Piper Sandler Lowers MongoDB (NASDAQ:MDB) Price Target to $280.00

MongoDB (NASDAQ:MDB) had its price objective reduced by analysts at Piper Sandler from $425.00 to $280.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s target price points to a potential upside of 33.74% from the company’s current price.

Several other equities analysts also recently commented on the stock. Mizuho increased their price objective on shares of MongoDB from $275.00 to $320.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. KeyCorp raised their price objective on MongoDB from $330.00 to $375.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Wedbush lowered their target price on MongoDB from $360.00 to $300.00 and set an “outperform” rating for the company in a report on Thursday. Macquarie began coverage on MongoDB in a research note on Thursday, December 12th. They set a “neutral” rating and a $300.00 price target on the stock. Finally, Morgan Stanley cut their price target on shares of MongoDB from $350.00 to $315.00 and set an “overweight” rating on the stock in a report on Thursday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $331.65.

MongoDB Trading Down 20.7 %

Shares of MongoDB stock traded down $54.77 on Thursday, reaching $209.36. 3,662,394 shares of the company were exchanged, compared to its average volume of 1,615,806. MongoDB has a one year low of $200.36 and a one year high of $424.00. The company has a 50-day moving average of $263.70 and a 200 day moving average of $275.28. The company has a market capitalization of $15.59 billion, a price-to-earnings ratio of -76.92 and a beta of 1.30.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.45). The firm had revenue of $548.40 million for the quarter, compared to analyst estimates of $519.65 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. During the same quarter in the prior year, the firm earned $0.86 earnings per share. Analysts predict that MongoDB will post -1.78 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Cedric Pech sold 287 shares of MongoDB stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total value of $67,183.83. Following the completion of the sale, the insider now directly owns 24,390 shares in the company, valued at $5,709,455.10. This trade represents a 1.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $270.63, for a total transaction of $811,890.00. Following the sale, the director now owns 1,109,006 shares of the company’s stock, valued at $300,130,293.78. The trade was a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,314 shares of company stock worth $13,337,753 over the last 90 days. Company insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

Large investors have recently made changes to their positions in the business. Strategic Investment Solutions Inc. IL purchased a new stake in shares of MongoDB in the fourth quarter worth about $29,000. Hilltop National Bank boosted its stake in shares of MongoDB by 47.2% in the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after acquiring an additional 42 shares during the last quarter. NCP Inc. purchased a new stake in shares of MongoDB during the fourth quarter worth approximately $35,000. Brooklyn Investment Group acquired a new position in MongoDB in the 3rd quarter valued at $36,000. Finally, Continuum Advisory LLC lifted its holdings in MongoDB by 621.1% in 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 in the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

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.