Mizuho Lowers MongoDB (NASDAQ:MDB) Price Target to $250.00

MongoDB (NASDAQ:MDB) had its price objective cut by equities research analysts at Mizuho from $380.00 to $250.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Mizuho’s target price suggests a potential downside of 19.35% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Citigroup lifted their price target on shares of MongoDB from $515.00 to $550.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Guggenheim lifted their price target on shares of MongoDB from $250.00 to $272.00 and gave the stock a “sell” rating in a report on Monday, March 4th. 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 research report on Thursday, March 28th. Truist Financial decreased their target price on shares of MongoDB from $475.00 to $300.00 and set a “buy” rating on the stock in a research report on Friday. Finally, DA Davidson raised shares of MongoDB from a “neutral” rating to a “buy” rating and raised their target price for the stock from $405.00 to $430.00 in a research report on Friday, March 8th. Two investment 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $409.57.

MongoDB Stock Performance

NASDAQ:MDB opened at $310.00 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. The firm has a 50-day moving average price of $355.70 and a two-hundred day moving average price of $391.76. MongoDB has a twelve month low of $275.76 and a twelve month high of $509.62. The company has a market capitalization of $22.58 billion, a P/E ratio of -125.00 and a beta of 1.19.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Thursday, March 7th. The company reported ($1.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.32). The firm had revenue of $458.00 million for the quarter, compared to analysts’ expectations of $431.99 million. MongoDB had a negative return on equity of 16.22% and a negative net margin of 10.49%. As a group, research analysts expect that MongoDB will post -2.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In other MongoDB news, CRO Cedric Pech sold 1,430 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $348.11, for a total transaction of $497,797.30. Following the sale, 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 Securities & Exchange Commission, which can be accessed through the SEC website. In other MongoDB news, CRO Cedric Pech sold 1,430 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $348.11, for a total transaction of $497,797.30. Following the sale, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Thomas Bull sold 170 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $348.12, for a total transaction of $59,180.40. Following the sale, the chief accounting officer now directly owns 17,360 shares in the company, valued at $6,043,363.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,802 shares of company stock worth $16,514,071. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

Several institutional investors have recently modified their holdings of MDB. Norges Bank bought a new position in shares of MongoDB during the fourth quarter worth about $326,237,000. Jennison Associates LLC grew its position in shares of MongoDB by 14.3% during the first quarter. Jennison Associates LLC now owns 4,408,424 shares of the company’s stock worth $1,581,037,000 after acquiring an additional 551,567 shares during the last quarter. Axiom Investors LLC DE bought a new position in shares of MongoDB during the fourth quarter worth about $153,990,000. Swedbank AB bought a new position in shares of MongoDB during the first quarter worth about $91,915,000. Finally, Clearbridge Investments LLC grew its position in shares of MongoDB by 109.0% during the first quarter. Clearbridge Investments LLC now owns 445,084 shares of the company’s stock worth $159,625,000 after acquiring an additional 232,101 shares during 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.