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MongoDB (NASDAQ:MDB – Get Rating) had its price objective cut by Piper Sandler from $430.00 to $375.00 in a report issued on Monday morning, The Fly reports. They currently have an overweight rating on the stock.

A number of other research analysts have also issued reports on the company. Stifel Nicolaus reduced their price target on MongoDB from $425.00 to $340.00 in a research report on Thursday, June 2nd. Morgan Stanley reduced their price target on MongoDB from $378.00 to $368.00 and set an overweight rating for the company in a research report on Thursday, June 2nd. Redburn Partners initiated coverage on MongoDB in a research report on Wednesday, June 29th. They set a sell rating and a $190.00 price target for the company. Mizuho reduced their price target on MongoDB from $325.00 to $270.00 and set a neutral rating for the company in a research report on Wednesday, May 18th. Finally, Needham & Company LLC upped their price objective on MongoDB from $310.00 to $350.00 and gave the company a buy rating in a report on Friday, June 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, MongoDB has an average rating of Moderate Buy and an average price target of $401.17.

MongoDB Price Performance

Shares of NASDAQ MDB opened at $281.17 on Monday. The company has a market capitalization of $19.15 billion, a price-to-earnings ratio of -58.09 and a beta of 0.91. The business has a 50 day simple moving average of $267.40 and a 200-day simple moving average of $346.74. The company has a current ratio of 4.16, a quick ratio of 4.16 and a debt-to-equity ratio of 1.69. MongoDB has a twelve month low of $213.39 and a twelve month high of $590.00.

MongoDB (NASDAQ:MDB – Get Rating) last issued its quarterly earnings data on Wednesday, June 1st. The company reported ($1.15) EPS for the quarter, topping analysts’ consensus estimates of ($1.34) by $0.19. The firm had revenue of $285.45 million during the quarter, compared to the consensus estimate of $267.10 million. MongoDB had a negative return on equity of 45.56% and a negative net margin of 32.75%. The firm’s revenue was up 57.1% on a year-over-year basis. During the same period in the prior year, the business earned ($0.98) EPS. As a group, equities research analysts expect that MongoDB will post -5.09 earnings per share for the current year.

Insider Activity at MongoDB

In related news, Director Dwight A. Merriman sold 588 shares of the stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $309.62, for a total value of $182,056.56. Following the completion of the sale, the director now directly owns 1,322,954 shares of the company’s stock, valued at approximately $409,613,017.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Dwight A. Merriman sold 588 shares of the stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $309.62, for a total value of $182,056.56. Following the completion of the sale, the director now directly owns 1,322,954 shares of the company’s stock, valued at approximately $409,613,017.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Dev Ittycheria sold 35,000 shares of the stock in a transaction dated Thursday, May 5th. The stock was sold at an average price of $321.10, for a total value of $11,238,500.00. Following the completion of the sale, the chief executive officer now directly owns 204,744 shares of the company’s stock, valued at $65,743,298.40. The disclosure for this sale can be found here. Insiders sold 77,185 shares of company stock worth $23,594,636 in the last quarter. 5.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On MongoDB

Several hedge funds have recently bought and sold shares of the business. Confluence Wealth Services Inc. purchased a new stake in shares of MongoDB during the 4th quarter worth about $25,000. Bank of New Hampshire purchased a new stake in shares of MongoDB during the 1st quarter worth about $25,000. Covestor Ltd purchased a new stake in shares of MongoDB during the 4th quarter worth about $43,000. Cullen Frost Bankers Inc. purchased a new stake in shares of MongoDB during the 1st quarter worth about $44,000. Finally, John W. Brooker & Co. CPAs purchased a new stake in shares of MongoDB during the 2nd quarter worth about $26,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

About MongoDB

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MongoDB, Inc provides general purpose database platform worldwide. The company offers MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; 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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