The Goldman Sachs Group Cuts MongoDB (NASDAQ:MDB) Price Target to $335.00

MongoDB (NASDAQ:MDB) had its price target trimmed by The Goldman Sachs Group from $390.00 to $335.00 in a report issued on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

MDB has been the subject of several other reports. Citigroup boosted their price objective on shares of MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a research report on Monday, December 16th. China Renaissance assumed coverage on shares of MongoDB in a research report on Tuesday, January 21st. They issued a “buy” rating and a $351.00 price target for the company. Canaccord Genuity Group lowered their price target on shares of MongoDB from $385.00 to $320.00 and set a “buy” rating for the company in a research report on Thursday. JMP Securities reaffirmed a “market outperform” rating and issued a $380.00 price target on shares of MongoDB in a research report on Wednesday, December 11th. Finally, UBS Group set a $350.00 price target on shares of MongoDB in a research report on Tuesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, MongoDB currently has a consensus rating of “Moderate Buy” and a consensus target price of $322.61.

MongoDB Price Performance

MongoDB stock opened at $192.98 on Thursday. The stock has a market cap of $14.37 billion, a price-to-earnings ratio of -70.43 and a beta of 1.30. MongoDB has a 1 year low of $192.79 and a 1 year high of $413.87. The firm has a 50-day moving average of $262.69 and a two-hundred day moving average of $274.71.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.45). The company had revenue of $548.40 million during the quarter, compared to analysts’ expectations of $519.65 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. During the same period last year, the firm earned $0.86 earnings per share. Research analysts expect that MongoDB will post -1.78 earnings per share for the current year.

Insider Buying and Selling at MongoDB

In other news, Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $270.63, for a total value of $811,890.00. Following the sale, the director now owns 1,109,006 shares in the company, valued at $300,130,293.78. This represents a 0.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Thomas Bull sold 1,000 shares of the 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 owns 15,068 shares in the company, valued at $5,363,002.56. The trade was a 6.22 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,314 shares of company stock worth $13,337,753. 3.60% of the stock is owned by corporate insiders.

Institutional Trading of MongoDB

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. OneDigital Investment Advisors LLC increased its stake in shares of MongoDB by 3.9% in the fourth quarter. OneDigital Investment Advisors LLC now owns 1,044 shares of the company’s stock worth $243,000 after acquiring an additional 39 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of MongoDB by 3.8% in the third quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the company’s stock worth $295,000 after acquiring an additional 40 shares during the period. Hilltop National Bank increased its stake in shares of MongoDB by 47.2% in the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after acquiring an additional 42 shares during the period. Avestar Capital LLC increased its stake in shares of MongoDB by 2.0% in the fourth quarter. Avestar Capital LLC now owns 2,165 shares of the company’s stock worth $504,000 after acquiring an additional 42 shares during the period. Finally, Rakuten Securities Inc. increased its stake in shares of MongoDB by 16.5% in the third quarter. Rakuten Securities Inc. now owns 332 shares of the company’s stock worth $90,000 after acquiring an additional 47 shares during the period. Institutional investors and hedge funds 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.