MongoDB (NASDAQ:MDB) Price Target Cut to $235.00 by Analysts at Morgan Stanley

MongoDB (NASDAQ:MDB) had its price objective lowered by equities research analysts at Morgan Stanley from $315.00 to $235.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 47.22% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Citigroup dropped their price objective on MongoDB from $430.00 to $330.00 and set a “buy” rating on the stock in a research note on Tuesday, April 1st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $350.00 target price on shares of MongoDB in a research report on Tuesday, March 4th. Piper Sandler reduced their target price on shares of MongoDB from $425.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Barclays dropped their price objective on MongoDB from $330.00 to $280.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Finally, Wells Fargo & Company lowered MongoDB from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $365.00 to $225.00 in a report on Thursday, March 6th. Seven analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, MongoDB currently has a consensus rating of “Moderate Buy” and a consensus target price of $303.97.

MongoDB Trading Up 0.7 %

NASDAQ:MDB traded up $1.05 during mid-day trading on Wednesday, reaching $159.63. The company’s stock had a trading volume of 386,323 shares, compared to its average volume of 1,799,709. The firm’s fifty day moving average price is $215.59 and its two-hundred day moving average price is $254.53. The stock has a market cap of $12.96 billion, a P/E ratio of -58.26 and a beta of 1.49. MongoDB has a 12-month low of $140.78 and a 12-month high of $387.19.

MongoDB (NASDAQ:MDB) last announced its earnings results 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). The business had revenue of $548.40 million for the quarter, compared to analyst estimates 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 previous year, the company earned $0.86 earnings per share. Analysts predict that MongoDB will post -1.78 earnings per share for the current fiscal year.

Insider Buying and Selling at MongoDB

In related news, insider Cedric Pech sold 1,690 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total value of $292,809.40. Following the completion of the transaction, the insider now directly owns 57,634 shares of the company’s stock, valued at $9,985,666.84. This trade represents a 2.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Dwight A. Merriman sold 1,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $265.00, for a total value of $265,000.00. Following the sale, the director now owns 1,116,006 shares of the company’s stock, valued at $295,741,590. This represents a 0.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 57,015 shares of company stock valued at $13,208,285. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL acquired a new stake in MongoDB in the 4th quarter worth about $29,000. Hilltop National Bank lifted its holdings in shares of MongoDB by 47.2% in the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after buying an additional 42 shares in the last quarter. NCP Inc. bought a new position in shares of MongoDB during the 4th quarter valued at about $35,000. Versant Capital Management Inc grew its stake in shares of MongoDB by 1,100.0% in the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock worth $42,000 after purchasing an additional 165 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of MongoDB in the 3rd quarter worth approximately $44,000. 89.29% of the stock is currently 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.