Citigroup Lowers MongoDB (NASDAQ:MDB) Price Target to $330.00

MongoDB (NASDAQ:MDB) had its price target dropped by stock analysts at Citigroup from $430.00 to $330.00 in a note issued to investors on Tuesday, Marketbeat Ratings reports. The firm presently has a “buy” rating on the stock. Citigroup’s price target indicates a potential upside of 83.14% from the company’s current price.

A number of other research analysts have also issued reports on MDB. Royal Bank of Canada lowered their target price on MongoDB from $400.00 to $320.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Rosenblatt Securities reissued a “buy” rating and set a $350.00 target price on shares of MongoDB in a research note on Tuesday, March 4th. The Goldman Sachs Group dropped their price target on MongoDB from $390.00 to $335.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Bank of America cut their target price on MongoDB from $420.00 to $286.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Finally, Macquarie dropped their price target on MongoDB from $300.00 to $215.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Seven equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, MongoDB has a consensus rating of “Moderate Buy” and an average target price of $312.84.

MongoDB Trading Up 2.0 %

MongoDB stock opened at $180.19 on Tuesday. MongoDB has a 52 week low of $170.66 and a 52 week high of $387.19. The stock has a market cap of $14.63 billion, a price-to-earnings ratio of -65.76 and a beta of 1.30. The company’s 50-day moving average price is $240.77 and its two-hundred day moving average price is $263.72.

MongoDB (NASDAQ:MDB) last announced its 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 firm had revenue of $548.40 million for 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 period in the previous year, the firm earned $0.86 EPS. Research analysts expect that MongoDB will post -1.78 earnings per share for the current fiscal year.

Insider Activity at MongoDB

In other news, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $266.00, for a total value of $798,000.00. Following the transaction, the director now directly owns 1,113,006 shares in the company, valued at approximately $296,059,596. The trade was a 0.27 % 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, CEO Dev Ittycheria sold 8,335 shares of the business’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $254.86, for a total value of $2,124,258.10. Following the transaction, the chief executive officer now directly owns 217,294 shares of the company’s stock, valued at $55,379,548.84. This represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,857 shares of company stock valued at $9,613,306. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Strategic Investment Solutions Inc. IL bought a new stake in shares of MongoDB in the fourth quarter valued at approximately $29,000. Hilltop National Bank raised its stake in MongoDB by 47.2% during the 4th quarter. Hilltop National Bank now owns 131 shares of the company’s stock valued at $30,000 after purchasing an additional 42 shares during the last quarter. Continuum Advisory LLC boosted its holdings in MongoDB by 621.1% in the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after purchasing an additional 118 shares during the period. NCP Inc. acquired a new stake in MongoDB in the 4th quarter worth $35,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of MongoDB during the 3rd quarter worth about $44,000. 89.29% of the stock is owned by institutional investors.

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.