MongoDB (NASDAQ:MDB) Given New $275.00 Price Target at Truist Financial

MongoDB (NASDAQ:MDB) had its target price cut by Truist Financial from $300.00 to $275.00 in a research note released on Monday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also recently weighed in on the stock. Robert W. Baird dropped their price objective on shares of MongoDB from $390.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Morgan Stanley dropped their target price on MongoDB from $350.00 to $315.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. Monness Crespi & Hardt raised MongoDB from a “sell” rating to a “neutral” rating in a research report on Monday, March 3rd. Bank of America decreased their price objective on MongoDB from $420.00 to $286.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Finally, Barclays cut their target price on MongoDB from $330.00 to $280.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, MongoDB currently has an average rating of “Moderate Buy” and an average target price of $319.87.

MongoDB Stock Down 1.5 %

MDB opened at $175.40 on Monday. The stock’s fifty day moving average is $244.01 and its two-hundred day moving average is $265.11. The company has a market capitalization of $14.24 billion, a P/E ratio of -64.01 and a beta of 1.30. MongoDB has a 52 week low of $170.85 and a 52 week high of $387.19.

MongoDB (NASDAQ:MDB) last announced its quarterly 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). MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The firm had revenue of $548.40 million for the quarter, compared to analysts’ expectations of $519.65 million. During the same quarter in the prior year, the business posted $0.86 EPS. Equities analysts anticipate that MongoDB will post -1.78 earnings per share for the current year.

Insider Transactions at MongoDB

In other news, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $237.73, for a total transaction of $713,190.00. Following the completion of the transaction, the director now directly owns 1,117,006 shares of the company’s stock, valued at $265,545,836.38. The trade was a 0.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dev Ittycheria sold 8,335 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $254.86, for a total transaction of $2,124,258.10. Following the sale, the chief executive officer now directly owns 217,294 shares in the company, valued at $55,379,548.84. This trade represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,139 shares of company stock worth $11,328,869 over the last 90 days. 3.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MongoDB

Hedge funds have recently modified their holdings of the company. B.O.S.S. Retirement Advisors LLC purchased a new position in shares of MongoDB in the 4th quarter valued at about $606,000. Geode Capital Management LLC grew its holdings in MongoDB by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock valued at $331,776,000 after purchasing an additional 34,814 shares during the period. Union Bancaire Privee UBP SA purchased a new stake in shares of MongoDB in the fourth quarter valued at approximately $3,515,000. Nisa Investment Advisors LLC raised its stake in shares of MongoDB by 428.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,755 shares of the company’s stock worth $1,340,000 after buying an additional 4,665 shares during the period. Finally, HighTower Advisors LLC lifted its position in shares of MongoDB by 2.0% during the 4th quarter. HighTower Advisors LLC now owns 18,773 shares of the company’s stock valued at $4,371,000 after buying an additional 372 shares in the last quarter. 89.29% of the stock is owned by hedge funds and other 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.