Morgan Stanley Cuts MongoDB (NASDAQ:MDB) Price Target to $235.00

MongoDB (NASDAQ:MDB) had its price objective lowered by Morgan Stanley from $315.00 to $235.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 47.56% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Mizuho lowered their target price on shares of MongoDB from $250.00 to $190.00 and set a “neutral” rating for the company in a research note on Tuesday. KeyCorp lowered MongoDB from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Truist Financial cut their target price on MongoDB from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Oppenheimer lowered their target price on MongoDB from $400.00 to $330.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Finally, Royal Bank of Canada dropped their price target on MongoDB from $400.00 to $320.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Eight analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $299.78.

MongoDB Trading Down 0.5 %

Shares of MDB opened at $159.26 on Wednesday. The stock’s 50-day moving average price is $210.69 and its two-hundred day moving average price is $253.11. MongoDB has a 12 month low of $140.78 and a 12 month high of $387.19. The company has a market capitalization of $12.93 billion, a PE ratio of -58.12 and a beta of 1.49.

MongoDB (NASDAQ:MDB) last posted 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). The company had revenue of $548.40 million during 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 prior year, the firm earned $0.86 earnings per share. Equities research analysts predict that MongoDB will post -1.78 EPS for the current fiscal year.

Insider Buying and Selling

In other MongoDB news, CEO Dev Ittycheria sold 18,512 shares of the business’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total value of $3,207,389.12. Following the transaction, the chief executive officer now owns 268,948 shares of the company’s stock, valued at approximately $46,597,930.48. The trade was a 6.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Thomas Bull sold 301 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $173.25, for a total value of $52,148.25. Following the completion of the transaction, the chief accounting officer now owns 14,598 shares of the company’s stock, valued at $2,529,103.50. This trade represents a 2.02 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,680 shares of company stock worth $11,084,027. 3.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MDB. Norges Bank bought a new stake in shares of MongoDB in the 4th quarter worth approximately $189,584,000. Marshall Wace LLP purchased a new stake in MongoDB in the fourth quarter worth $110,356,000. Raymond James Financial Inc. bought a new stake in shares of MongoDB in the fourth quarter valued at $90,478,000. D1 Capital Partners L.P. purchased a new position in shares of MongoDB during the 4th quarter valued at $76,129,000. Finally, Amundi lifted its position in shares of MongoDB by 86.2% during the 4th quarter. Amundi now owns 693,740 shares of the company’s stock valued at $172,519,000 after buying an additional 321,186 shares during the last quarter. 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.