Morgan Stanley Lowers MongoDB (NASDAQ:MDB) Price Target to $235.00

MongoDB (NASDAQ:MDB) had its price objective reduced by stock analysts at Morgan Stanley from $315.00 to $235.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 47.56% from the stock’s current price.

A number of other research firms also recently weighed in on MDB. Cantor Fitzgerald began coverage on MongoDB in a research report on Wednesday, March 5th. They set an “overweight” rating and a $344.00 price target on the stock. UBS Group set a $350.00 price target on shares of MongoDB in a research report on Tuesday, March 4th. Tigress Financial lifted their price objective on shares of MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. China Renaissance initiated coverage on shares of MongoDB in a report on Tuesday, January 21st. They issued a “buy” rating and a $351.00 target price on the stock. Finally, Daiwa Capital Markets started coverage on shares of MongoDB in a research note on Tuesday, April 1st. They issued an “outperform” rating and a $202.00 target price for the company. Eight analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $299.78.

MongoDB Stock Down 0.5 %

Shares of MDB opened at $159.26 on Wednesday. MongoDB has a twelve month low of $140.78 and a twelve month high of $387.19. The stock has a market capitalization of $12.93 billion, a P/E ratio of -58.12 and a beta of 1.49. The company has a 50 day moving average of $210.69 and a 200-day moving average of $253.11.

MongoDB (NASDAQ:MDB) last issued 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 net margin of 10.46% and a negative return on equity of 12.22%. The business had revenue of $548.40 million during the quarter, compared to analyst estimates of $519.65 million. During the same quarter in the previous year, the firm posted $0.86 earnings per share. On average, sell-side analysts anticipate that MongoDB will post -1.78 earnings per share for the current fiscal year.

Insider Transactions at MongoDB

In other MongoDB news, CEO Dev Ittycheria sold 18,512 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 transaction of $3,207,389.12. Following the completion of the transaction, the chief executive officer now owns 268,948 shares of the company’s stock, valued at approximately $46,597,930.48. The trade was a 6.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Cedric Pech sold 1,690 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total transaction of $292,809.40. Following the completion of the sale, the insider now owns 57,634 shares in the company, valued at approximately $9,985,666.84. The trade was a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,680 shares of company stock valued at $11,084,027. Company insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

A number of hedge funds have recently added to or reduced their stakes in MDB. Morse Asset Management Inc acquired a new position in shares of MongoDB during the third quarter worth $81,000. Coldstream Capital Management Inc. bought a new stake in MongoDB during the 3rd quarter worth $209,000. Virtu Financial LLC increased its holdings in MongoDB by 351.2% in the 3rd quarter. Virtu Financial LLC now owns 10,016 shares of the company’s stock worth $2,708,000 after purchasing an additional 7,796 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in MongoDB in the third quarter valued at about $44,000. Finally, Tidal Investments LLC boosted its stake in shares of MongoDB by 76.8% during the third quarter. Tidal Investments LLC now owns 7,859 shares of the company’s stock valued at $2,125,000 after purchasing an additional 3,415 shares in the last quarter. Institutional investors and hedge funds 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.