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Monness Crespi & Hardt downgraded shares of MongoDB (NASDAQ:MDB – Free Report) from a neutral rating to a sell rating in a report released on Monday morning, MarketBeat.com reports. Monness Crespi & Hardt currently has $220.00 target price on the stock.
Several other research firms have also commented on MDB. Macquarie began coverage on shares of MongoDB in a research report on Thursday, December 12th. They set a “neutral” rating and a $300.00 price objective for the company. Needham & Company LLC increased their price target on shares of MongoDB from $335.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Citigroup lifted their price target on MongoDB from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Piper Sandler restated an “overweight” rating and set a $425.00 price objective on shares of MongoDB in a research report on Tuesday, December 10th. Finally, UBS Group lifted their target price on MongoDB from $250.00 to $275.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, MongoDB has a consensus rating of “Moderate Buy” and a consensus price target of $365.63.
Check Out Our Latest Analysis on MongoDB
MongoDB Price Performance
MDB stock opened at $265.63 on Monday. MongoDB has a 1-year low of $212.74 and a 1-year high of $509.62. The business has a 50 day simple moving average of $293.17 and a two-hundred day simple moving average of $267.61. The company has a market capitalization of $19.62 billion, a price-to-earnings ratio of -97.69 and a beta of 1.17.
MongoDB (NASDAQ:MDB – Get Free Report) last announced its quarterly earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.68 by $0.48. The business had revenue of $529.40 million for the quarter, compared to analysts’ expectations of $497.39 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.96 EPS. Sell-side analysts anticipate that MongoDB will post -2.29 EPS for the current fiscal year.
Insiders Place Their Bets
In other MongoDB news, Director Dwight A. Merriman sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total transaction of $768,750.00. Following the completion of the sale, the director now directly owns 1,131,006 shares in the company, valued at approximately $289,820,287.50. The trade was a 0.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $355,920.00. Following the completion of the transaction, the chief accounting officer now owns 15,068 shares in the company, valued at approximately $5,363,002.56. This trade represents a 6.22 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,600 shares of company stock worth $7,611,849. 3.60% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On MongoDB
A number of large investors have recently modified their holdings of the business. Jennison Associates LLC increased its holdings in shares of MongoDB by 23.6% in the third 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 during the last quarter. Thrivent Financial for Lutherans increased its stake in shares of MongoDB by 1,098.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock worth $106,084,000 after acquiring an additional 388,979 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of MongoDB during the 2nd quarter worth $52,131,000. Avala Global LP acquired a new position in shares of MongoDB during the 3rd quarter valued at about $47,960,000. Finally, Renaissance Technologies LLC increased its position in MongoDB by 828.9% during the second quarter. Renaissance Technologies LLC now owns 183,000 shares of the company’s stock worth $45,743,000 after purchasing an additional 163,300 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.
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.
Further Reading
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