KeyCorp cut shares of MongoDB (NASDAQ:MDB - Free Report) from a strong-buy rating to a hold rating in a research report sent to investors on Wednesday morning,Zacks.com reports.
Several other research firms also recently issued reports on MDB. Macquarie assumed coverage on MongoDB in a research note on Thursday, December 12th. They set a "neutral" rating and a $300.00 price target for the company. Bank of America reduced their price objective on MongoDB from $420.00 to $286.00 and set a "buy" rating for the company in a research report on Thursday. The Goldman Sachs Group reduced their price objective on MongoDB from $390.00 to $335.00 and set a "buy" rating for the company in a research report on Thursday. Barclays cut their target price on MongoDB from $330.00 to $280.00 and set an "overweight" rating for the company in a research report on Thursday. Finally, Scotiabank restated a "sector perform" rating and set a $240.00 target price (down previously from $275.00) on shares of MongoDB in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $319.87.
View Our Latest Stock Report on MDB
MongoDB Trading Down 2.8 %
NASDAQ MDB traded down $5.33 on Wednesday, reaching $187.65. The stock had a trading volume of 5,777,748 shares, compared to its average volume of 1,644,879. The business has a 50 day moving average price of $261.68 and a 200 day moving average price of $274.23. MongoDB has a 1 year low of $181.05 and a 1 year high of $387.19. The company has a market capitalization of $13.97 billion, a price-to-earnings ratio of -68.49 and a beta of 1.30.
MongoDB (NASDAQ:MDB - Get Free Report) last issued its 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 firm had revenue of $548.40 million during the quarter, compared to analysts' expectations of $519.65 million. During the same quarter last year, the firm earned $0.86 EPS. On average, analysts anticipate that MongoDB will post -1.78 earnings per share for the current fiscal year.
Insider Buying and Selling
In other MongoDB news, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $270.63, for a total transaction of $811,890.00. Following the transaction, the director now directly owns 1,109,006 shares in the company, valued at approximately $300,130,293.78. The trade was a 0.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Thomas Bull sold 169 shares of MongoDB stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value of $39,561.21. Following the transaction, the chief accounting officer now owns 14,899 shares in the company, valued at approximately $3,487,706.91. This 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 three months. Company insiders own 3.60% of the company's stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of MongoDB in the fourth quarter valued at about $189,584,000. Jennison Associates LLC lifted its holdings in shares of MongoDB by 23.6% in the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company's stock valued at $838,632,000 after purchasing an additional 592,038 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of MongoDB in the fourth quarter valued at about $110,356,000. Raymond James Financial Inc. bought a new stake in shares of MongoDB in the fourth quarter valued at about $90,478,000. Finally, D1 Capital Partners L.P. acquired a new stake in shares of MongoDB in the fourth quarter valued at about $76,129,000. 89.29% of the stock is currently owned by institutional investors.
About MongoDB
(
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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.
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