Shares of MongoDB, Inc. (NASDAQ:MDB - Get Free Report) reached a new 52-week low on Monday after Citigroup lowered their price target on the stock from $430.00 to $330.00. Citigroup currently has a buy rating on the stock. MongoDB traded as low as $171.21 and last traded at $174.84, with a volume of 155238 shares traded. The stock had previously closed at $178.03.
Other equities analysts also recently issued research reports about the stock. China Renaissance began coverage on shares of MongoDB in a research note on Tuesday, January 21st. They set a "buy" rating and a $351.00 target price for the company. Canaccord Genuity Group reduced their price objective on MongoDB from $385.00 to $320.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. Bank of America dropped their target price on MongoDB from $420.00 to $286.00 and set a "buy" rating on the stock in a report on Thursday, March 6th. JMP Securities reissued a "market outperform" rating and issued a $380.00 target price on shares of MongoDB in a research note on Wednesday, December 11th. Finally, The Goldman Sachs Group lowered their price target on MongoDB from $390.00 to $335.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. Seven research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, MongoDB currently has an average rating of "Moderate Buy" and a consensus price target of $312.84.
View Our Latest Research Report on MDB
Insider Transactions at MongoDB
In other MongoDB news, CEO Dev Ittycheria sold 8,335 shares of the company's stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $254.86, for a total value of $2,124,258.10. Following the completion of the sale, the chief executive officer now owns 217,294 shares in the company, valued at $55,379,548.84. This represents a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Dwight A. Merriman sold 1,045 shares of the firm's stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $242.67, for a total value of $253,590.15. Following the completion of the transaction, the director now directly owns 85,652 shares in the company, valued at $20,785,170.84. This trade represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,857 shares of company stock worth $9,613,306 in the last three months. Corporate insiders own 3.60% of the company's stock.
Hedge Funds Weigh In On MongoDB
Hedge funds have recently modified their holdings of the company. Norges Bank bought a new position in MongoDB in the 4th quarter worth $189,584,000. Marshall Wace LLP bought a new stake in shares of MongoDB in the 4th quarter worth about $110,356,000. Raymond James Financial Inc. bought a new stake in shares of MongoDB in the 4th quarter worth about $90,478,000. D1 Capital Partners L.P. purchased a new stake in shares of MongoDB during the 4th quarter valued at about $76,129,000. Finally, Amundi lifted its holdings in shares of MongoDB by 86.2% in the 4th quarter. Amundi now owns 693,740 shares of the company's stock valued at $172,519,000 after acquiring an additional 321,186 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors.
MongoDB Price Performance
The company has a 50-day moving average of $240.77 and a 200 day moving average of $263.72. The company has a market cap of $13.26 billion, a PE ratio of -59.61 and a beta of 1.30.
MongoDB (NASDAQ:MDB - Get Free Report) last announced 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). The company had revenue of $548.40 million during the quarter, compared to analysts' expectations 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 last year, the firm posted $0.86 EPS. Equities research analysts expect that MongoDB, Inc. will post -1.78 EPS for the current year.
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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