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MongoDB (NASDAQ:MDB – Free Report) had its price objective trimmed by Morgan Stanley from $455.00 to $320.00 in a research report sent to investors on Friday, Benzinga reports. The brokerage currently has an overweight rating on the stock.
A number of other brokerages also recently weighed in on MDB. KeyCorp cut their price target on shares of MongoDB from $490.00 to $440.00 and set an overweight rating on the stock in a research report on Thursday, April 18th. Stifel Nicolaus restated a buy rating and set a $435.00 target price on shares of MongoDB in a report on Thursday, March 14th. Tigress Financial raised their target price on shares of MongoDB from $495.00 to $500.00 and gave the stock a buy rating in a report on Thursday, March 28th. Guggenheim raised their target price on shares of MongoDB from $250.00 to $272.00 and gave the stock a sell rating in a report on Monday, March 4th. Finally, Piper Sandler dropped their target price on shares of MongoDB from $480.00 to $350.00 and set an overweight rating on the stock in a report on Friday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat.com, MongoDB has an average rating of Moderate Buy and an average target price of $374.29.
View Our Latest Stock Analysis on MongoDB
MongoDB Stock Performance
MongoDB stock opened at $236.06 on Friday. The company has a current ratio of 4.40, a quick ratio of 4.40 and a debt-to-equity ratio of 1.07. MongoDB has a 1 year low of $225.25 and a 1 year high of $509.62. The company has a market cap of $17.19 billion, a PE ratio of -84.01 and a beta of 1.19. The company’s 50-day moving average is $353.32 and its two-hundred day moving average is $390.77.
MongoDB (NASDAQ:MDB – Get Free Report) last released its earnings results on Thursday, March 7th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.32). MongoDB had a negative net margin of 11.50% and a negative return on equity of 16.00%. The business had revenue of $458.00 million for the quarter, compared to analyst estimates of $431.99 million. Equities analysts anticipate that MongoDB will post -2.53 earnings per share for the current year.
Insider Transactions at MongoDB
In other news, Director Dwight A. Merriman sold 6,000 shares of MongoDB stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $374.95, for a total transaction of $2,249,700.00. Following the completion of the sale, the director now owns 1,148,784 shares of the company’s stock, valued at $430,736,560.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Dwight A. Merriman sold 6,000 shares of MongoDB stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $374.95, for a total transaction of $2,249,700.00. Following the completion of the sale, the director now owns 1,148,784 shares of the company’s stock, valued at $430,736,560.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Dev Ittycheria sold 17,160 shares of MongoDB stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $348.11, for a total value of $5,973,567.60. Following the sale, the chief executive officer now directly owns 226,073 shares of the company’s stock, valued at approximately $78,698,272.03. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,802 shares of company stock valued at $16,514,071. 3.60% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the business. abrdn plc grew its position in shares of MongoDB by 46.0% during the 3rd quarter. abrdn plc now owns 22,803 shares of the company’s stock worth $7,887,000 after buying an additional 7,188 shares during the period. Metis Global Partners LLC grew its position in shares of MongoDB by 7.3% during the 3rd quarter. Metis Global Partners LLC now owns 1,950 shares of the company’s stock worth $674,000 after buying an additional 133 shares during the period. Chartwell Investment Partners LLC acquired a new stake in shares of MongoDB during the 3rd quarter worth approximately $1,611,000. Qsemble Capital Management LP acquired a new stake in shares of MongoDB during the 3rd quarter worth approximately $252,000. Finally, Oppenheimer Asset Management Inc. lifted its stake in MongoDB by 52.9% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 5,336 shares of the company’s stock valued at $1,846,000 after acquiring an additional 1,846 shares in the last quarter. 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.
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