Truist Financial Cuts MongoDB (NASDAQ:MDB) Price Target to $275.00

MongoDB (NASDAQ:MDB - Get Free Report) had its target price dropped by equities researchers at Truist Financial from $300.00 to $275.00 in a research report issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. Truist Financial's price objective would suggest a potential upside of 68.36% from the stock's current price.

Several other equities analysts have also recently issued reports on the company. KeyCorp cut MongoDB from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. DA Davidson upped their price target on shares of MongoDB from $340.00 to $405.00 and gave the stock a "buy" rating in a research report on Tuesday, December 10th. Oppenheimer decreased their target price on MongoDB from $400.00 to $330.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. The Goldman Sachs Group cut their price objective on shares of MongoDB from $390.00 to $335.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. Finally, Loop Capital lowered their price target on shares of MongoDB from $400.00 to $350.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. Seven equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $312.84.

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MongoDB Stock Performance

Shares of NASDAQ MDB traded down $16.85 during midday trading on Monday, reaching $163.34. 3,340,481 shares of the company traded hands, compared to its average volume of 2,108,188. MongoDB has a 12 month low of $160.29 and a 12 month high of $387.19. The stock's 50-day simple moving average is $240.77 and its 200-day simple moving average is $263.72. The firm 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 posted its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate 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 return on equity of 12.22% and a negative net margin of 10.46%. During the same period in the previous year, the business posted $0.86 EPS. On average, equities research analysts expect that MongoDB will post -1.78 EPS for the current year.

Insider Activity at MongoDB

In other MongoDB news, CEO Dev Ittycheria sold 8,335 shares of the business's stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $279.99, for a total value of $2,333,716.65. Following the completion of the transaction, the chief executive officer now owns 217,294 shares of the company's stock, valued at $60,840,147.06. The trade was a 3.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dwight A. Merriman sold 3,000 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $270.63, for a total value of $811,890.00. Following the completion of the transaction, the director now owns 1,109,006 shares of the company's stock, valued at $300,130,293.78. The trade was a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,857 shares of company stock worth $9,613,306. 3.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. OneDigital Investment Advisors LLC increased its position in MongoDB by 3.9% during the 4th quarter. OneDigital Investment Advisors LLC now owns 1,044 shares of the company's stock valued at $243,000 after buying an additional 39 shares in the last quarter. Hilltop National Bank grew its position in MongoDB by 47.2% in the 4th quarter. Hilltop National Bank now owns 131 shares of the company's stock worth $30,000 after purchasing an additional 42 shares during the period. Avestar Capital LLC lifted its holdings in MongoDB by 2.0% in the fourth quarter. Avestar Capital LLC now owns 2,165 shares of the company's stock valued at $504,000 after acquiring an additional 42 shares during the period. Aigen Investment Management LP boosted its holdings in shares of MongoDB by 1.4% in the fourth quarter. Aigen Investment Management LP now owns 3,921 shares of the company's stock worth $913,000 after buying an additional 55 shares during the last quarter. Finally, Perigon Wealth Management LLC grew its position in shares of MongoDB by 2.7% during the 4th quarter. Perigon Wealth Management LLC now owns 2,528 shares of the company's stock valued at $627,000 after acquiring an additional 66 shares during the period. 89.29% of the stock is owned by hedge funds and other institutional investors.

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.