Bank of America Lowers MongoDB (NASDAQ:MDB) Price Target to $286.00

MongoDB (NASDAQ:MDB) had its price target decreased by Bank of America from $420.00 to $286.00 in a report published on Thursday,Benzinga reports. Bank of America currently has a buy rating on the stock.

A number of other research analysts have also recently commented on MDB. Robert W. Baird decreased their price target on MongoDB from $390.00 to $300.00 and set an “outperform” rating on the stock in a research report on Thursday. Tigress Financial raised their price objective on MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Royal Bank of Canada raised their price objective on MongoDB from $350.00 to $400.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Piper Sandler reaffirmed an “overweight” rating and issued a $425.00 price objective on shares of MongoDB in a research note on Tuesday, December 10th. Finally, Loop Capital reduced their price objective on MongoDB from $400.00 to $350.00 and set a “buy” rating on the stock in a research note on Monday. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat.com, MongoDB has a consensus rating of “Moderate Buy” and a consensus price target of $322.61.

MongoDB Stock Performance

Shares of NASDAQ MDB opened at $192.98 on Thursday. MongoDB has a 52 week low of $192.79 and a 52 week high of $413.87. The stock has a market capitalization of $14.37 billion, a P/E ratio of -70.43 and a beta of 1.30. The stock’s fifty day moving average is $262.69 and its 200 day moving average is $274.71.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company had revenue of $548.40 million during the quarter, compared to the consensus estimate of $519.65 million. During the same quarter in the previous year, the business posted $0.86 EPS. Equities research analysts forecast that MongoDB will post -1.78 earnings per share for the current year.

Insiders Place Their Bets

In other MongoDB news, insider Cedric Pech sold 287 shares of MongoDB stock in a transaction that occurred on Thursday, January 2nd. The stock was 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 in the company, valued at approximately $5,709,455.10. The trade was a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Thomas Bull sold 1,000 shares of MongoDB stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $355.92, for a total value of $355,920.00. Following the completion of the sale, the chief accounting officer now owns 15,068 shares of the company’s stock, valued at approximately $5,363,002.56. The trade was a 6.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,314 shares of company stock worth $13,337,753. 3.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MongoDB

A number of hedge funds have recently added to or reduced their stakes in MDB. Strategic Investment Solutions Inc. IL bought a new stake in MongoDB in the fourth quarter worth approximately $29,000. Hilltop National Bank increased its holdings in shares of MongoDB by 47.2% during the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock valued at $30,000 after acquiring an additional 42 shares in the last quarter. NCP Inc. bought a new stake in shares of MongoDB during the fourth quarter valued at approximately $35,000. Brooklyn Investment Group bought a new stake in shares of MongoDB during the third quarter valued at approximately $36,000. Finally, Continuum Advisory LLC increased its holdings in shares of MongoDB by 621.1% during the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after acquiring an additional 118 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors.

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.