MongoDB (NASDAQ:MDB) Price Target Cut to $330.00 by Analysts at Barclays

MongoDB (NASDAQ:MDB) had its price objective decreased by Barclays from $400.00 to $330.00 in a report released on Friday,Benzinga reports. Barclays currently has an overweight rating on the stock.

MDB has been the topic of a number of other research reports. Canaccord Genuity Group lifted their price target on MongoDB from $325.00 to $385.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Citigroup boosted their target price on shares of MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Guggenheim raised shares of MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 price target for the company in a report on Monday, January 6th. Stifel Nicolaus upped their price objective on shares of MongoDB from $325.00 to $360.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Wedbush upgraded shares of MongoDB to a “strong-buy” rating in a research note on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $364.64.

MongoDB Stock Down 1.4 %

Shares of MDB stock opened at $245.22 on Friday. The business’s 50 day moving average is $281.86 and its two-hundred day moving average is $269.09. MongoDB has a 12 month low of $212.74 and a 12 month high of $509.62. The company has a market cap of $18.26 billion, a PE ratio of -89.50 and a beta of 1.25.

MongoDB (NASDAQ:MDB) last announced its earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $529.40 million for the quarter, compared to the consensus estimate of $497.39 million. During the same quarter last year, the firm posted $0.96 EPS. The business’s quarterly revenue was up 22.3% on a year-over-year basis. As a group, equities analysts expect that MongoDB will post -1.86 EPS for the current fiscal year.

Insider Activity

In other MongoDB news, CEO Dev Ittycheria sold 2,581 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $604,186.29. Following the transaction, the chief executive officer now owns 217,294 shares in the company, valued at approximately $50,866,352.46. This trade represents a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Cedric Pech sold 287 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total value of $67,183.83. Following the completion of the sale, the insider now directly owns 24,390 shares of the company’s stock, valued at approximately $5,709,455.10. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,161 shares of company stock valued at $8,427,806. 3.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MDB. Hilltop National Bank grew its holdings 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. Wealth Enhancement Advisory Services LLC grew its stake in MongoDB by 0.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,399 shares of the company’s stock valued at $5,215,000 after acquiring an additional 110 shares during the period. First Hawaiian Bank increased its holdings in shares of MongoDB by 18.3% in the fourth quarter. First Hawaiian Bank now owns 1,571 shares of the company’s stock worth $366,000 after acquiring an additional 243 shares in the last quarter. Diversified Trust Co raised its position in shares of MongoDB by 31.0% during the fourth quarter. Diversified Trust Co now owns 6,919 shares of the company’s stock worth $1,611,000 after purchasing an additional 1,639 shares during the period. Finally, Everence Capital Management Inc. bought a new position in shares of MongoDB during the 4th quarter valued at about $624,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

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.