MongoDB (NASDAQ:MDB) Price Target Lowered to $470.00 at Bank of America

MongoDB (NASDAQ:MDBFree Report) had its target price trimmed by Bank of America from $500.00 to $470.00 in a report published on Friday, Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also issued research reports about the stock. Needham & Company LLC reissued a buy rating and set a $465.00 target price on shares of MongoDB in a research report on Friday, May 3rd. DA Davidson raised shares of MongoDB from a neutral rating to a buy rating and upped their price objective for the company from $405.00 to $430.00 in a research report on Friday, March 8th. Guggenheim raised their price objective on MongoDB from $250.00 to $272.00 and gave the stock a sell rating in a research report on Monday, March 4th. Loop Capital began coverage on shares of MongoDB in a research note on Tuesday, April 23rd. They issued a buy rating and a $415.00 target price on the stock. Finally, JMP Securities reaffirmed a market outperform rating and issued a $440.00 target price on shares of MongoDB in a report on Monday, January 22nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, MongoDB has a consensus rating of Moderate Buy and an average price target of $444.57.

Check Out Our Latest Report on MongoDB

MongoDB Price Performance

Shares of MDB opened at $368.01 on Friday. The business’s 50-day moving average is $358.37 and its 200-day moving average is $392.75. MongoDB has a fifty-two week low of $267.68 and a fifty-two week high of $509.62. The company has a market capitalization of $26.80 billion, a price-to-earnings ratio of -148.39 and a beta of 1.19. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.40 and a quick ratio of 4.40.

MongoDB (NASDAQ:MDBGet Free Report) last announced its quarterly earnings results on Thursday, March 7th. The company reported ($1.03) EPS for the quarter, missing the consensus estimate of ($0.71) by ($0.32). The firm had revenue of $458.00 million during the quarter, compared to the consensus estimate of $431.99 million. MongoDB had a negative net margin of 10.49% and a negative return on equity of 16.22%. Equities research analysts expect that MongoDB will post -2.53 EPS for the current fiscal year.

Insider Activity at MongoDB

In other MongoDB news, CEO Dev Ittycheria sold 17,160 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $348.11, for a total transaction of $5,973,567.60. Following the completion of the transaction, the chief executive officer now owns 226,073 shares in the company, valued at approximately $78,698,272.03. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Dwight A. Merriman sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $363.01, for a total transaction of $363,010.00. Following the completion of the sale, the director now owns 523,896 shares in the company, valued at $190,179,486.96. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Dev Ittycheria sold 17,160 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $348.11, for a total transaction of $5,973,567.60. Following the completion of the transaction, the chief executive officer now directly owns 226,073 shares in the company, valued at $78,698,272.03. The disclosure for this sale can be found here. Insiders sold 46,802 shares of company stock worth $16,514,071 over the last three months. Company insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

Institutional investors have recently modified their holdings of the business. Transcendent Capital Group LLC bought a new position in MongoDB during the fourth quarter valued at about $25,000. Blue Trust Inc. grew its holdings in MongoDB by 937.5% during the fourth quarter. Blue Trust Inc. now owns 83 shares of the company’s stock valued at $34,000 after purchasing an additional 75 shares during the period. AM Squared Ltd purchased a new stake in MongoDB in the third quarter worth $35,000. Cullen Frost Bankers Inc. purchased a new position in shares of MongoDB during the 3rd quarter valued at $35,000. Finally, Beacon Capital Management LLC grew its stake in shares of MongoDB by 1,111.1% during the 4th quarter. Beacon Capital Management LLC now owns 109 shares of the company’s stock worth $45,000 after acquiring an additional 100 shares during the period. 89.29% of the stock is owned by institutional investors.

MongoDB Company Profile

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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.

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