Stifel Nicolaus Lowers MongoDB (NASDAQ:MDB) Price Target to $340.00

MongoDB (NASDAQ:MDB - Get Free Report) had its price target lowered by analysts at Stifel Nicolaus from $425.00 to $340.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Stifel Nicolaus' target price suggests a potential upside of 81.19% from the stock's previous close.

A number of other research analysts have also recently issued reports on MDB. Monness Crespi & Hardt upgraded shares of MongoDB from a "sell" rating to a "neutral" rating in a report on Monday, March 3rd. Rosenblatt Securities reiterated a "buy" rating and issued a $350.00 price target on shares of MongoDB in a report on Tuesday, March 4th. DA Davidson upped their price target on shares of MongoDB from $340.00 to $405.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. Wedbush reduced their price target on shares of MongoDB from $360.00 to $300.00 and set an "outperform" rating for the company in a report on Thursday. Finally, UBS Group set a $350.00 price target on shares of MongoDB in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $319.87.

MongoDB Stock Down 2.8 %

NASDAQ MDB traded down $5.33 during trading on Thursday, reaching $187.65. 5,777,748 shares of the stock traded hands, compared to its average volume of 1,644,879. The firm has a market cap of $13.97 billion, a price-to-earnings ratio of -68.49 and a beta of 1.30. The stock's 50-day moving average price is $261.68 and its 200 day moving average price is $274.47. MongoDB has a fifty-two week low of $181.05 and a fifty-two week high of $387.19.

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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 firm had revenue of $548.40 million for the quarter, compared to analyst estimates of $519.65 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. During the same quarter in the prior year, the firm posted $0.86 EPS. Analysts anticipate that MongoDB will post -1.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Michael Lawrence Gordon sold 5,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $267.85, for a total value of $1,339,250.00. Following the transaction, the chief financial officer now directly owns 80,307 shares of the company's stock, valued at $21,510,229.95. This represents a 5.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Thomas Bull sold 1,000 shares of the 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 transaction, the chief accounting officer now directly owns 15,068 shares in the company, valued at $5,363,002.56. The trade was a 6.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,314 shares of company stock valued at $13,337,753. 3.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MongoDB

Several large investors have recently modified their holdings of MDB. Nisa Investment Advisors LLC grew its stake in shares of MongoDB by 3.8% in the third quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the company's stock valued at $295,000 after acquiring an additional 40 shares in the last quarter. US Bancorp DE grew its stake in shares of MongoDB by 9.1% in the third quarter. US Bancorp DE now owns 3,869 shares of the company's stock valued at $1,046,000 after acquiring an additional 324 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of MongoDB in the third quarter valued at about $861,000. Principal Financial Group Inc. grew its stake in shares of MongoDB by 2.7% in the third quarter. Principal Financial Group Inc. now owns 6,095 shares of the company's stock valued at $1,648,000 after acquiring an additional 160 shares in the last quarter. Finally, Atria Investments Inc grew its stake in shares of MongoDB by 6.6% in the third quarter. Atria Investments Inc now owns 2,175 shares of the company's stock valued at $588,000 after acquiring an additional 135 shares in the last quarter. 89.29% of the stock is owned by institutional investors.

About MongoDB

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.