Robert W. Baird Cuts MongoDB (NASDAQ:MDB) Price Target to $300.00

MongoDB (NASDAQ:MDB) had its price objective reduced by Robert W. Baird from $390.00 to $300.00 in a report issued on Thursday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

MDB has been the subject of a number of other reports. China Renaissance initiated coverage on MongoDB in a research note on Tuesday, January 21st. They issued a “buy” rating and a $351.00 target price for the company. Royal Bank of Canada lifted their target price on MongoDB from $350.00 to $400.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Macquarie initiated coverage on MongoDB in a research note on Thursday, December 12th. They issued a “neutral” rating and a $300.00 target price for the company. UBS Group set a $350.00 target price on MongoDB in a research note on Tuesday. Finally, The Goldman Sachs Group lifted their price target on MongoDB from $340.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, MongoDB has an average rating of “Moderate Buy” and an average price target of $319.87.

MongoDB Stock Performance

NASDAQ:MDB opened at $187.65 on Thursday. The company has a market capitalization of $13.97 billion, a price-to-earnings ratio of -68.49 and a beta of 1.30. MongoDB has a one year low of $181.05 and a one year high of $387.19. The stock has a 50-day simple moving average of $261.68 and a 200 day simple moving average of $274.38.

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

Insiders Place Their Bets

In other MongoDB news, CAO Thomas Bull sold 1,000 shares of MongoDB stock in a transaction that occurred on Monday, December 9th. The shares were 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 approximately $5,363,002.56. The trade was a 6.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $270.63, for a total transaction of $811,890.00. Following the transaction, the director now owns 1,109,006 shares in the company, valued at approximately $300,130,293.78. The trade was a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,314 shares of company stock worth $13,337,753. 3.60% of the stock is owned by insiders.

Hedge Funds Weigh In On MongoDB

Several institutional investors and hedge funds have recently added to or reduced their stakes in MDB. Nisa Investment Advisors LLC grew its position in MongoDB by 3.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the company’s stock worth $295,000 after purchasing an additional 40 shares in the last quarter. US Bancorp DE grew its position in MongoDB by 9.1% during the 3rd quarter. US Bancorp DE now owns 3,869 shares of the company’s stock worth $1,046,000 after purchasing an additional 324 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in MongoDB during the 3rd quarter worth approximately $861,000. Principal Financial Group Inc. grew its position in MongoDB by 2.7% during the 3rd quarter. Principal Financial Group Inc. now owns 6,095 shares of the company’s stock worth $1,648,000 after purchasing an additional 160 shares in the last quarter. Finally, Atria Investments Inc grew its position in MongoDB by 6.6% during the 3rd quarter. Atria Investments Inc now owns 2,175 shares of the company’s stock worth $588,000 after purchasing an additional 135 shares in the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

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.