MongoDB (NASDAQ:MDB) Price Target Lowered to $330.00 at Barclays

MongoDB (NASDAQ:MDB) had its target price trimmed by Barclays from $400.00 to $330.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research firms also recently weighed in on MDB. Rosenblatt Securities initiated coverage on shares of MongoDB in a research report on Tuesday, December 17th. They issued a “buy” rating and a $350.00 target price for the company. Oppenheimer lifted their target price on MongoDB from $350.00 to $400.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. JMP Securities reissued a “market outperform” rating and set a $380.00 price target on shares of MongoDB in a research report on Wednesday, December 11th. Wells Fargo & Company boosted their price target on MongoDB from $350.00 to $425.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Finally, Needham & Company LLC increased their price objective on MongoDB from $335.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, four have given a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $364.64.

MongoDB Price Performance

Shares of MongoDB stock opened at $245.22 on Friday. The firm has a market cap of $18.26 billion, a price-to-earnings ratio of -89.50 and a beta of 1.25. The stock’s 50-day moving average is $281.86 and its 200-day moving average is $269.09. MongoDB has a one year low of $212.74 and a one year high of $509.62.

MongoDB (NASDAQ:MDB) last released its earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.68 by $0.48. The firm had revenue of $529.40 million for the quarter, compared to analysts’ expectations of $497.39 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The business’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.96 EPS. On average, equities analysts expect that MongoDB will post -1.86 EPS for the current year.

Insider Buying and Selling

In related news, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $237.73, for a total value of $713,190.00. Following the transaction, the director now directly owns 1,117,006 shares of the company’s stock, valued at $265,545,836.38. This trade represents a 0.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Cedric Pech sold 287 shares of the business’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 transaction of $67,183.83. Following the transaction, the insider now owns 24,390 shares of the company’s stock, valued at approximately $5,709,455.10. This represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,161 shares of company stock valued at $8,427,806 over the last 90 days. 3.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MongoDB

Hedge funds and other institutional investors have recently modified their holdings of the business. Hilltop National Bank boosted its stake in MongoDB by 47.2% in the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock valued at $30,000 after buying an additional 42 shares in the last quarter. Quarry LP boosted its stake in shares of MongoDB by 2,580.0% in the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock valued at $33,000 after purchasing an additional 129 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of MongoDB during the 3rd quarter valued at approximately $36,000. Continuum Advisory LLC grew its holdings in shares of MongoDB by 621.1% during the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after purchasing an additional 118 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in MongoDB by 178.8% during the 3rd quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock worth $39,000 after purchasing an additional 93 shares in the last quarter. Institutional investors own 89.29% of the company’s stock.

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.