Morgan Stanley Cuts MongoDB (NASDAQ:MDB) Price Target to $320.00

MongoDB (NASDAQ:MDB) had its price target reduced by Morgan Stanley from $455.00 to $320.00 in a research report sent to investors on Friday morning, Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

MDB has been the subject of several other reports. Stifel Nicolaus reiterated a buy rating and issued a $435.00 target price on shares of MongoDB in a research note on Thursday, March 14th. Loop Capital began coverage on MongoDB in a research report on Tuesday, April 23rd. They set a buy rating and a $415.00 price target for the company. KeyCorp lowered their price target on MongoDB from $490.00 to $440.00 and set an overweight rating for the company in a research report on Thursday, April 18th. Needham & Company LLC decreased their target price on MongoDB from $465.00 to $290.00 and set a buy rating for the company in a research report on Friday. Finally, Tigress Financial upped their target price on MongoDB from $495.00 to $500.00 and gave the stock a buy rating in a research report on Thursday, March 28th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $374.29.

MongoDB Stock Down 23.9 %

MongoDB stock opened at $236.06 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.40 and a quick ratio of 4.40. 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 stock’s 50 day moving average price is $353.32 and its 200 day moving average price is $390.71.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Thursday, March 7th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.71) by ($0.32). The firm had revenue of $458.00 million for the quarter, compared to analyst estimates of $431.99 million. MongoDB had a negative return on equity of 16.00% and a negative net margin of 11.50%. On average, sell-side analysts predict that MongoDB will post -2.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other MongoDB news, 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 value of $497,797.30. Following the completion of the sale, the executive now owns 45,444 shares of the company’s stock, valued at $15,819,510.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other MongoDB news, 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 value of $497,797.30. Following the completion of the sale, the executive now owns 45,444 shares of the company’s stock, valued at $15,819,510.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Dev Ittycheria sold 17,160 shares of MongoDB stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 226,073 shares in the company, valued at $78,698,272.03. The disclosure for this sale can be found here. Insiders sold 46,802 shares of company stock valued at $16,514,071 over the last quarter. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

Several institutional investors and hedge funds have recently added to or reduced their stakes in MDB. Norges Bank bought a new stake in shares of MongoDB in the 4th quarter valued at approximately $326,237,000. Jennison Associates LLC grew its stake in shares of MongoDB by 14.3% in the 1st quarter. Jennison Associates LLC now owns 4,408,424 shares of the company’s stock valued at $1,581,037,000 after purchasing an additional 551,567 shares during the period. Axiom Investors LLC DE bought a new stake in shares of MongoDB in the 4th quarter valued at approximately $153,990,000. Swedbank AB acquired a new position in shares of MongoDB in the 1st quarter worth approximately $91,915,000. Finally, Clearbridge Investments LLC boosted its holdings in shares of MongoDB by 109.0% in the 1st 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 in the last quarter. 89.29% of the stock is currently 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.