Morgan Stanley Cuts MongoDB (NASDAQ:MDB) Price Target to $378.00

MongoDB (NASDAQ:MDBGet Rating) had its target price reduced by Morgan Stanley from $475.00 to $378.00 in a report issued on Thursday, Stock Target Advisor reports. They currently have an overweight rating on the stock.

Several other research firms have also weighed in on MDB. Royal Bank of Canada assumed coverage on MongoDB in a research report on Tuesday, March 1st. They set an outperform rating and a $505.00 price target on the stock. Canaccord Genuity Group dropped their price target on MongoDB from $560.00 to $400.00 in a research report on Wednesday, March 9th. Tigress Financial began coverage on MongoDB in a research report on Friday, February 11th. They issued a buy rating and a $630.00 target price on the stock. Credit Suisse Group dropped their target price on MongoDB from $700.00 to $650.00 and set an outperform rating on the stock in a research report on Wednesday, March 9th. Finally, Stifel Nicolaus dropped their target price on MongoDB from $550.00 to $425.00 in a research report on Wednesday, March 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, MongoDB has an average rating of Buy and an average target price of $483.83.

Shares of NASDAQ MDB opened at $248.10 on Thursday. The stock’s fifty day simple moving average is $365.12 and its 200 day simple moving average is $421.46. The stock has a market capitalization of $16.76 billion, a price-to-earnings ratio of -52.34 and a beta of 0.98. The company has a quick ratio of 4.02, a current ratio of 4.02 and a debt-to-equity ratio of 1.70. MongoDB has a 52-week low of $219.73 and a 52-week high of $590.00.

MongoDB (NASDAQ:MDBGet Rating) last announced its earnings results on Tuesday, March 8th. The company reported ($1.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.25) by $0.05. The company had revenue of $266.50 million for the quarter, compared to analyst estimates of $243.42 million. MongoDB had a negative return on equity of 66.70% and a negative net margin of 35.12%. MongoDB’s revenue for the quarter was up 55.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.01) earnings per share. As a group, analysts anticipate that MongoDB will post -5.48 earnings per share for the current year.

In related news, CRO Cedric Pech sold 309 shares of MongoDB stock in a transaction dated Monday, April 4th. The stock was sold at an average price of $443.77, for a total transaction of $137,124.93. Following the sale, the executive now directly owns 46,135 shares of the company’s stock, valued at $20,473,328.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Charles M. Hazard, Jr. sold 1,666 shares of MongoDB stock in a transaction dated Tuesday, March 1st. The stock was sold at an average price of $382.87, for a total value of $637,861.42. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 124,475 shares of company stock worth $43,717,816. 7.40% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company lifted its stake in MongoDB by 2,441.0% during the first quarter. The Manufacturers Life Insurance Company now owns 38,446 shares of the company’s stock worth $16,561,000 after purchasing an additional 36,933 shares during the period. Worldquant Millennium Advisors LLC bought a new position in shares of MongoDB in the first quarter valued at approximately $7,910,000. Altimeter Capital Management LP raised its stake in shares of MongoDB by 23.2% in the first quarter. Altimeter Capital Management LP now owns 308,000 shares of the company’s stock valued at $136,626,000 after acquiring an additional 58,000 shares during the last quarter. Beacon Pointe Advisors LLC raised its stake in shares of MongoDB by 78.0% in the first quarter. Beacon Pointe Advisors LLC now owns 678 shares of the company’s stock valued at $301,000 after acquiring an additional 297 shares during the last quarter. Finally, Polar Asset Management Partners Inc. bought a new position in shares of MongoDB in the first quarter valued at approximately $10,469,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

MongoDB Company Profile (Get Rating)

MongoDB, Inc provides general purpose database platform worldwide. The company offers MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.

Read More

Analyst Recommendations for MongoDB (NASDAQ:MDB)

Receive News & Ratings for MongoDB Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MongoDB and related companies with MarketBeat.com's FREE daily email newsletter.