Monness Crespi & Hardt Downgrades MongoDB (NASDAQ:MDB) to Sell

Monness Crespi & Hardt cut shares of MongoDB (NASDAQ:MDB) from a neutral rating to a sell rating in a research note published on Monday morning, Marketbeat Ratings reports. Monness Crespi & Hardt currently has $220.00 target price on the stock.

Other equities analysts have also recently issued reports about the company. JMP Securities restated a “market outperform” rating and set a $380.00 target price on shares of MongoDB in a report on Wednesday, December 11th. Wells Fargo & Company increased their price target on shares of MongoDB from $350.00 to $425.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Bank of America lifted their price objective on shares of MongoDB from $300.00 to $350.00 and gave the company a “buy” rating in a report on Friday, August 30th. Oppenheimer increased their target price on shares of MongoDB from $350.00 to $400.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Finally, Citigroup boosted their price target on shares of MongoDB from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $365.63.

MongoDB Price Performance

Shares of MDB stock opened at $265.63 on Monday. MongoDB has a 1-year low of $212.74 and a 1-year high of $509.62. The firm has a market cap of $19.62 billion, a PE ratio of -97.69 and a beta of 1.17. The company has a 50-day moving average of $293.17 and a two-hundred day moving average of $267.61.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.48. The firm had revenue of $529.40 million during the quarter, compared to analysts’ expectations of $497.39 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The firm’s quarterly revenue was up 22.3% on a year-over-year basis. During the same quarter last year, the company posted $0.96 EPS. Sell-side analysts anticipate that MongoDB will post -2.29 EPS for the current fiscal year.

Insider Activity at MongoDB

In other MongoDB news, CAO Thomas Bull sold 154 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total transaction of $39,462.50. Following the completion of the sale, the chief accounting officer now directly owns 16,068 shares of the company’s stock, valued at $4,117,425. This represents a 0.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total value of $768,750.00. Following the completion of the transaction, the director now owns 1,131,006 shares in the company, valued at $289,820,287.50. This trade represents a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,600 shares of company stock valued at $7,611,849 in the last three months. 3.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MongoDB

Several hedge funds have recently modified their holdings of the stock. Blue Trust Inc. lifted its position in MongoDB by 26.6% in the second quarter. Blue Trust Inc. now owns 538 shares of the company’s stock valued at $134,000 after purchasing an additional 113 shares during the period. Fifth Third Bancorp lifted its holdings in shares of MongoDB by 7.6% in the 2nd quarter. Fifth Third Bancorp now owns 620 shares of the company’s stock valued at $155,000 after buying an additional 44 shares during the period. MFA Wealth Advisors LLC purchased a new stake in shares of MongoDB in the second quarter valued at approximately $25,000. MN Wealth Advisors LLC acquired a new position in MongoDB during the second quarter worth $576,000. Finally, Louisiana State Employees Retirement System lifted its holdings in MongoDB by 1.8% in the second quarter. Louisiana State Employees Retirement System now owns 5,800 shares of the company’s stock valued at $1,450,000 after acquiring an additional 100 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

MongoDB Company Profile

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.