MongoDB, Inc. (NASDAQ:MDB - Get Free Report)'s stock price was down 5.6% during mid-day trading on Friday . The stock traded as low as $271.50 and last traded at $272.35. Approximately 2,358,962 shares were traded during mid-day trading, an increase of 55% from the average daily volume of 1,522,469 shares. The stock had previously closed at $288.61.
Analysts Set New Price Targets
Several equities research analysts have recently commented on the company. Canaccord Genuity Group boosted their price objective on MongoDB from $325.00 to $385.00 and gave the company a "buy" rating in a report on Wednesday. Oppenheimer boosted their price target on shares of MongoDB from $350.00 to $400.00 and gave the company an "outperform" rating in a research note on Tuesday. Royal Bank of Canada raised their price objective on shares of MongoDB from $350.00 to $400.00 and gave the company an "outperform" rating in a research note on Tuesday. Mizuho lifted their price objective on shares of MongoDB from $275.00 to $320.00 and gave the company a "neutral" rating in a report on Tuesday. Finally, Needham & Company LLC upped their target price on shares of MongoDB from $335.00 to $415.00 and gave the stock a "buy" rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, MongoDB currently has an average rating of "Moderate Buy" and a consensus price target of $370.08.
Check Out Our Latest Stock Report on MongoDB
MongoDB Stock Down 7.4 %
The firm has a 50 day moving average of $293.17 and a 200 day moving average of $268.08. The firm has a market cap of $19.74 billion, a PE ratio of -97.51 and a beta of 1.17.
MongoDB (NASDAQ:MDB - Get Free Report) last issued its quarterly earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, beating analysts' consensus estimates of $0.68 by $0.48. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The firm had revenue of $529.40 million for the quarter, compared to analysts' expectations of $497.39 million. During the same quarter in the prior year, the firm earned $0.96 EPS. The business's revenue for the quarter was up 22.3% compared to the same quarter last year. On average, research analysts anticipate that MongoDB, Inc. will post -2.29 EPS for the current year.
Insider Transactions at MongoDB
In other news, CRO Cedric Pech sold 302 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total value of $77,387.50. Following the sale, the executive now directly owns 33,440 shares of the company's stock, valued at approximately $8,569,000. This represents a 0.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Thomas Bull sold 1,000 shares of the firm's stock in a transaction that occurred on 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 owns 15,068 shares of the company's stock, valued at $5,363,002.56. This trade represents a 6.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,600 shares of company stock worth $7,611,849 over the last quarter. Corporate insiders own 3.60% of the company's stock.
Hedge Funds Weigh In On MongoDB
A number of institutional investors have recently added to or reduced their stakes in the business. MFA Wealth Advisors LLC bought a new stake in shares of MongoDB during the 2nd quarter worth $25,000. Quarry LP lifted its stake in MongoDB by 2,580.0% during the second quarter. Quarry LP now owns 134 shares of the company's stock worth $33,000 after purchasing an additional 129 shares during the last quarter. Brooklyn Investment Group bought a new stake in MongoDB during the third quarter worth about $36,000. 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 worth $40,000 after purchasing an additional 118 shares in the last quarter. Finally, Hantz Financial Services Inc. bought a new position in shares of MongoDB during the 2nd quarter valued at about $35,000. 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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