Stifel Nicolaus Cuts MongoDB (NASDAQ:MDB) Price Target to $340.00

MongoDB (NASDAQ:MDB) had its target price cut by research analysts at Stifel Nicolaus from $425.00 to $340.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price indicates a potential upside of 65.75% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Mizuho increased their price target on shares of MongoDB from $275.00 to $320.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Canaccord Genuity Group lowered their target price on shares of MongoDB from $385.00 to $320.00 and set a “buy” rating on the stock in a research report on Thursday. Morgan Stanley lowered their price objective on shares of MongoDB from $350.00 to $315.00 and set an “overweight” rating on the stock in a research note on Thursday. Cantor Fitzgerald began coverage on MongoDB in a research note on Wednesday. They set an “overweight” rating and a $344.00 price objective on the stock. Finally, DA Davidson boosted their price objective on shares of MongoDB from $340.00 to $405.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat.com, MongoDB currently has a consensus rating of “Moderate Buy” and a consensus price target of $325.52.

MongoDB Price Performance

Shares of MongoDB stock traded down $59.00 during trading on Thursday, hitting $205.13. 5,774,420 shares of the stock were exchanged, compared to its average volume of 1,622,534. The firm’s 50-day moving average price is $263.70 and its 200 day moving average price is $275.28. The stock has a market cap of $15.28 billion, a price-to-earnings ratio of -74.97 and a beta of 1.30. MongoDB has a 12-month low of $200.36 and a 12-month high of $424.00.

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

Insider Activity at MongoDB

In other news, Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 1,109,006 shares of the company’s stock, valued at approximately $300,130,293.78. This represents a 0.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Thomas Bull sold 1,000 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $355.92, for a total value of $355,920.00. Following the sale, the chief accounting officer now owns 15,068 shares in the company, valued at approximately $5,363,002.56. This trade represents a 6.22 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,314 shares of company stock worth $13,337,753. 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. OneDigital Investment Advisors LLC raised its stake in MongoDB by 3.9% during the 4th quarter. OneDigital Investment Advisors LLC now owns 1,044 shares of the company’s stock valued at $243,000 after purchasing an additional 39 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of MongoDB by 3.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the company’s stock worth $295,000 after purchasing an additional 40 shares in the last quarter. Hilltop National Bank lifted its position in shares of MongoDB by 47.2% during the 4th quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after buying an additional 42 shares during the period. Avestar Capital LLC grew its holdings in shares of MongoDB by 2.0% during the fourth quarter. Avestar Capital LLC now owns 2,165 shares of the company’s stock worth $504,000 after purchasing an additional 42 shares during the last quarter. Finally, Rakuten Securities Inc. boosted its stake in shares of MongoDB by 16.5% in the 3rd quarter. Rakuten Securities Inc. now owns 332 shares of the company’s stock valued at $90,000 after purchasing an additional 47 shares during the last quarter. 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.