MongoDB (NASDAQ:MDB) Given New $330.00 Price Target at Citigroup

MongoDB (NASDAQ:MDB - Free Report) had its price target cut by Citigroup from $430.00 to $330.00 in a research note released on Tuesday morning, Marketbeat.com reports. They currently have a buy rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Tigress Financial raised their price objective 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. Oppenheimer decreased their target price on MongoDB from $400.00 to $330.00 and set an "outperform" rating on the stock in a research report on Thursday, March 6th. Stifel Nicolaus lowered their price target on MongoDB from $425.00 to $340.00 and set a "buy" rating on the stock in a research note on Thursday, March 6th. China Renaissance started coverage on MongoDB in a report on Tuesday, January 21st. They set a "buy" rating and a $351.00 price objective on the stock. Finally, Bank of America cut their target price on MongoDB from $420.00 to $286.00 and set a "buy" rating for the company in a research note 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. Based on data from MarketBeat, MongoDB currently has an average rating of "Moderate Buy" and a consensus target price of $312.84.

MongoDB Price Performance

Shares of MDB stock traded down $8.95 during trading on Tuesday, reaching $154.39. The company had a trading volume of 3,888,420 shares, compared to its average volume of 1,758,615. The firm's 50 day simple moving average is $236.68 and its two-hundred day simple moving average is $262.08. MongoDB has a one year low of $151.52 and a one year high of $387.19. The company has a market capitalization of $12.53 billion, a PE ratio of -56.35 and a beta of 1.49.

MongoDB (NASDAQ:MDB - Get Free Report) 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). The firm had revenue of $548.40 million during the quarter, compared to the consensus estimate of $519.65 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. During the same period in the prior year, the business earned $0.86 EPS. Analysts forecast that MongoDB will post -1.78 earnings per share for the current year.

Insider Activity

In other news, Director Dwight A. Merriman sold 1,045 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $242.67, for a total value of $253,590.15. Following the transaction, the director now owns 85,652 shares of the company's stock, valued at $20,785,170.84. This represents a 1.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Cedric Pech sold 1,690 shares of MongoDB stock in a transaction 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 sale, the insider now directly owns 57,634 shares of the company's stock, valued at approximately $9,985,666.84. This trade represents a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 58,060 shares of company stock valued at $13,461,875 over the last 90 days. 3.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On MongoDB

Hedge funds have recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL acquired a new stake in MongoDB during the 4th quarter worth $29,000. Hilltop National Bank raised 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 worth $30,000 after purchasing an additional 42 shares during the period. Continuum Advisory LLC lifted its holdings in shares of MongoDB by 621.1% during the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company's stock valued at $40,000 after purchasing an additional 118 shares in the last quarter. NCP Inc. acquired a new position in shares of MongoDB in the 4th quarter valued at approximately $35,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in MongoDB during the 3rd quarter worth approximately $44,000. 89.29% of the stock is currently 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.