Truist Financial Issues Pessimistic Forecast for MongoDB (NASDAQ:MDB) Stock Price

MongoDB (NASDAQ:MDB - Get Free Report) had its price objective cut by equities researchers at Truist Financial from $400.00 to $300.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Truist Financial's price target suggests a potential upside of 59.87% from the stock's previous close.

Several other research analysts also recently commented on MDB. Needham & Company LLC decreased their price objective on MongoDB from $415.00 to $270.00 and set a "buy" rating on the stock in a research note on Thursday. Monness Crespi & Hardt raised MongoDB from a "sell" rating to a "neutral" rating in a research note on Monday, March 3rd. Piper Sandler cut their target price on MongoDB from $425.00 to $280.00 and set an "overweight" rating for the company in a research report on Thursday. JMP Securities reiterated a "market outperform" rating and set a $380.00 target price on shares of MongoDB in a research report on Wednesday, December 11th. Finally, China Renaissance assumed coverage on MongoDB in a research report on Tuesday, January 21st. They set a "buy" rating and a $351.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $319.87.

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MongoDB Stock Performance

Shares of NASDAQ MDB traded down $5.33 during trading on Thursday, hitting $187.65. The company had a trading volume of 5,777,748 shares, compared to its average volume of 1,644,879. The stock has a 50 day simple moving average of $261.68 and a 200 day simple moving average of $274.47. MongoDB has a 12 month low of $181.05 and a 12 month high of $387.19. The firm has a market capitalization of $13.97 billion, a P/E ratio of -68.49 and a beta of 1.30.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.45). MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company had revenue of $548.40 million during the quarter, compared to the consensus estimate of $519.65 million. During the same period last year, the business earned $0.86 EPS. As a group, analysts predict that MongoDB will post -1.78 EPS for the current year.

Insider Transactions at MongoDB

In other news, insider Cedric Pech sold 287 shares of MongoDB stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value of $67,183.83. Following the completion of the transaction, the insider now owns 24,390 shares in the company, valued at approximately $5,709,455.10. The trade was a 1.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $270.63, for a total value of $811,890.00. Following the completion of the transaction, the director now owns 1,109,006 shares of the company's stock, valued at approximately $300,130,293.78. This trade represents a 0.27 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,314 shares of company stock worth $13,337,753. 3.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MongoDB

A number of institutional investors and hedge funds have recently modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of MongoDB during the 4th quarter worth approximately $13,270,000. Azzad Asset Management Inc. ADV lifted its stake in shares of MongoDB by 17.7% during the 4th quarter. Azzad Asset Management Inc. ADV now owns 7,519 shares of the company's stock worth $1,750,000 after acquiring an additional 1,132 shares during the last quarter. Infinitum Asset Management LLC bought a new stake in shares of MongoDB during the 4th quarter worth approximately $8,148,000. Polar Asset Management Partners Inc. bought a new stake in shares of MongoDB during the 4th quarter worth approximately $14,458,000. Finally, Mackenzie Financial Corp lifted its stake in shares of MongoDB by 47.8% during the 4th quarter. Mackenzie Financial Corp now owns 5,731 shares of the company's stock worth $1,334,000 after acquiring an additional 1,854 shares during the last quarter. 89.29% of the stock is owned by 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.