MongoDB (NASDAQ:MDB) Price Target Cut to $270.00 by Analysts at Needham & Company LLC

MongoDB (NASDAQ:MDB) had its price objective dropped by stock analysts at Needham & Company LLC from $415.00 to $270.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 2.22% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the company. JMP Securities restated a “market outperform” rating and set a $380.00 price objective on shares of MongoDB in a report on Wednesday, December 11th. Macquarie assumed coverage on MongoDB in a research report on Thursday, December 12th. They set a “neutral” rating and a $300.00 target price for the company. Rosenblatt Securities reissued a “buy” rating and set a $350.00 target price on shares of MongoDB in a research note on Tuesday. Robert W. Baird reduced their price target on shares of MongoDB from $390.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Canaccord Genuity Group lifted their price objective on shares of MongoDB from $325.00 to $385.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $345.17.

MongoDB Trading Up 3.8 %

Shares of MDB opened at $264.13 on Thursday. MongoDB has a twelve month low of $212.74 and a twelve month high of $424.00. The company’s fifty day simple moving average is $263.70 and its 200-day simple moving average is $275.28. The company has a market cap of $19.67 billion, a P/E ratio of -96.40 and a beta of 1.30.

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 analysts’ consensus estimates of $0.68 by $0.48. The company had revenue of $529.40 million for the quarter, compared to analyst estimates of $497.39 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The firm’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.96 EPS. Analysts predict that MongoDB will post -1.78 earnings per share for the current fiscal year.

Insider Buying and Selling at MongoDB

In other news, CAO Thomas Bull sold 1,000 shares of MongoDB stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $355.92, for a total value of $355,920.00. Following the transaction, the chief accounting officer now owns 15,068 shares of the company’s stock, valued at $5,363,002.56. The trade was a 6.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael Lawrence Gordon sold 5,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $267.85, for a total transaction of $1,339,250.00. Following the sale, the chief financial officer now directly owns 80,307 shares of the company’s stock, valued at $21,510,229.95. The trade was a 5.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,314 shares of company stock worth $13,337,753 over the last quarter. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MDB. Norges Bank acquired a new stake in MongoDB in the fourth quarter worth about $189,584,000. Jennison Associates LLC raised its position in shares of MongoDB by 23.6% in the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock valued at $838,632,000 after purchasing an additional 592,038 shares during the last quarter. Marshall Wace LLP acquired a new stake in MongoDB in the 4th quarter worth approximately $110,356,000. Raymond James Financial Inc. purchased a new stake in MongoDB during the 4th quarter worth approximately $90,478,000. Finally, D1 Capital Partners L.P. acquired a new position in MongoDB during the 4th quarter valued at approximately $76,129,000. 89.29% of the stock is owned by institutional investors and hedge funds.

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.