MongoDB (NASDAQ:MDB) Given New $335.00 Price Target at The Goldman Sachs Group

MongoDB (NASDAQ:MDB - Free Report) had its target price trimmed by The Goldman Sachs Group from $390.00 to $335.00 in a report issued on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other analysts have also issued reports on the company. Mizuho boosted their target price on MongoDB from $275.00 to $320.00 and gave the company a "neutral" rating in a research note on Tuesday, December 10th. Truist Financial dropped their price objective on shares of MongoDB from $400.00 to $300.00 and set a "buy" rating on the stock in a report on Thursday. Tigress Financial upped their price target on shares of MongoDB from $400.00 to $430.00 and gave the company a "buy" rating in a research note on Wednesday, December 18th. Scotiabank reiterated a "sector perform" rating and issued a $240.00 price objective (down from $275.00) on shares of MongoDB in a research note on Wednesday. Finally, Wedbush reduced their price target on MongoDB from $360.00 to $300.00 and set an "outperform" rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $319.87.

Remove Ads

MongoDB Price Performance

Shares of MongoDB stock traded down $11.39 during midday trading on Thursday, reaching $176.26. The company had a trading volume of 634,310 shares, compared to its average volume of 1,891,736. The stock has a fifty day moving average price of $261.68 and a 200 day moving average price of $274.47. MongoDB has a fifty-two week low of $174.22 and a fifty-two week high of $387.19. The firm has a market cap of $13.13 billion, a PE ratio of -64.39 and a beta of 1.30.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly 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). 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 the consensus estimate of $519.65 million. During the same quarter last year, the firm posted $0.86 EPS. As a group, sell-side analysts forecast that MongoDB will post -1.78 EPS for the current year.

Insiders Place Their Bets

In other news, Director Dwight A. Merriman sold 885 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $292.05, for a total transaction of $258,464.25. Following the completion of the sale, the director now directly owns 83,845 shares in the company, valued at approximately $24,486,932.25. This represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Michael Lawrence Gordon sold 5,000 shares of the firm's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $267.85, for a total value of $1,339,250.00. Following the completion of the sale, the chief financial officer now directly owns 80,307 shares in the company, valued at $21,510,229.95. The trade was a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,314 shares of company stock valued at $12,981,833 in the last ninety days. Company insiders own 3.60% of the company's stock.

Hedge Funds Weigh In On MongoDB

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank bought a new stake in MongoDB in the fourth quarter valued at $189,584,000. Jennison Associates LLC boosted its stake in shares of MongoDB by 23.6% during the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company's stock valued at $838,632,000 after purchasing an additional 592,038 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of MongoDB during the fourth quarter valued at about $110,356,000. Raymond James Financial Inc. bought a new position in MongoDB in the fourth quarter worth about $90,478,000. Finally, D1 Capital Partners L.P. bought a new stake in MongoDB during the 4th quarter valued at approximately $76,129,000. Institutional investors own 89.29% of the company's stock.

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.