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MongoDB, Inc. (NASDAQ:MDB – Get Free Report)’s share price reached a new 52-week low during trading on Friday after Barclays lowered their price target on the stock from $458.00 to $290.00. Barclays currently has an overweight rating on the stock. MongoDB traded as low as $225.25 and last traded at $228.57, with a volume of 2559554 shares. The stock had previously closed at $310.00.
A number of other brokerages have also commented on MDB. Tigress Financial lifted their price target on shares of MongoDB from $495.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Oppenheimer cut their target price on shares of MongoDB from $480.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday. Bank of America lowered their price target on MongoDB from $500.00 to $470.00 and set a “buy” rating on the stock in a report on Friday, May 17th. Needham & Company LLC reduced their price objective on MongoDB from $465.00 to $290.00 and set a “buy” rating for the company in a research report on Friday. Finally, Morgan Stanley dropped their target price on MongoDB from $455.00 to $320.00 and set an “overweight” rating on the stock in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $374.29.
Read Our Latest Stock Analysis on MongoDB
Insiders Place Their Bets
In related news, CRO Cedric Pech sold 1,430 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $348.11, for a total transaction of $497,797.30. Following the completion of the transaction, the executive now directly owns 45,444 shares of the company’s stock, valued at $15,819,510.84. The sale was disclosed in a filing with the SEC, which is available through this link. In other MongoDB news, Director Dwight A. Merriman sold 4,000 shares of MongoDB stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $341.12, for a total value of $1,364,480.00. Following the completion of the transaction, the director now directly owns 1,156,784 shares of the company’s stock, valued at approximately $394,602,158.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Cedric Pech sold 1,430 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $348.11, for a total transaction of $497,797.30. Following the completion of the sale, the executive now owns 45,444 shares in the company, valued at $15,819,510.84. The disclosure for this sale can be found here. Insiders have sold a total of 46,802 shares of company stock worth $16,514,071 in the last 90 days. 3.60% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Transcendent Capital Group LLC purchased a new position in MongoDB during the fourth quarter worth $25,000. Blue Trust Inc. grew its holdings in MongoDB by 937.5% during the 4th quarter. Blue Trust Inc. now owns 83 shares of the company’s stock valued at $34,000 after purchasing an additional 75 shares during the last quarter. Huntington National Bank raised its position in MongoDB by 279.3% in the 3rd quarter. Huntington National Bank now owns 110 shares of the company’s stock worth $38,000 after purchasing an additional 81 shares during the period. YHB Investment Advisors Inc. bought a new stake in MongoDB in the first quarter worth about $41,000. Finally, Parkside Financial Bank & Trust boosted its position in shares of MongoDB by 38.3% during the third quarter. Parkside Financial Bank & Trust now owns 130 shares of the company’s stock valued at $45,000 after buying an additional 36 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.
MongoDB Stock Performance
The company has a quick ratio of 4.40, a current ratio of 4.40 and a debt-to-equity ratio of 1.07. The business has a 50 day moving average price of $353.32 and a 200 day moving average price of $390.77. The stock has a market cap of $17.19 billion, a P/E ratio of -95.19 and a beta of 1.19.
MongoDB (NASDAQ:MDB – Get Free Report) last announced its quarterly earnings data on Thursday, March 7th. The company reported ($1.03) EPS for the quarter, missing the consensus estimate of ($0.71) by ($0.32). MongoDB had a negative net margin of 10.49% and a negative return on equity of 16.22%. The business had revenue of $458.00 million during the quarter, compared to the consensus estimate of $431.99 million. As a group, sell-side analysts expect that MongoDB, Inc. will post -2.53 EPS for the current year.
MongoDB Company Profile
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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