Citigroup Lowers MongoDB (NASDAQ:MDB) Price Target to $330.00

MongoDB (NASDAQ:MDB) had its target price decreased by Citigroup from $430.00 to $330.00 in a report released on Tuesday,Briefing.com Automated Import reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective suggests a potential upside of 88.14% from the company’s current price.

Several other equities research analysts have also commented on MDB. Wedbush dropped their price target on MongoDB from $360.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Bank of America dropped their target price on shares of MongoDB from $420.00 to $286.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Stifel Nicolaus decreased their price objective on shares of MongoDB from $425.00 to $340.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Morgan Stanley cut their target price on shares of MongoDB from $350.00 to $315.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Finally, China Renaissance started coverage on MongoDB in a report on Tuesday, January 21st. They issued a “buy” rating and a $351.00 price target for the company. Seven research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, MongoDB has a consensus rating of “Moderate Buy” and an average target price of $316.53.

MongoDB Stock Performance

MDB stock opened at $175.40 on Tuesday. The company has a 50 day moving average price of $244.01 and a two-hundred day moving average price of $265.11. The stock has a market capitalization of $14.24 billion, a P/E ratio of -64.01 and a beta of 1.30. MongoDB has a one year low of $170.85 and a one year high of $387.19.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data 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 net margin of 10.46% and a negative return on equity of 12.22%. The business had revenue of $548.40 million during the quarter, compared to analysts’ expectations of $519.65 million. During the same period in the prior year, the firm earned $0.86 EPS. Research analysts forecast that MongoDB will post -1.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $270.63, for a total transaction of $811,890.00. Following the completion of the sale, the director now owns 1,109,006 shares in the company, valued at approximately $300,130,293.78. This represents a 0.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Thomas Bull sold 169 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value of $39,561.21. Following the sale, the chief accounting officer now directly owns 14,899 shares in the company, valued at $3,487,706.91. This trade represents a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,139 shares of company stock valued at $11,328,869 in the last three months. 3.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MongoDB

Institutional investors have recently bought and sold shares of the stock. Strategic Investment Solutions Inc. IL acquired a new position in shares of MongoDB in the fourth quarter worth about $29,000. Hilltop National Bank boosted its stake in MongoDB by 47.2% in the 4th quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after purchasing an additional 42 shares during the period. NCP Inc. acquired a new stake in MongoDB during the 4th quarter valued at $35,000. Continuum Advisory LLC lifted its holdings in shares of MongoDB by 621.1% in the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after purchasing an additional 118 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in shares of MongoDB by 1,100.0% in the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock worth $42,000 after buying an additional 165 shares during the period. Hedge funds and other 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.