MongoDB (NASDAQ:MDB) Given New $275.00 Price Target at Stifel Nicolaus

MongoDB (NASDAQ:MDB - Get Free Report) had its target price reduced by Stifel Nicolaus from $340.00 to $275.00 in a research note issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Stifel Nicolaus' target price suggests a potential upside of 74.01% from the company's current price.

Several other research firms have also weighed in on MDB. Canaccord Genuity Group dropped their price objective on shares of MongoDB from $385.00 to $320.00 and set a "buy" rating for the company in a report on Thursday, March 6th. Wells Fargo & Company cut shares of MongoDB from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $365.00 to $225.00 in a research note on Thursday, March 6th. Citigroup lowered their target price on shares of MongoDB from $430.00 to $330.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Monness Crespi & Hardt raised shares of MongoDB from a "sell" rating to a "neutral" rating in a research note on Monday, March 3rd. Finally, Needham & Company LLC dropped their target price on MongoDB from $415.00 to $270.00 and set a "buy" rating on the stock in a research report on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $310.74.

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MongoDB Stock Performance

Shares of MDB stock traded down $4.20 on Friday, reaching $158.04. 1,865,974 shares of the company's stock traded hands, compared to its average volume of 1,803,106. The business's 50 day moving average price is $220.46 and its two-hundred day moving average price is $255.98. The company has a market capitalization of $12.83 billion, a P/E ratio of -57.68 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 - Get Free Report) last issued its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.64 by ($0.45). The business had revenue of $548.40 million during the quarter, compared to the consensus estimate 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 quarter in the prior year, the company posted $0.86 earnings per share. Research analysts predict that MongoDB will post -1.78 earnings per share for the current year.

Insiders Place Their Bets

In other MongoDB news, CFO Srdjan Tanjga sold 525 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total transaction of $90,961.50. Following the completion of the sale, the chief financial officer now directly owns 6,406 shares of the company's stock, valued at approximately $1,109,903.56. This trade represents a 7.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Thomas Bull sold 301 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $173.25, for a total value of $52,148.25. Following the completion of the transaction, the chief accounting officer now directly owns 14,598 shares in the company, valued at approximately $2,529,103.50. The trade was a 2.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 57,015 shares of company stock valued at $13,208,285 over the last quarter. Company insiders own 3.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MDB. Strategic Investment Solutions Inc. IL acquired a new position in shares of MongoDB in the 4th quarter valued at $29,000. Hilltop National Bank lifted its stake in shares of MongoDB by 47.2% in the fourth quarter. Hilltop National Bank now owns 131 shares of the company's stock valued at $30,000 after buying an additional 42 shares during the period. Continuum Advisory LLC boosted its stake in MongoDB by 621.1% during the third quarter. Continuum Advisory LLC now owns 137 shares of the company's stock worth $40,000 after buying an additional 118 shares in the last quarter. NCP Inc. acquired a new position in MongoDB during the fourth quarter worth $35,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of MongoDB in the 3rd quarter worth approximately $44,000. 89.29% of the stock is owned by hedge funds and other institutional investors.

MongoDB Company Profile

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.