MongoDB (NASDAQ:MDB) Price Target Lowered to $300.00 at Truist Financial

MongoDB (NASDAQ:MDB) had its target price cut by Truist Financial from $400.00 to $300.00 in a research note released on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms also recently commented on MDB. Rosenblatt Securities reaffirmed a “buy” rating and issued a $350.00 target price on shares of MongoDB in a research report on Tuesday. Needham & Company LLC decreased their target price on MongoDB from $415.00 to $270.00 and set a “buy” rating on the stock in a research report on Thursday. UBS Group set a $350.00 target price on MongoDB in a research report on Tuesday. Wedbush decreased their target price on MongoDB from $360.00 to $300.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Canaccord Genuity Group decreased their target price on MongoDB from $385.00 to $320.00 and set a “buy” rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $322.61.

MongoDB Stock Down 26.9 %

Shares of NASDAQ MDB opened at $192.98 on Thursday. The business’s 50 day moving average price is $262.69 and its two-hundred day moving average price is $274.71. The company has a market cap of $14.37 billion, a PE ratio of -70.43 and a beta of 1.30. MongoDB has a twelve month low of $192.79 and a twelve month high of $413.87.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share 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 business had revenue of $548.40 million for the quarter, compared to analyst estimates of $519.65 million. During the same period last year, the firm earned $0.86 EPS. As a group, research analysts anticipate that MongoDB will post -1.78 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Cedric Pech sold 287 shares of the firm’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 $67,183.83. Following the completion of the transaction, the insider now directly owns 24,390 shares of the company’s stock, valued at $5,709,455.10. This trade represents a 1.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 value of $355,920.00. Following the sale, the chief accounting officer now owns 15,068 shares of the company’s stock, valued at approximately $5,363,002.56. The trade was a 6.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,314 shares of company stock valued at $13,337,753 in the last three months. Insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

A number of large investors have recently bought and sold shares of MDB. Strategic Investment Solutions Inc. IL acquired a new stake in MongoDB during the 4th quarter worth about $29,000. Hilltop National Bank grew its stake in shares of 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. acquired a new stake in shares of MongoDB in the 4th quarter valued at about $35,000. Brooklyn Investment Group acquired a new stake in shares of MongoDB in the 3rd quarter valued at about $36,000. Finally, Continuum Advisory LLC grew its stake in shares of MongoDB by 621.1% in the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after buying an additional 118 shares during the period. 89.29% of the stock is currently 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.