Rosenblatt Securities Lowers MongoDB (NASDAQ:MDB) Price Target to $290.00

MongoDB (NASDAQ:MDB) had its target price decreased by research analysts at Rosenblatt Securities from $305.00 to $290.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Rosenblatt Securities’ price objective indicates a potential upside of 45.20% from the stock’s previous close.

Several other research analysts have also recently issued reports on the stock. Daiwa Capital Markets started coverage on shares of MongoDB in a report on Tuesday, April 1st. They set an “outperform” rating and a $202.00 target price on the stock. Monness Crespi & Hardt upgraded shares of MongoDB from a “neutral” rating to a “buy” rating and set a $295.00 target price on the stock in a report on Thursday. Robert W. Baird dropped their target price on shares of MongoDB from $390.00 to $300.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Canaccord Genuity Group dropped their target price on shares of MongoDB from $385.00 to $320.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Finally, KeyCorp lowered shares of MongoDB from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Eight analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, MongoDB currently has a consensus rating of “Moderate Buy” and a consensus target price of $288.19.

MongoDB Trading Up 3.1%

Shares of MDB opened at $199.73 on Thursday. MongoDB has a twelve month low of $140.78 and a twelve month high of $370.00. The company has a market cap of $16.22 billion, a P/E ratio of -72.89 and a beta of 1.40. The company’s fifty day simple moving average is $174.22 and its 200-day simple moving average is $231.03.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.35. The firm had revenue of $549.01 million for the quarter, compared to analysts’ expectations of $527.49 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.51 earnings per share. Analysts predict that MongoDB will post -1.78 earnings per share for the current fiscal year.

Insider Transactions at MongoDB

In related news, CEO Dev Ittycheria sold 18,512 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total value of $3,207,389.12. Following the completion of the transaction, the chief executive officer now owns 268,948 shares in the company, valued at $46,597,930.48. This represents a 6.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Hope F. Cochran sold 1,175 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $174.69, for a total transaction of $205,260.75. Following the completion of the transaction, the director now owns 19,333 shares of the company’s stock, valued at $3,377,281.77. This represents a 5.73% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,203 shares of company stock worth $3,848,569. Insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On MongoDB

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC lifted its holdings in MongoDB by 181.8% in the 1st quarter. Acadian Asset Management LLC now owns 562,190 shares of the company’s stock valued at $98,586,000 after acquiring an additional 362,705 shares during the last quarter. IFM Investors Pty Ltd lifted its holdings in MongoDB by 4.3% in the 1st quarter. IFM Investors Pty Ltd now owns 13,796 shares of the company’s stock valued at $2,420,000 after acquiring an additional 569 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in MongoDB by 11.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,271,444 shares of the company’s stock valued at $223,011,000 after acquiring an additional 129,451 shares during the last quarter. Woodline Partners LP lifted its holdings in MongoDB by 30,297.0% in the 1st quarter. Woodline Partners LP now owns 322,208 shares of the company’s stock valued at $56,515,000 after acquiring an additional 321,148 shares during the last quarter. Finally, Meiji Yasuda Life Insurance Co lifted its holdings in MongoDB by 36.1% in the 1st quarter. Meiji Yasuda Life Insurance Co now owns 3,997 shares of the company’s stock valued at $701,000 after acquiring an additional 1,060 shares during the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

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.