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

MongoDB (NASDAQ:MDB) had its price objective dropped by analysts at Citigroup from $430.00 to $330.00 in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. The firm presently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 88.14% from the stock’s previous close.

A number of other brokerages also recently commented on MDB. Royal Bank of Canada lowered their target price on shares of MongoDB from $400.00 to $320.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. JMP Securities reiterated a “market outperform” rating and issued a $380.00 price objective on shares of MongoDB in a report on Wednesday, December 11th. Mizuho boosted their target price on MongoDB from $275.00 to $320.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Bank of America dropped their price target on shares of MongoDB from $420.00 to $286.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Finally, Cantor Fitzgerald began coverage on shares of MongoDB in a research report on Wednesday, March 5th. They set an “overweight” rating and a $344.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat.com, MongoDB presently has an average rating of “Moderate Buy” and a consensus target price of $316.53.

MongoDB Price Performance

MDB stock opened at $175.40 on Tuesday. The business’s 50-day moving average is $244.01 and its two-hundred day moving average is $265.11. The firm has a market capitalization of $14.24 billion, a P/E ratio of -64.01 and a beta of 1.30. MongoDB has a 1 year low of $170.85 and a 1 year high of $387.19.

MongoDB (NASDAQ:MDB) last issued its earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $548.40 million during the quarter, compared to analyst estimates of $519.65 million. During the same period last year, the business earned $0.86 EPS. On average, analysts expect that MongoDB will post -1.78 EPS for the current year.

Insider Buying and Selling at MongoDB

In other news, Director Dwight A. Merriman sold 3,000 shares of the business’s 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 sale, the director now owns 1,109,006 shares of the company’s stock, valued at $300,130,293.78. The trade was a 0.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dev Ittycheria sold 8,335 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $279.99, for a total value of $2,333,716.65. Following the completion of the sale, the chief executive officer now owns 217,294 shares in the company, valued at approximately $60,840,147.06. This represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,139 shares of company stock valued at $11,328,869. 3.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On MongoDB

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in MongoDB by 0.3% during 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 during the last quarter. Franklin Resources Inc. increased its stake in shares of MongoDB by 9.7% during the 4th quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company’s stock worth $478,398,000 after purchasing an additional 181,962 shares in the last quarter. Geode Capital Management LLC raised its position in shares of MongoDB by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 1,252,142 shares of the company’s stock worth $290,987,000 after purchasing an additional 22,106 shares during the last quarter. First Trust Advisors LP lifted its stake in MongoDB by 12.6% in the 4th quarter. First Trust Advisors LP now owns 854,906 shares of the company’s stock valued at $199,031,000 after buying an additional 95,893 shares in the last quarter. Finally, Norges Bank acquired a new stake in MongoDB during the 4th quarter valued at $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.