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MongoDB (NASDAQ:MDB – Get Free Report) was downgraded by research analysts at Loop Capital from a “buy” rating to a “hold” rating in a research report issued on Tuesday, Marketbeat Ratings reports. They presently have a $190.00 target price on the stock, down from their previous target price of $350.00. Loop Capital’s price target indicates a potential upside of 2.70% from the stock’s current price.
A number of other analysts also recently issued reports on MDB. UBS Group set a $350.00 price objective on shares of MongoDB in a report on Tuesday, March 4th. Royal Bank of Canada reduced their price target on MongoDB from $400.00 to $320.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Scotiabank reaffirmed a “sector perform” rating and issued a $160.00 price objective (down from $240.00) on shares of MongoDB in a report on Friday, April 25th. Monness Crespi & Hardt upgraded MongoDB from a “sell” rating to a “neutral” rating in a research report on Monday, March 3rd. Finally, Mizuho decreased their price target on MongoDB from $250.00 to $190.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 15th. Nine equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $288.91.
Check Out Our Latest Analysis on MongoDB
MongoDB Stock Performance
Shares of MDB stock opened at $185.01 on Tuesday. MongoDB has a 52 week low of $140.78 and a 52 week high of $379.06. The company has a market capitalization of $15.02 billion, a price-to-earnings ratio of -67.52 and a beta of 1.49. The company has a 50-day simple moving average of $174.84 and a 200 day simple moving average of $237.45.
MongoDB (NASDAQ:MDB – Get Free Report) last released its quarterly earnings results 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 earnings per share. Sell-side analysts forecast that MongoDB will post -1.78 EPS for the current year.
Insider Buying and Selling
In related news, CAO Thomas Bull sold 301 shares of MongoDB stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $173.25, for a total value of $52,148.25. Following the completion of the transaction, the chief accounting officer now directly owns 14,598 shares in the company, valued at approximately $2,529,103.50. The trade was a 2.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Srdjan Tanjga sold 525 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total value of $90,961.50. Following the sale, the chief financial officer now owns 6,406 shares in the company, valued at approximately $1,109,903.56. This represents a 7.57% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,538 shares of company stock worth $6,889,905. 3.60% of the stock is owned by insiders.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. Acadian Asset Management LLC raised its position in MongoDB by 181.8% during the first quarter. Acadian Asset Management LLC now owns 562,190 shares of the company’s stock valued at $98,586,000 after purchasing an additional 362,705 shares in the last quarter. IFM Investors Pty Ltd boosted its stake in MongoDB by 4.3% in the first quarter. IFM Investors Pty Ltd now owns 13,796 shares of the company’s stock worth $2,420,000 after buying an additional 569 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in MongoDB by 11.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,271,444 shares of the company’s stock worth $223,011,000 after buying an additional 129,451 shares in the last quarter. Woodline Partners LP grew its position in MongoDB by 30,297.0% during the first quarter. Woodline Partners LP now owns 322,208 shares of the company’s stock valued at $56,515,000 after acquiring an additional 321,148 shares during the last quarter. Finally, Meiji Yasuda Life Insurance Co raised its stake in shares of MongoDB by 36.1% during the first quarter. Meiji Yasuda Life Insurance Co now owns 3,997 shares of the company’s stock worth $701,000 after acquiring an additional 1,060 shares in the last quarter. 89.29% of the stock is owned by institutional investors.
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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