarter worth $3,515,000. Nisa Investment Advisors LLC raised its stake in shares of MongoDB by 428.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,755 shares of the company’s stock valued at $1,340,000 after buying an additional 4,665 shares during the period. Finally, HighTower Advisors LLC lifted its position in shares of MongoDB by 2.0% during the 4th quarter. HighTower Advisors LLC now owns 18,773 shares of the company’s stock valued at $4,371,000 after buying an additional 372 shares during the last quarter. 89.29% of the stock is owned by 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.