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MongoDB (NASDAQ:MDB – Get Free Report) had its price target dropped by analysts at Barclays from $280.00 to $252.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 31.74% from the company’s previous close.
A number of other brokerages also recently commented on MDB. Truist Financial reduced their price objective on MongoDB from $300.00 to $275.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Daiwa America upgraded shares of MongoDB to a “strong-buy” rating in a research note on Tuesday, April 1st. China Renaissance assumed coverage on shares of MongoDB in a research note on Tuesday, January 21st. They issued a “buy” rating and a $351.00 price objective for the company. Daiwa Capital Markets initiated coverage on shares of MongoDB in a report on Tuesday, April 1st. They set an “outperform” rating and a $202.00 price objective for the company. Finally, Redburn Atlantic upgraded shares of MongoDB from a “sell” rating to a “neutral” rating and set a $170.00 target price on the stock in a research report on Thursday, April 17th. Eight equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, MongoDB presently has a consensus rating of “Moderate Buy” and a consensus price target of $293.91.
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MongoDB Stock Up 0.4%
Shares of NASDAQ MDB opened at $191.29 on Friday. MongoDB has a 12 month low of $140.78 and a 12 month high of $379.06. The company has a market cap of $15.53 billion, a P/E ratio of -69.81 and a beta of 1.49. The business’s 50 day moving average is $174.91 and its two-hundred day moving average is $238.95.
MongoDB (NASDAQ:MDB – Get Free Report) last announced its earnings results 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). MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company had revenue of $548.40 million for the quarter, compared to the consensus estimate of $519.65 million. During the same period last year, the firm posted $0.86 EPS. Sell-side analysts expect that MongoDB will post -1.78 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, CAO Thomas Bull sold 301 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.25, for a total value of $52,148.25. Following the transaction, the chief accounting officer now owns 14,598 shares in the company, valued at $2,529,103.50. This trade represents a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Cedric Pech sold 1,690 shares of MongoDB stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total value of $292,809.40. Following the completion of the sale, the insider now owns 57,634 shares of the company’s stock, valued at approximately $9,985,666.84. The trade was a 2.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,423 shares of company stock worth $7,148,369 in the last quarter. Insiders own 3.60% of the company’s stock.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the business. OneDigital Investment Advisors LLC lifted its holdings in MongoDB by 3.9% in the fourth 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 during the period. Avestar Capital LLC raised its position in shares of MongoDB by 2.0% during the 4th 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 last quarter. Aigen Investment Management LP lifted its stake in shares of MongoDB by 1.4% in the 4th quarter. Aigen Investment Management LP now owns 3,921 shares of the company’s stock valued at $913,000 after purchasing an additional 55 shares during the period. Handelsbanken Fonder AB boosted its position in shares of MongoDB by 0.4% in the 1st quarter. Handelsbanken Fonder AB now owns 14,816 shares of the company’s stock worth $2,599,000 after purchasing an additional 65 shares during the last quarter. Finally, Perigon Wealth Management LLC grew its stake in shares of MongoDB by 2.7% during the fourth quarter. Perigon Wealth Management LLC now owns 2,528 shares of the company’s stock worth $627,000 after purchasing an additional 66 shares during the period. 89.29% of the stock is currently owned by institutional investors and hedge funds.
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.
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