MongoDB (NASDAQ:MDB - Free Report) had its price objective lowered by Macquarie from $300.00 to $215.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a neutral rating on the stock.
MDB has been the subject of a number of other reports. Truist Financial reduced their price objective on shares of MongoDB from $400.00 to $300.00 and set a "buy" rating for the company in a research note on Thursday. Barclays reduced their price target on shares of MongoDB from $330.00 to $280.00 and set an "overweight" rating for the company in a research note on Thursday. Scotiabank reiterated a "sector perform" rating and issued a $240.00 price target (down from $275.00) on shares of MongoDB in a research note on Wednesday. Stifel Nicolaus reduced their price target on shares of MongoDB from $425.00 to $340.00 and set a "buy" rating for the company in a research note on Thursday. Finally, China Renaissance started coverage on shares of MongoDB in a research note on Tuesday, January 21st. They issued a "buy" rating and a $351.00 price target for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat, MongoDB has an average rating of "Moderate Buy" and an average target price of $319.87.
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MongoDB Stock Down 2.8 %
Shares of NASDAQ:MDB traded down $5.33 on Friday, hitting $187.65. The company had a trading volume of 5,777,748 shares, compared to its average volume of 1,644,879. The firm's 50-day simple moving average is $261.68 and its two-hundred day simple moving average is $274.47. MongoDB has a 1 year low of $181.05 and a 1 year high of $387.19. The firm 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 quarterly 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 net margin of 10.46% and a negative return on equity of 12.22%. The business had revenue of $548.40 million for the quarter, compared to analysts' expectations of $519.65 million. During the same period last year, the business earned $0.86 earnings per share. Equities research analysts anticipate that MongoDB will post -1.78 EPS for the current year.
Insiders Place Their Bets
In other MongoDB news, insider Cedric Pech sold 287 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total transaction of $67,183.83. Following the transaction, the insider now directly owns 24,390 shares in the company, valued at $5,709,455.10. This represents a 1.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Thomas Bull sold 1,000 shares of the firm's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $355.92, for a total transaction of $355,920.00. Following the completion of the sale, the chief accounting officer now owns 15,068 shares in the company, valued at $5,363,002.56. This represents a 6.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,314 shares of company stock worth $13,337,753 in the last three months. Corporate insiders own 3.60% of the company's stock.
Institutional Trading of MongoDB
Institutional investors have recently modified their holdings of the company. Strategic Investment Solutions Inc. IL bought a new stake in shares of MongoDB in the 4th quarter valued at about $29,000. Hilltop National Bank boosted its holdings in shares of MongoDB by 47.2% in the 4th quarter. Hilltop National Bank now owns 131 shares of the company's stock valued at $30,000 after buying an additional 42 shares in the last quarter. NCP Inc. bought a new stake in shares of MongoDB in the 4th quarter valued at about $35,000. Brooklyn Investment Group bought a new stake in shares of MongoDB in the 3rd quarter valued at about $36,000. Finally, Continuum Advisory LLC boosted its holdings in shares of MongoDB by 621.1% in the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company's stock valued at $40,000 after buying an additional 118 shares in the last quarter. 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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