MongoDB (NASDAQ:MDB) Price Target Cut to $250.00

MongoDB (NASDAQ:MDBFree Report) had its price objective cut by Mizuho from $380.00 to $250.00 in a report released on Friday morning, Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts have also recently commented on MDB. Bank of America cut their target price on shares of MongoDB from $500.00 to $470.00 and set a buy rating on the stock in a report on Friday, May 17th. Truist Financial dropped their price objective on shares of MongoDB from $475.00 to $300.00 and set a buy rating on the stock in a research note on Friday. Citigroup boosted their price objective on shares of MongoDB from $515.00 to $550.00 and gave the company a buy rating in a research note on Wednesday, March 6th. Piper Sandler dropped their price objective on shares of MongoDB from $480.00 to $350.00 and set an overweight rating on the stock in a research note on Friday. Finally, Guggenheim boosted their price objective on shares of MongoDB from $250.00 to $272.00 and gave the company a sell rating in a research note on Monday, March 4th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, MongoDB presently has an average rating of Moderate Buy and an average target price of $374.29.

View Our Latest Report on MDB

MongoDB Stock Performance

Shares of MongoDB stock opened at $236.06 on Friday. The firm’s fifty day simple moving average is $353.32 and its 200-day simple moving average is $390.71. The stock has a market capitalization of $17.19 billion, a price-to-earnings ratio of -84.01 and a beta of 1.19. MongoDB has a 12 month low of $225.25 and a 12 month high of $509.62. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.40 and a quick ratio of 4.40.

MongoDB (NASDAQ:MDBGet Free Report) last announced its earnings results on Thursday, March 7th. The company reported ($1.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.32). The business had revenue of $458.00 million during 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%. As a group, equities analysts forecast that MongoDB will post -2.53 earnings per share for the current year.

Insider Buying and Selling

In other MongoDB news, CEO Dev Ittycheria sold 17,160 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $348.11, for a total value of $5,973,567.60. Following the transaction, the chief executive officer now directly owns 226,073 shares in the company, valued at approximately $78,698,272.03. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other MongoDB news, CAO Thomas Bull sold 170 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $348.12, for a total value of $59,180.40. Following the transaction, the chief accounting officer now directly owns 17,360 shares in the company, valued at approximately $6,043,363.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Dev Ittycheria sold 17,160 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $348.11, for a total transaction of $5,973,567.60. Following the completion of the transaction, the chief executive officer now owns 226,073 shares in the company, valued at $78,698,272.03. The disclosure for this sale can be found here. Insiders have sold 46,802 shares of company stock worth $16,514,071 in the last three months. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MDB. abrdn plc lifted its holdings in shares of MongoDB by 46.0% during the 3rd quarter. abrdn plc now owns 22,803 shares of the company’s stock worth $7,887,000 after acquiring an additional 7,188 shares during the period. Metis Global Partners LLC lifted its holdings in shares of MongoDB by 7.3% during the 3rd quarter. Metis Global Partners LLC now owns 1,950 shares of the company’s stock worth $674,000 after acquiring an additional 133 shares during the period. Chartwell Investment Partners LLC purchased a new position in shares of MongoDB during the 3rd quarter worth about $1,611,000. Qsemble Capital Management LP purchased a new position in shares of MongoDB during the 3rd quarter worth about $252,000. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of MongoDB by 52.9% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 5,336 shares of the company’s stock worth $1,846,000 after acquiring an additional 1,846 shares during the period. 89.29% of the stock is currently owned by hedge funds and other 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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