Barclays Cuts MongoDB (NASDAQ:MDB) Price Target to $330.00

MongoDB (NASDAQ:MDB) had its price objective decreased by Barclays from $400.00 to $330.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 35.33% from the stock’s previous close.

A number of other research firms also recently weighed in on MDB. Oppenheimer increased their target price on shares of MongoDB from $350.00 to $400.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Truist Financial reiterated a “buy” rating and issued a $400.00 price objective (up previously from $320.00) on shares of MongoDB in a research note on Tuesday, December 10th. Tigress Financial raised their target price on MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Loop Capital upped their price target on MongoDB from $315.00 to $400.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Finally, DA Davidson lifted their price objective on MongoDB from $340.00 to $405.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, MongoDB presently has a consensus rating of “Moderate Buy” and a consensus price target of $364.64.

MongoDB Trading Down 1.9 %

Shares of MDB traded down $4.83 on Friday, reaching $243.85. 619,270 shares of the company’s stock traded hands, compared to its average volume of 1,512,057. The stock’s 50 day simple moving average is $282.39 and its two-hundred day simple moving average is $269.01. MongoDB has a 52-week low of $212.74 and a 52-week high of $509.62. The stock has a market cap of $18.16 billion, a PE ratio of -89.00 and a beta of 1.25.

MongoDB (NASDAQ:MDB) last announced its earnings results on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.48. The firm had revenue of $529.40 million during the quarter, compared to analyst estimates of $497.39 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The business’s revenue was up 22.3% compared to the same quarter last year. During the same period last year, the firm posted $0.96 EPS. Analysts forecast that MongoDB will post -1.86 earnings per share for the current year.

Insider Activity at MongoDB

In related news, Director Dwight A. Merriman sold 2,000 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $349.17, for a total transaction of $698,340.00. Following the transaction, the director now owns 1,124,006 shares of the company’s stock, valued at approximately $392,469,175.02. This trade represents a 0.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Thomas Bull sold 1,000 shares of the business’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 completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 30,161 shares of company stock valued at $8,427,806 over the last 90 days. 3.60% of the stock is owned by insiders.

Institutional Investors Weigh In On MongoDB

Hedge funds and other institutional investors have recently modified their holdings of the stock. Private Advisor Group LLC grew its holdings in MongoDB by 167.4% in the 2nd quarter. Private Advisor Group LLC now owns 6,324 shares of the company’s stock worth $1,581,000 after acquiring an additional 3,959 shares during the last quarter. Acadian Asset Management LLC increased its holdings in MongoDB by 1,677.3% during the 2nd quarter. Acadian Asset Management LLC now owns 3,679 shares of the company’s stock valued at $916,000 after purchasing an additional 3,472 shares during the period. Quest Partners LLC bought a new position in MongoDB during the 2nd quarter valued at approximately $160,000. Choreo LLC increased its stake in shares of MongoDB by 187.1% during the second quarter. Choreo LLC now owns 2,291 shares of the company’s stock valued at $603,000 after buying an additional 1,493 shares during the period. Finally, Daiwa Securities Group Inc. raised its holdings in MongoDB by 6.5% in the 2nd quarter. Daiwa Securities Group Inc. now owns 9,191 shares of the company’s stock worth $2,297,000 after purchasing an additional 563 shares in the last quarter. Institutional investors own 89.29% of the company’s stock.

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.