MongoDB (NASDAQ:MDB) Price Target Lowered to $190.00 at Mizuho

MongoDB (NASDAQ:MDB) had its target price trimmed by Mizuho from $250.00 to $190.00 in a research report sent to investors on Tuesday,Benzinga reports. The firm currently has a neutral rating on the stock.

MDB has been the subject of a number of other research reports. Bank of America cut their price objective on MongoDB from $420.00 to $286.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Scotiabank reiterated a “sector perform” rating and issued a $240.00 price target (down previously from $275.00) on shares of MongoDB in a research report on Wednesday, March 5th. Robert W. Baird cut their price objective on MongoDB from $390.00 to $300.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Oppenheimer decreased their target price on shares of MongoDB from $400.00 to $330.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Finally, Piper Sandler cut their price target on shares of MongoDB from $425.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, MongoDB currently has an average rating of “Moderate Buy” and a consensus target price of $306.55.

MongoDB Stock Performance

MDB opened at $158.58 on Tuesday. The company has a market capitalization of $12.87 billion, a PE ratio of -57.88 and a beta of 1.49. The stock’s fifty day moving average is $215.59 and its 200-day moving average is $254.53. MongoDB has a one year low of $140.78 and a one year high of $387.19.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.45). The business had revenue of $548.40 million during the quarter, compared to the consensus estimate 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 last year, the firm posted $0.86 earnings per share. On average, equities research analysts forecast that MongoDB will post -1.78 EPS for the current fiscal year.

Insider Activity

In other news, CEO Dev Ittycheria sold 18,512 shares of MongoDB stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total value of $3,207,389.12. Following the transaction, the chief executive officer now directly owns 268,948 shares in the company, valued at approximately $46,597,930.48. The trade was a 6.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Srdjan Tanjga sold 525 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total value of $90,961.50. Following the transaction, the chief financial officer now directly owns 6,406 shares of the company’s stock, valued at $1,109,903.56. This represents a 7.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 57,015 shares of company stock valued at $13,208,285 over the last 90 days. 3.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MongoDB

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Strategic Investment Solutions Inc. IL acquired a new stake in MongoDB in the 4th quarter worth $29,000. Hilltop National Bank lifted 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 valued at $30,000 after buying an additional 42 shares during the period. NCP Inc. acquired a new stake in MongoDB during the fourth quarter worth about $35,000. Versant Capital Management Inc increased its stake in MongoDB by 1,100.0% during the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock valued at $42,000 after acquiring an additional 165 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in MongoDB in the 3rd quarter valued at approximately $44,000. 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.