MongoDB (NASDAQ:MDB) Price Target Cut to $330.00 by Analysts at Barclays

MongoDB (NASDAQ:MDB) had its price target decreased by investment analysts at Barclays from $400.00 to $330.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 34.57% from the company’s previous close.

MDB has been the subject of several other reports. Wells Fargo & Company boosted their price target on MongoDB from $350.00 to $425.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Monness Crespi & Hardt cut MongoDB from a “neutral” rating to a “sell” rating and set a $220.00 target price for the company. in a research note on Monday, December 16th. Citigroup upped their target price on MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. KeyCorp upped their target price on MongoDB from $330.00 to $375.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, Scotiabank upped their target price on MongoDB from $295.00 to $350.00 and gave the stock a “sector perform” rating in a research note on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $364.64.

MongoDB Stock Down 1.4 %

Shares of NASDAQ:MDB opened at $245.22 on Friday. MongoDB has a 12-month low of $212.74 and a 12-month high of $509.62. The stock has a market cap of $18.26 billion, a PE ratio of -89.50 and a beta of 1.25. The business has a 50 day moving average of $281.86 and a 200-day moving average of $269.39.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.48. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company had revenue of $529.40 million during the quarter, compared to analysts’ expectations of $497.39 million. During the same quarter in the previous year, the company posted $0.96 earnings per share. The business’s revenue was up 22.3% on a year-over-year basis. Equities research analysts expect that MongoDB will post -1.86 earnings per share for the current year.

Insider Buying and Selling at MongoDB

In other news, insider Cedric Pech sold 287 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total transaction of $67,183.83. Following the transaction, the insider now owns 24,390 shares of the company’s stock, valued at $5,709,455.10. This represents a 1.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Thomas Bull sold 1,000 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $355.92, for a total transaction of $355,920.00. Following the transaction, the chief accounting officer now directly owns 15,068 shares in the company, valued at $5,363,002.56. This trade represents a 6.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,161 shares of company stock valued at $8,427,806. 3.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MongoDB

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Aigen Investment Management LP bought a new position in MongoDB in the 3rd quarter valued at about $1,045,000. Geode Capital Management LLC increased its stake in MongoDB by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock valued at $331,776,000 after buying an additional 34,814 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in MongoDB in the 3rd quarter valued at about $4,366,000. Charles Schwab Investment Management Inc. increased its stake in MongoDB by 2.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 278,419 shares of the company’s stock valued at $75,271,000 after buying an additional 7,575 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of MongoDB during the 2nd quarter worth approximately $1,860,000. Institutional investors own 89.29% of the company’s stock.

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.