Loop Capital Trims MongoDB (NASDAQ:MDB) Target Price to $315.00

MongoDB (NASDAQ:MDBFree Report) had its price objective reduced by Loop Capital from $415.00 to $315.00 in a research report report published on Friday, Benzinga reports. Loop Capital currently has a buy rating on the stock.

Several other brokerages also recently commented on MDB. Truist Financial reduced their target price on MongoDB from $475.00 to $300.00 and set a buy rating on the stock in a report on Friday. Redburn Atlantic reissued a sell rating and issued a $295.00 target price (down from $410.00) on shares of MongoDB in a report on Tuesday, March 19th. Monness Crespi & Hardt upgraded shares of MongoDB to a hold rating in a research report on Tuesday, May 28th. Canaccord Genuity Group dropped their price objective on shares of MongoDB from $435.00 to $325.00 and set a buy rating for the company in a research report on Friday. Finally, JMP Securities dropped their price objective on shares of MongoDB from $440.00 to $380.00 and set a market outperform rating for the company in a research report on Friday. Two research analysts have rated the stock with a sell rating, four have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $374.29.

Check Out Our Latest Analysis on MDB

MongoDB Stock Down 23.9 %

MDB stock opened at $236.06 on Friday. MongoDB has a twelve month low of $225.25 and a twelve month high of $509.62. The company has a market cap of $17.19 billion, a PE ratio of -84.01 and a beta of 1.19. The business’s 50-day simple moving average is $353.32 and its 200 day simple moving average is $390.71. The company has a quick ratio of 4.40, a current ratio of 4.40 and a debt-to-equity ratio of 1.07.

MongoDB (NASDAQ:MDBGet Free Report) last released its quarterly earnings data on Thursday, March 7th. The company reported ($1.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.32). The company had revenue of $458.00 million for the quarter, compared to analyst estimates of $431.99 million. MongoDB had a negative net margin of 11.50% and a negative return on equity of 16.00%. On average, research analysts anticipate that MongoDB will post -2.53 earnings per share for the current year.

Insider Transactions at MongoDB

In other news, Director Dwight A. Merriman sold 1,000 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $363.01, for a total transaction of $363,010.00. Following the completion of the transaction, the director now directly owns 523,896 shares in the company, valued at approximately $190,179,486.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Dwight A. Merriman sold 6,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $374.95, for a total value of $2,249,700.00. Following the sale, the director now directly owns 1,148,784 shares of the company’s stock, valued at approximately $430,736,560.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Dwight A. Merriman sold 1,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $363.01, for a total transaction of $363,010.00. Following the completion of the sale, the director now directly owns 523,896 shares in the company, valued at $190,179,486.96. The disclosure for this sale can be found here. Insiders sold a total of 46,802 shares of company stock worth $16,514,071 in the last three months. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MDB. abrdn plc raised its holdings in MongoDB by 46.0% in the 3rd quarter. abrdn plc now owns 22,803 shares of the company’s stock valued at $7,887,000 after acquiring an additional 7,188 shares during the period. Metis Global Partners LLC raised its holdings in MongoDB by 7.3% in the 3rd quarter. Metis Global Partners LLC now owns 1,950 shares of the company’s stock valued at $674,000 after acquiring an additional 133 shares during the period. Chartwell Investment Partners LLC bought a new position in shares of MongoDB during the third quarter worth approximately $1,611,000. Qsemble Capital Management LP bought a new position in shares of MongoDB during the third quarter worth approximately $252,000. Finally, Oppenheimer Asset Management Inc. increased its holdings in shares of MongoDB by 52.9% during the third quarter. Oppenheimer Asset Management Inc. now owns 5,336 shares of the company’s stock worth $1,846,000 after purchasing an additional 1,846 shares during the period. 89.29% of the stock is owned by institutional investors.

About MongoDB

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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.

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Analyst Recommendations for MongoDB (NASDAQ:MDB)

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