MongoDB (NASDAQ:MDB) Price Target Lowered to $300.00 at Wedbush

MongoDB (NASDAQ:MDB) had its target price cut by Wedbush from $360.00 to $300.00 in a research report released on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research firms also recently issued reports on MDB. Canaccord Genuity Group decreased their target price on shares of MongoDB from $385.00 to $320.00 and set a “buy” rating for the company in a research report on Thursday. Macquarie began coverage on shares of MongoDB in a research report on Thursday, December 12th. They set a “neutral” rating and a $300.00 target price for the company. China Renaissance began coverage on shares of MongoDB in a research report on Tuesday, January 21st. They set a “buy” rating and a $351.00 target price for the company. Oppenheimer boosted their target price on shares of MongoDB from $350.00 to $400.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Finally, JMP Securities restated a “market outperform” rating and set a $380.00 target price on shares of MongoDB in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $322.61.

MongoDB Price Performance

Shares of MDB opened at $192.98 on Thursday. The firm has a market capitalization of $14.37 billion, a PE ratio of -70.43 and a beta of 1.30. MongoDB has a 1-year low of $192.79 and a 1-year high of $413.87. The company’s fifty day moving average price is $262.69 and its 200-day moving average price is $274.71.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). The company had revenue of $548.40 million for the quarter, compared to analysts’ expectations of $519.65 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. During the same period last year, the firm earned $0.86 earnings per share. As a group, research analysts anticipate that MongoDB will post -1.78 EPS for the current fiscal year.

Insider Activity at MongoDB

In related news, CFO Michael Lawrence Gordon sold 5,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 80,307 shares of the company’s stock, valued at approximately $21,510,229.95. This represents a 5.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Thomas Bull sold 169 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total transaction of $39,561.21. Following the sale, the chief accounting officer now directly owns 14,899 shares of the company’s stock, valued at approximately $3,487,706.91. This represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,314 shares of company stock valued at $13,337,753. Corporate insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

Several large investors have recently bought and sold shares of the business. Strategic Investment Solutions Inc. IL purchased a new stake in shares of MongoDB in the 4th quarter valued at approximately $29,000. Hilltop National Bank grew its stake in shares of MongoDB by 47.2% in the 4th quarter. Hilltop National Bank now owns 131 shares of the company’s stock valued at $30,000 after buying an additional 42 shares during the period. NCP Inc. purchased a new stake in shares of MongoDB in the 4th quarter valued at approximately $35,000. Brooklyn Investment Group purchased a new stake in shares of MongoDB in the 3rd quarter valued at approximately $36,000. Finally, Continuum Advisory LLC grew its stake in shares of 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 buying an additional 118 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.

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.