MongoDB (NASDAQ:MDB) Price Target Cut to $275.00 by Analysts at Scotiabank

MongoDB (NASDAQ:MDB) had its price target reduced by analysts at Scotiabank from $350.00 to $275.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price objective would suggest a potential upside of 5.62% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. KeyCorp raised their price objective on shares of MongoDB from $330.00 to $375.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Rosenblatt Securities initiated coverage on MongoDB in a report on Tuesday, December 17th. They issued a “buy” rating and a $350.00 price objective for the company. Mizuho boosted their target price on MongoDB from $275.00 to $320.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Citigroup lifted their price target on shares of MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Finally, Loop Capital lifted their target price on shares of MongoDB from $315.00 to $400.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, MongoDB currently has an average rating of “Moderate Buy” and a consensus target price of $361.00.

MongoDB Price Performance

NASDAQ:MDB traded up $7.25 on Tuesday, reaching $260.36. 1,137,871 shares of the company’s stock were exchanged, compared to its average volume of 1,460,747. MongoDB has a 52 week low of $212.74 and a 52 week high of $509.62. The firm has a market cap of $19.39 billion, a price-to-earnings ratio of -95.09 and a beta of 1.25. The stock has a fifty day simple moving average of $277.47 and a 200-day simple moving average of $269.11.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Monday, December 9th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.48. The company had revenue of $529.40 million during the quarter, compared to analyst estimates 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 was up 22.3% compared to the same quarter last year. During the same period last year, the business earned $0.96 earnings per share. As a group, sell-side analysts predict that MongoDB will post -1.79 EPS for the current year.

Insider Activity at MongoDB

In other MongoDB news, insider Cedric Pech sold 287 shares of the business’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 $67,183.83. Following the completion of the sale, the insider now owns 24,390 shares of the company’s stock, valued at approximately $5,709,455.10. The trade was a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Thomas Bull sold 169 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $39,561.21. Following the completion of the sale, the chief accounting officer now directly owns 14,899 shares of the company’s stock, valued at $3,487,706.91. This represents a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,821 shares of company stock valued at $6,831,215 over the last 90 days. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Aigen Investment Management LP purchased a new position in MongoDB during the third quarter worth $1,045,000. Geode Capital Management LLC increased its position in MongoDB by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock valued at $331,776,000 after purchasing an additional 34,814 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in MongoDB in the third quarter valued at about $4,366,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of MongoDB by 2.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 278,419 shares of the company’s stock valued at $75,271,000 after purchasing an additional 7,575 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in MongoDB during the 2nd quarter worth $1,860,000. 89.29% of the stock is owned by hedge funds and other institutional investors.

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.