Stifel Nicolaus Lowers MongoDB (NASDAQ:MDB) Price Target to $275.00

MongoDB (NASDAQ:MDB) had its price objective cut by stock analysts at Stifel Nicolaus from $340.00 to $275.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 69.50% from the company’s previous close.

A number of other equities research analysts have also recently commented on the company. Barclays lowered their target price on MongoDB from $330.00 to $280.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Daiwa America upgraded MongoDB to a “strong-buy” rating in a research report on Tuesday, April 1st. Truist Financial cut their price objective on shares of MongoDB from $300.00 to $275.00 and set a “buy” rating for the company in a research report on Monday, March 31st. China Renaissance assumed coverage on MongoDB in a research report on Tuesday, January 21st. They set a “buy” rating and a $351.00 target price for the company. Finally, Wells Fargo & Company cut shares of MongoDB from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $365.00 to $225.00 in a research note on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, MongoDB currently has an average rating of “Moderate Buy” and a consensus price target of $310.74.

MongoDB Trading Up 0.7 %

MDB opened at $162.24 on Friday. The company’s fifty day moving average price is $220.46 and its two-hundred day moving average price is $256.10. The company has a market cap of $13.17 billion, a price-to-earnings ratio of -59.21 and a beta of 1.49. MongoDB has a 1-year low of $140.78 and a 1-year high of $387.19.

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

Insider Activity

In related news, Director Dwight A. Merriman sold 1,045 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $242.67, for a total transaction of $253,590.15. Following the sale, the director now directly owns 85,652 shares of the company’s stock, valued at $20,785,170.84. This trade represents a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Thomas Bull sold 301 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $173.25, for a total transaction of $52,148.25. Following the transaction, the chief accounting officer now directly owns 14,598 shares of the company’s stock, valued at $2,529,103.50. The trade was a 2.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 58,060 shares of company stock worth $13,461,875 over the last three months. 3.60% of the stock is currently owned by corporate insiders.

Institutional Trading of MongoDB

Several large investors have recently added to or reduced their stakes in MDB. Vanguard Group Inc. increased its holdings in MongoDB by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 7,328,745 shares of the company’s stock worth $1,706,205,000 after acquiring an additional 23,942 shares in the last quarter. Franklin Resources Inc. increased its stake in MongoDB by 9.7% in the 4th quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company’s stock worth $478,398,000 after acquiring an additional 181,962 shares during the last quarter. Geode Capital Management LLC raised its stake in MongoDB by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 1,252,142 shares of the company’s stock valued at $290,987,000 after purchasing an additional 22,106 shares in the last quarter. First Trust Advisors LP raised its position in shares of MongoDB by 12.6% during the 4th quarter. First Trust Advisors LP now owns 854,906 shares of the company’s stock valued at $199,031,000 after buying an additional 95,893 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of MongoDB in the 4th quarter valued at approximately $189,584,000. 89.29% of the stock is currently owned by 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.