MongoDB (NASDAQ:MDB) Sets New 12-Month Low on Analyst Downgrade

Shares of MongoDB, Inc. (NASDAQ:MDB) reached a new 52-week low during mid-day trading on Monday after Citigroup lowered their price target on the stock from $430.00 to $330.00. Citigroup currently has a buy rating on the stock. MongoDB traded as low as $171.21 and last traded at $174.84, with a volume of 155238 shares trading hands. The stock had previously closed at $178.03.

Several other analysts have also commented on the stock. Cantor Fitzgerald began coverage on shares of MongoDB in a report on Wednesday, March 5th. They issued an “overweight” rating and a $344.00 price objective for the company. Guggenheim raised MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 target price on the stock in a report on Monday, January 6th. UBS Group set a $350.00 target price on shares of MongoDB in a report on Tuesday, March 4th. Tigress Financial upped their price objective on MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Finally, Truist Financial lowered their target price on shares of MongoDB from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Monday. Seven research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $312.84.

Insider Buying and Selling

In related news, CFO Michael Lawrence Gordon sold 1,245 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total transaction of $291,442.05. Following the completion of the transaction, the chief financial officer now directly owns 79,062 shares of the company’s stock, valued at approximately $18,507,623.58. This trade represents a 1.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Thomas Bull sold 169 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $39,561.21. Following the completion of the sale, the chief accounting officer now owns 14,899 shares in the company, valued at approximately $3,487,706.91. The trade was a 1.12 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,139 shares of company stock valued at $11,328,869. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

Large investors have recently bought and sold shares of the business. Strategic Investment Solutions Inc. IL purchased a new position in MongoDB in the fourth quarter worth about $29,000. Hilltop National Bank boosted its position in MongoDB by 47.2% in the 4th quarter. Hilltop National Bank now owns 131 shares of the company’s stock valued at $30,000 after buying an additional 42 shares during the period. NCP Inc. purchased a new stake in shares of MongoDB in the fourth quarter valued at approximately $35,000. Continuum Advisory LLC grew its position in shares of MongoDB by 621.1% during the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock worth $40,000 after buying an additional 118 shares in the last quarter. Finally, Versant Capital Management Inc increased its stake in shares of MongoDB by 1,100.0% during the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock valued at $42,000 after buying an additional 165 shares during the period. Institutional investors own 89.29% of the company’s stock.

MongoDB Trading Up 0.7 %

The firm has a market cap of $14.34 billion, a PE ratio of -64.46 and a beta of 1.30. The business’s 50-day simple moving average is $242.38 and its 200 day simple moving average is $264.31.

MongoDB (NASDAQ:MDB) last announced 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 return on equity of 12.22% and a negative net margin of 10.46%. The firm had revenue of $548.40 million during the quarter, compared to the consensus estimate of $519.65 million. During the same quarter in the prior year, the firm posted $0.86 earnings per share. Analysts expect that MongoDB, Inc. will post -1.78 earnings per share for the current year.

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.