MongoDB (NASDAQ:MDB) Downgraded by Morgan Stanley

Morgan Stanley downgraded shares of MongoDB (NASDAQ:MDBGet Rating) from an overweight rating to an equal weight rating in a research note published on Monday, Marketbeat.com reports. Morgan Stanley currently has $215.00 price objective on the stock, down from their previous price objective of $368.00.

Other analysts also recently issued research reports about the company. Piper Sandler dropped their price target on MongoDB from $350.00 to $270.00 and set an overweight rating on the stock in a research note on Thursday, October 20th. Robert W. Baird dropped their price target on MongoDB from $360.00 to $330.00 and set an outperform rating on the stock in a research note on Thursday, September 1st. Stifel Nicolaus lowered their target price on MongoDB from $340.00 to $320.00 and set a buy rating on the stock in a research report on Thursday, September 1st. Needham & Company LLC lowered their target price on MongoDB from $350.00 to $330.00 and set a buy rating on the stock in a research report on Thursday, September 1st. Finally, Truist Financial began coverage on MongoDB in a research report on Friday, September 30th. They issued a buy rating and a $300.00 target price on the stock. Three research analysts have rated the stock with a hold rating and eighteen have given 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 $345.90.

MongoDB Stock Performance

Shares of MongoDB stock opened at $150.77 on Monday. The company has a market capitalization of $10.36 billion, a PE ratio of -28.13 and a beta of 1.07. MongoDB has a 12 month low of $135.15 and a 12 month high of $570.58. The company has a current ratio of 4.02, a quick ratio of 4.02 and a debt-to-equity ratio of 1.70. The stock’s fifty day simple moving average is $181.02 and its 200 day simple moving average is $250.78.

MongoDB (NASDAQ:MDBGet Rating) last released its quarterly earnings results on Wednesday, August 31st. The company reported ($1.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.52) by ($0.17). MongoDB had a negative net margin of 33.43% and a negative return on equity of 52.05%. The firm had revenue of $303.66 million during the quarter, compared to analyst estimates of $282.31 million. During the same period in the prior year, the business earned ($1.15) EPS. The business’s revenue for the quarter was up 52.8% compared to the same quarter last year. On average, research analysts predict that MongoDB will post -5.37 EPS for the current year.

Insider Transactions at MongoDB

In other news, CRO Cedric Pech sold 288 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $198.84, for a total transaction of $57,265.92. Following the completion of the sale, the executive now owns 34,157 shares in the company, valued at $6,791,777.88. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CRO Cedric Pech sold 288 shares of MongoDB stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $198.84, for a total value of $57,265.92. Following the completion of the sale, the executive now directly owns 34,157 shares in the company, valued at $6,791,777.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Thomas Bull sold 502 shares of MongoDB stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $198.84, for a total transaction of $99,817.68. Following the completion of the sale, the insider now owns 16,602 shares of the company’s stock, valued at $3,301,141.68. The disclosure for this sale can be found here. Insiders sold a total of 87,665 shares of company stock worth $19,034,603 over the last quarter. Company insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Toroso Investments LLC raised its position in MongoDB by 7.2% during the third quarter. Toroso Investments LLC now owns 1,481 shares of the company’s stock valued at $295,000 after purchasing an additional 100 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in MongoDB during the third quarter valued at approximately $246,000. California State Teachers Retirement System raised its position in MongoDB by 1.2% during the third quarter. California State Teachers Retirement System now owns 110,497 shares of the company’s stock valued at $21,940,000 after purchasing an additional 1,340 shares in the last quarter. Alpha Paradigm Partners LLC acquired a new position in MongoDB during the third quarter valued at approximately $645,000. Finally, Enlightenment Research LLC acquired a new position in MongoDB during the third quarter valued at approximately $377,000. 89.85% of the stock is currently owned by institutional investors and hedge funds.

MongoDB Company Profile

(Get Rating)

MongoDB, Inc provides general purpose database platform worldwide. The company offers MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.

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