MongoDB (NASDAQ:MDB) Price Target Lowered to $275.00 at Scotiabank

MongoDB (NASDAQ:MDB) had its price objective cut by equities research analysts at Scotiabank from $350.00 to $275.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s target price suggests a potential upside of 5.49% from the company’s current price.

A number of other research analysts have also weighed in on the company. Truist Financial reaffirmed a “buy” rating and set a $400.00 target price (up previously from $320.00) on shares of MongoDB in a report on Tuesday, December 10th. Royal Bank of Canada boosted their price objective on shares of MongoDB from $350.00 to $400.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Monness Crespi & Hardt cut shares of MongoDB from a “neutral” rating to a “sell” rating and set a $220.00 target price on the stock. in a research note on Monday, December 16th. Cantor Fitzgerald began coverage on shares of MongoDB in a research report on Friday, January 17th. They set an “overweight” rating and a $344.00 price target for the company. Finally, Citigroup upped their price target on shares of MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $361.00.

MongoDB Stock Up 1.1 %

NASDAQ MDB opened at $260.70 on Tuesday. The firm has a market cap of $19.41 billion, a P/E ratio of -95.15 and a beta of 1.25. The company’s 50 day moving average is $276.80 and its 200-day moving average is $269.05. MongoDB has a 12-month low of $212.74 and a 12-month high of $509.62.

MongoDB (NASDAQ:MDB) last issued its earnings results on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.48. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business had revenue of $529.40 million for the quarter, compared to analysts’ expectations of $497.39 million. During the same quarter in the previous year, the firm posted $0.96 EPS. The business’s revenue for the quarter was up 22.3% compared to the same quarter last year. Equities analysts expect that MongoDB will post -1.79 EPS for the current year.

Insider Activity at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $269.57, for a total transaction of $808,710.00. Following the completion of the sale, the director now owns 1,127,006 shares of the company’s stock, valued at $303,807,007.42. This represents a 0.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Thomas Bull sold 1,000 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $355.92, for a total transaction of $355,920.00. Following the completion of the transaction, the chief accounting officer now owns 15,068 shares in the company, valued at $5,363,002.56. The trade was a 6.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,156 shares of company stock worth $8,955,473 in the last ninety days. 3.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On MongoDB

Large investors have recently made changes to their positions in the business. Hilltop National Bank raised its stake in MongoDB by 47.2% in the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after buying an additional 42 shares in the last quarter. Quarry LP grew its holdings in shares of MongoDB by 2,580.0% during the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after acquiring an additional 129 shares during the period. Brooklyn Investment Group purchased a new position in shares of MongoDB during the 3rd quarter worth approximately $36,000. GAMMA Investing LLC lifted its stake in shares of MongoDB by 178.8% in the 3rd quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock valued at $39,000 after purchasing an additional 93 shares during the period. Finally, Continuum Advisory LLC boosted its position in shares of MongoDB by 621.1% during the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after purchasing an additional 118 shares in the last quarter. 89.29% of the stock is currently owned by 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.