Barclays Cuts MongoDB (NASDAQ:MDB) Price Target to $252.00

MongoDB (NASDAQ:MDB) had its price objective decreased by Barclays from $280.00 to $252.00 in a research report sent to investors on Friday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other equities research analysts also recently weighed in on the stock. Redburn Atlantic raised shares of MongoDB from a “sell” rating to a “neutral” rating and set a $170.00 price target for the company in a research report on Thursday, April 17th. Morgan Stanley reduced their price target on shares of MongoDB from $315.00 to $235.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Daiwa America raised shares of MongoDB to a “strong-buy” rating in a research report on Tuesday, April 1st. Scotiabank reaffirmed a “sector perform” rating and issued a $160.00 target price (down previously from $240.00) on shares of MongoDB in a research report on Friday, April 25th. Finally, Daiwa Capital Markets assumed coverage on shares of MongoDB in a research report on Tuesday, April 1st. They issued an “outperform” rating and a $202.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $293.91.

MongoDB Stock Performance

Shares of NASDAQ MDB opened at $191.29 on Friday. MongoDB has a fifty-two week low of $140.78 and a fifty-two week high of $379.06. The company has a 50 day simple moving average of $174.91 and a two-hundred day simple moving average of $238.95. The company has a market capitalization of $15.53 billion, a price-to-earnings ratio of -69.81 and a beta of 1.49.

MongoDB (NASDAQ:MDB) last announced its earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). The business had revenue of $548.40 million for the quarter, compared to the consensus estimate of $519.65 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. During the same period in the prior year, the business posted $0.86 EPS. On average, analysts forecast that MongoDB will post -1.78 earnings per share for the current fiscal year.

Insider Buying and Selling at MongoDB

In other news, CFO Srdjan Tanjga sold 525 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total value of $90,961.50. Following the sale, the chief financial officer now directly owns 6,406 shares in the company, valued at $1,109,903.56. The trade was a 7.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Cedric Pech sold 1,690 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 $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. This trade represents a 2.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,423 shares of company stock worth $7,148,369. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

Several hedge funds have recently added to or reduced their stakes in MDB. Jericho Capital Asset Management L.P. bought a new position in MongoDB during the 1st quarter valued at about $161,543,000. Norges Bank bought a new position in MongoDB during the 4th quarter valued at about $189,584,000. Primecap Management Co. CA grew its holdings in MongoDB by 863.5% during the 1st quarter. Primecap Management Co. CA now owns 870,550 shares of the company’s stock valued at $152,694,000 after purchasing an additional 780,200 shares during the last quarter. Westfield Capital Management Co. LP purchased a new stake in MongoDB in the 1st quarter valued at about $128,706,000. Finally, Vanguard Group Inc. boosted its position in MongoDB by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 7,809,768 shares of the company’s stock valued at $1,369,833,000 after buying an additional 481,023 shares during the period. 89.29% of the stock is currently 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.