Truist Financial Cuts MongoDB (NASDAQ:MDB) Price Target to $275.00

MongoDB (NASDAQ:MDB) had its target price decreased by Truist Financial from $300.00 to $275.00 in a research report report published on Monday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other brokerages have also recently issued reports on MDB. DA Davidson boosted their price objective on MongoDB from $340.00 to $405.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Citigroup reaffirmed a “buy” rating on shares of MongoDB in a research note on Thursday, March 6th. Royal Bank of Canada decreased their target price on shares of MongoDB from $400.00 to $320.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Cantor Fitzgerald assumed coverage on shares of MongoDB in a research note on Wednesday, March 5th. They issued an “overweight” rating and a $344.00 price target for the company. Finally, Wedbush cut their target price on shares of MongoDB from $360.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Seven research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $312.84.

MongoDB Trading Up 2.0 %

NASDAQ:MDB opened at $180.19 on Monday. The company has a market cap of $14.63 billion, a price-to-earnings ratio of -65.76 and a beta of 1.30. MongoDB has a twelve month low of $170.66 and a twelve month high of $387.19. The stock has a fifty day simple moving average of $240.77 and a 200-day simple moving average of $263.72.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing the consensus estimate 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 period in the previous year, the firm posted $0.86 earnings per share. As a group, equities research analysts predict that MongoDB will post -1.78 EPS for the current fiscal year.

Insider Activity at MongoDB

In related news, Director Dwight A. Merriman sold 885 shares of MongoDB stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $292.05, for a total transaction of $258,464.25. Following the completion of the sale, the director now owns 83,845 shares in the company, valued at approximately $24,486,932.25. This trade represents a 1.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Dev Ittycheria sold 8,335 shares of MongoDB stock in a transaction on Friday, January 17th. The shares were sold at an average price of $254.86, for a total value of $2,124,258.10. Following the completion of the sale, the chief executive officer now directly owns 217,294 shares of the company’s stock, valued at approximately $55,379,548.84. This represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,857 shares of company stock worth $9,613,306 over the last 90 days. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

Several institutional investors have recently bought and sold shares of MDB. Vanguard Group Inc. lifted its stake in shares of MongoDB by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 7,328,745 shares of the company’s stock worth $1,706,205,000 after acquiring an additional 23,942 shares in the last quarter. Franklin Resources Inc. boosted its stake in MongoDB by 9.7% during the 4th quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company’s stock valued at $478,398,000 after purchasing an additional 181,962 shares during the period. Geode Capital Management LLC increased its position in MongoDB by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 1,252,142 shares of the company’s stock valued at $290,987,000 after acquiring an additional 22,106 shares during the period. First Trust Advisors LP lifted its holdings in MongoDB by 12.6% in the fourth quarter. First Trust Advisors LP now owns 854,906 shares of the company’s stock worth $199,031,000 after purchasing an additional 95,893 shares during the period. Finally, Norges Bank acquired a new position in shares of MongoDB during the fourth quarter valued at approximately $189,584,000. 89.29% of the stock is currently 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.