MongoDB (NASDAQ:MDB) Price Target Cut to $325.00 by Analysts at Canaccord Genuity Group

MongoDB (NASDAQ:MDBFree Report) had its price objective trimmed by Canaccord Genuity Group from $435.00 to $325.00 in a report released on Friday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts have also issued reports on the company. KeyCorp decreased their target price on MongoDB from $490.00 to $440.00 and set an overweight rating on the stock in a research report on Thursday, April 18th. Robert W. Baird decreased their target price on MongoDB from $450.00 to $305.00 and set an outperform rating on the stock in a research report on Friday. Mizuho decreased their target price on MongoDB from $380.00 to $250.00 and set a neutral rating on the stock in a research report on Friday. Piper Sandler decreased their target price on MongoDB from $480.00 to $350.00 and set an overweight rating on the stock in a research report on Friday. Finally, Stifel Nicolaus decreased their target price on MongoDB from $435.00 to $300.00 and set a buy rating on the stock in a research report on Friday. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $374.29.

Read Our Latest Report on MongoDB

MongoDB Trading Down 23.9 %

MongoDB stock opened at $236.06 on Friday. The company has a current ratio of 4.40, a quick ratio of 4.40 and a debt-to-equity ratio of 1.07. MongoDB has a 12 month low of $225.25 and a 12 month high of $509.62. The stock’s 50 day simple moving average is $353.32 and its two-hundred day simple moving average is $390.71. The firm has a market cap of $17.19 billion, a PE ratio of -84.01 and a beta of 1.19.

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

Insider Activity at MongoDB

In related news, CAO Thomas Bull sold 170 shares of the business’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 sale, the chief accounting officer now directly owns 17,360 shares in the company, valued at approximately $6,043,363.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CAO Thomas Bull sold 170 shares of the business’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 sale, the chief accounting officer now directly owns 17,360 shares in the company, valued at approximately $6,043,363.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Dwight A. Merriman sold 1,000 shares of the business’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 owns 523,896 shares in the company, valued at $190,179,486.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,802 shares of company stock worth $16,514,071. Company insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

A number of institutional investors and hedge funds have recently bought and sold shares of MDB. Transcendent Capital Group LLC purchased a new stake in MongoDB during the fourth quarter worth about $25,000. Blue Trust Inc. increased its stake in MongoDB by 937.5% during the fourth quarter. Blue Trust Inc. now owns 83 shares of the company’s stock worth $34,000 after purchasing an additional 75 shares during the period. Huntington National Bank increased its stake in MongoDB by 279.3% during the third quarter. Huntington National Bank now owns 110 shares of the company’s stock worth $38,000 after purchasing an additional 81 shares during the period. YHB Investment Advisors Inc. purchased a new stake in MongoDB during the first quarter worth about $41,000. Finally, Parkside Financial Bank & Trust increased its stake in MongoDB by 38.3% during the third quarter. Parkside Financial Bank & Trust now owns 130 shares of the company’s stock worth $45,000 after purchasing an additional 36 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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Analyst Recommendations for MongoDB (NASDAQ:MDB)

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