MongoDB (NASDAQ:MDB) Price Target Cut to $350.00 by Analysts at Loop Capital

MongoDB (NASDAQ:MDB) had its target price lowered by Loop Capital from $400.00 to $350.00 in a research report sent to investors on Monday morning, Marketbeat Ratings reports. The brokerage currently has a buy rating on the stock.

Other equities analysts have also recently issued research reports about the company. Wells Fargo & Company boosted their price objective on MongoDB from $350.00 to $425.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Monness Crespi & Hardt raised MongoDB from a “sell” rating to a “neutral” rating in a research report on Monday. China Renaissance began coverage on MongoDB in a research note on Tuesday, January 21st. They set a “buy” rating and a $351.00 price target on the stock. Macquarie began coverage on MongoDB in a research note on Thursday, December 12th. They set a “neutral” rating and a $300.00 price target on the stock. Finally, Barclays lowered their price target on MongoDB from $400.00 to $330.00 and set an “overweight” rating on the stock in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, MongoDB presently has a consensus rating of “Moderate Buy” and an average price target of $361.83.

MongoDB Price Performance

MongoDB stock opened at $264.13 on Monday. The company has a market capitalization of $19.67 billion, a price-to-earnings ratio of -96.40 and a beta of 1.30. MongoDB has a one year low of $212.74 and a one year high of $424.00. The company’s fifty day moving average price is $263.70 and its two-hundred day moving average price is $275.28.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.48. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The business had revenue of $529.40 million during the quarter, compared to analysts’ expectations of $497.39 million. During the same quarter in the previous year, the firm earned $0.96 EPS. The firm’s revenue was up 22.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that MongoDB will post -1.78 earnings per share for the current year.

Insider Activity at MongoDB

In other MongoDB news, insider Cedric Pech sold 287 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total value of $67,183.83. Following the transaction, the insider now directly owns 24,390 shares of the company’s stock, valued at approximately $5,709,455.10. This trade represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dev Ittycheria sold 8,335 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $254.86, for a total transaction of $2,124,258.10. Following the completion of the transaction, the chief executive officer now directly owns 217,294 shares in the company, valued at approximately $55,379,548.84. The trade was a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,314 shares of company stock valued at $13,337,753 over the last quarter. Corporate insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

Hedge funds and other institutional investors have recently bought and sold shares of the business. Strategic Investment Solutions Inc. IL bought a new position in shares of MongoDB during the fourth quarter worth $29,000. Hilltop National Bank boosted its position in shares of MongoDB by 47.2% during the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after purchasing an additional 42 shares in the last quarter. NCP Inc. bought a new position in shares of MongoDB during the fourth quarter worth $35,000. Brooklyn Investment Group bought a new position in shares of MongoDB during the third quarter worth $36,000. Finally, Continuum Advisory LLC boosted its position in shares of MongoDB by 621.1% during the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock worth $40,000 after purchasing an additional 118 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.