MongoDB (NASDAQ:MDB) Price Target Lowered to $275.00 at Scotiabank

MongoDB (NASDAQ:MDB) had its target price cut by equities research analysts at Scotiabank from $350.00 to $275.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price objective suggests a potential upside of 5.62% from the stock’s current price.

Several other research firms have also weighed in on MDB. Macquarie assumed coverage on MongoDB in a research note on Thursday, December 12th. They issued a “neutral” rating and a $300.00 price objective on the stock. Wedbush raised MongoDB to a “strong-buy” rating in a research report on Thursday, October 17th. KeyCorp raised their target price on MongoDB from $330.00 to $375.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Truist Financial reaffirmed a “buy” rating and issued a $400.00 price objective (up previously from $320.00) on shares of MongoDB in a research report on Tuesday, December 10th. Finally, Monness Crespi & Hardt cut shares of MongoDB from a “neutral” rating to a “sell” rating and set a $220.00 target price on the stock. in a research report on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, MongoDB currently has an average rating of “Moderate Buy” and an average price target of $361.00.

MongoDB Price Performance

MDB traded up $7.25 during midday trading on Tuesday, reaching $260.36. 1,137,871 shares of the company’s stock were exchanged, compared to its average volume of 1,460,747. The business’s 50-day moving average price is $277.47 and its 200 day moving average price is $269.11. The stock has a market capitalization of $19.39 billion, a PE ratio of -95.09 and a beta of 1.25. MongoDB has a 1-year low of $212.74 and a 1-year high of $509.62.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Monday, December 9th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.48. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The firm had revenue of $529.40 million during the quarter, compared to analysts’ expectations of $497.39 million. During the same quarter last year, the business posted $0.96 EPS. The firm’s quarterly revenue was up 22.3% compared to the same quarter last year. As a group, analysts expect that MongoDB will post -1.79 EPS for the current fiscal year.

Insider Activity at MongoDB

In other MongoDB news, insider Cedric Pech sold 287 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value of $67,183.83. Following the sale, the insider now owns 24,390 shares in the company, valued at $5,709,455.10. This represents a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael Lawrence Gordon sold 5,000 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $267.85, for a total value of $1,339,250.00. Following the completion of the transaction, the chief financial officer now directly owns 80,307 shares of the company’s stock, valued at approximately $21,510,229.95. This trade represents a 5.86 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,821 shares of company stock valued at $6,831,215. 3.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MongoDB

Several institutional investors and hedge funds have recently made changes to their positions in the business. Hilltop National Bank raised its holdings in shares of MongoDB by 47.2% in the 4th quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after acquiring an additional 42 shares during the last quarter. Quarry LP raised its stake in shares of MongoDB by 2,580.0% in the second quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after purchasing an additional 129 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of MongoDB in the third quarter valued at approximately $36,000. GAMMA Investing LLC boosted its position in shares of MongoDB by 178.8% during the third quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock valued at $39,000 after buying an additional 93 shares during the last quarter. Finally, Continuum Advisory LLC boosted its position in shares of MongoDB by 621.1% during the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after buying an additional 118 shares during the last quarter. Institutional investors 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.