MongoDB (NASDAQ:MDB) Price Target Lowered to $300.00 at Robert W. Baird

MongoDB (NASDAQ:MDB) had its target price dropped by analysts at Robert W. Baird from $390.00 to $300.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price objective would indicate a potential upside of 13.58% from the stock’s current price.

A number of other research firms have also commented on MDB. Wells Fargo & Company lowered shares of MongoDB from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $365.00 to $225.00 in a research report on Thursday. Rosenblatt Securities reaffirmed a “buy” rating and issued a $350.00 price target on shares of MongoDB in a report on Tuesday. KeyCorp lifted their price objective on MongoDB from $330.00 to $375.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Truist Financial restated a “buy” rating and set a $400.00 target price (up from $320.00) on shares of MongoDB in a research report on Tuesday, December 10th. Finally, DA Davidson raised their price target on MongoDB from $340.00 to $405.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $345.17.

MongoDB Stock Up 3.8 %

Shares of NASDAQ:MDB opened at $264.13 on Thursday. The firm has a market capitalization of $19.67 billion, a PE ratio of -96.40 and a beta of 1.30. The company has a 50-day moving average price of $263.70 and a two-hundred day moving average price of $275.28. MongoDB has a twelve month low of $212.74 and a twelve month high of $424.00.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Monday, December 9th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.68 by $0.48. The company had revenue of $529.40 million during the quarter, compared to the consensus estimate of $497.39 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. MongoDB’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same period last year, the firm earned $0.96 EPS. Analysts anticipate that MongoDB will post -1.78 earnings per share for the current fiscal year.

Insider Activity at MongoDB

In other news, CAO Thomas Bull sold 1,000 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $355.92, for a total transaction of $355,920.00. Following the transaction, the chief accounting officer now directly owns 15,068 shares of the company’s stock, valued at $5,363,002.56. This represents a 6.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $270.63, for a total value of $811,890.00. Following the completion of the sale, the director now owns 1,109,006 shares of the company’s stock, valued at $300,130,293.78. The trade was a 0.27 % 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. Company insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

Several large investors have recently modified their holdings of MDB. Vanguard Group Inc. boosted its position in MongoDB by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 7,328,745 shares of the company’s stock worth $1,706,205,000 after purchasing an additional 23,942 shares during the last quarter. Jennison Associates LLC grew its position in MongoDB by 23.6% during the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock valued at $838,632,000 after buying an additional 592,038 shares during the period. Franklin Resources Inc. grew its position in MongoDB by 9.7% during the fourth quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company’s stock valued at $478,398,000 after buying an additional 181,962 shares during the period. Geode Capital Management LLC increased its holdings in MongoDB by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 1,252,142 shares of the company’s stock valued at $290,987,000 after buying an additional 22,106 shares during the last quarter. Finally, First Trust Advisors LP raised its position in MongoDB by 12.6% in the fourth quarter. First Trust Advisors LP now owns 854,906 shares of the company’s stock worth $199,031,000 after acquiring an additional 95,893 shares during the period. Institutional investors 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.