MongoDB (NASDAQ:MDB) Given New $320.00 Price Target at Royal Bank of Canada

MongoDB (NASDAQ:MDB - Get Free Report) had its price target lowered by equities research analysts at Royal Bank of Canada from $400.00 to $320.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank of Canada's price objective points to a potential upside of 70.53% from the company's current price.

MDB has been the topic of a number of other research reports. Oppenheimer upped their price target on MongoDB from $350.00 to $400.00 and gave the company an "outperform" rating in a research report on Tuesday, December 10th. Rosenblatt Securities reiterated a "buy" rating and issued a $350.00 price target on shares of MongoDB in a research report on Tuesday. Stifel Nicolaus upped their price target on MongoDB from $325.00 to $360.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Barclays cut their target price on MongoDB from $400.00 to $330.00 and set an "overweight" rating on the stock in a research report on Friday, January 10th. Finally, Monness Crespi & Hardt raised MongoDB from a "sell" rating to a "neutral" rating in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $319.87.

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MongoDB Trading Down 2.8 %

MDB traded down $5.33 on Thursday, reaching $187.65. The stock had a trading volume of 5,777,748 shares, compared to its average volume of 1,663,327. MongoDB has a fifty-two week low of $181.05 and a fifty-two week high of $411.50. The firm has a 50-day moving average of $261.68 and a 200-day moving average of $274.23. 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $548.40 million during the quarter, compared to analyst estimates of $519.65 million. During the same period in the previous year, the company earned $0.86 EPS. Sell-side analysts anticipate that MongoDB will post -1.78 EPS for the current fiscal year.

Insider Activity at MongoDB

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

Hedge Funds Weigh In On MongoDB

Large investors have recently made changes to their positions in the stock. Strategic Investment Solutions Inc. IL bought a new position in shares of MongoDB in the fourth quarter worth $29,000. Hilltop National Bank boosted its holdings in shares of MongoDB by 47.2% in the fourth quarter. Hilltop National Bank now owns 131 shares of the company's stock worth $30,000 after acquiring an additional 42 shares during the period. Brooklyn Investment Group bought a new position in shares of MongoDB in the third quarter worth $36,000. Continuum Advisory LLC boosted its holdings in shares of MongoDB by 621.1% in the third quarter. Continuum Advisory LLC now owns 137 shares of the company's stock worth $40,000 after acquiring an additional 118 shares during the period. Finally, NCP Inc. bought a new position in shares of MongoDB in the fourth quarter worth $35,000. 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.