MongoDB (NASDAQ:MDB) Price Target Cut to $330.00 by Analysts at Barclays

MongoDB (NASDAQ:MDB - Free Report) had its price target cut by Barclays from $400.00 to $330.00 in a research report released on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages also recently issued reports on MDB. Canaccord Genuity Group raised their price objective on shares of MongoDB from $325.00 to $385.00 and gave the stock a "buy" rating in a research note on Wednesday, December 11th. JMP Securities reissued a "market outperform" rating and issued a $380.00 price target on shares of MongoDB in a research note on Wednesday, December 11th. Oppenheimer lifted their target price on MongoDB from $350.00 to $400.00 and gave the stock an "outperform" rating in a report on Tuesday, December 10th. Morgan Stanley boosted their price objective on shares of MongoDB from $340.00 to $350.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 10th. Finally, KeyCorp lifted their price target on MongoDB from $330.00 to $375.00 and gave the stock an "overweight" rating in a report on Thursday, December 5th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $364.64.

MongoDB Stock Down 1.4 %

Shares of MongoDB stock traded down $3.46 during trading hours on Friday, hitting $245.22. 1,245,263 shares of the company's stock traded hands, compared to its average volume of 1,630,053. The stock has a 50 day simple moving average of $282.39 and a 200-day simple moving average of $269.01. The company has a market cap of $18.26 billion, a PE ratio of -89.50 and a beta of 1.25. MongoDB has a twelve month low of $212.74 and a twelve month high of $509.62.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its earnings results on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.48. The business 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 quarterly revenue was up 22.3% on a year-over-year basis. During the same quarter last year, the business posted $0.96 earnings per share. As a group, equities research analysts predict that MongoDB will post -1.86 EPS for the current year.

Insider Activity

In other MongoDB news, CAO Thomas Bull sold 1,000 shares of the business's stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $355.92, for a total transaction of $355,920.00. Following the sale, the chief accounting officer now owns 15,068 shares of the company's stock, valued at approximately $5,363,002.56. The trade was a 6.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Cedric Pech sold 287 shares of MongoDB stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total transaction of $67,183.83. Following the sale, the insider now owns 24,390 shares of the company's stock, valued at approximately $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. In the last 90 days, insiders have sold 30,161 shares of company stock valued at $8,427,806. 3.60% of the stock is currently owned by insiders.

Institutional Trading of MongoDB

Institutional investors have recently bought and sold shares of the business. Private Advisor Group LLC grew its holdings in shares of MongoDB by 167.4% during the second quarter. Private Advisor Group LLC now owns 6,324 shares of the company's stock worth $1,581,000 after buying an additional 3,959 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of MongoDB by 1,677.3% during the second quarter. Acadian Asset Management LLC now owns 3,679 shares of the company's stock worth $916,000 after buying an additional 3,472 shares during the period. Quest Partners LLC acquired a new position in MongoDB during the 2nd quarter worth approximately $160,000. Choreo LLC boosted its holdings in MongoDB by 187.1% in the second quarter. Choreo LLC now owns 2,291 shares of the company's stock valued at $603,000 after purchasing an additional 1,493 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in shares of MongoDB by 6.5% in the 2nd quarter. Daiwa Securities Group Inc. now owns 9,191 shares of the company's stock valued at $2,297,000 after purchasing an additional 563 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

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.