MongoDB (NASDAQ:MDB) Hits New 1-Year Low Following Analyst Downgrade

MongoDB, Inc. (NASDAQ:MDB)’s share price reached a new 52-week low on Monday after Truist Financial lowered their price target on the stock from $300.00 to $275.00. Truist Financial currently has a buy rating on the stock. MongoDB traded as low as $171.21 and last traded at $174.84, with a volume of 155238 shares changing hands. The stock had previously closed at $178.03.

Several other equities analysts also recently commented on the stock. Monness Crespi & Hardt upgraded shares of MongoDB from a “sell” rating to a “neutral” rating in a research note on Monday, March 3rd. UBS Group set a $350.00 target price on shares of MongoDB in a report on Tuesday, March 4th. Cantor Fitzgerald assumed coverage on MongoDB in a research note on Wednesday, March 5th. They issued an “overweight” rating and a $344.00 price target for the company. Wedbush reduced their price target on MongoDB from $360.00 to $300.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Finally, Citigroup reiterated a “buy” rating on shares of MongoDB in a research report on Thursday, March 6th. Seven analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $319.87.

Insider Activity

In related news, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $270.63, for a total value of $811,890.00. Following the transaction, the director now directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cedric Pech sold 287 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total transaction of $67,183.83. Following the sale, the insider now directly owns 24,390 shares of the company’s stock, valued at $5,709,455.10. This represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,139 shares of company stock valued at $11,328,869. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

Several hedge funds and other institutional investors have recently bought and sold shares of MDB. B.O.S.S. Retirement Advisors LLC acquired a new position in shares of MongoDB in the 4th quarter valued at about $606,000. Geode Capital Management LLC increased its holdings in MongoDB by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock worth $331,776,000 after purchasing an additional 34,814 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in MongoDB in the fourth quarter valued at approximately $3,515,000. Nisa Investment Advisors LLC boosted its holdings in shares of MongoDB by 428.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,755 shares of the company’s stock worth $1,340,000 after buying an additional 4,665 shares in the last quarter. Finally, HighTower Advisors LLC increased its stake in shares of MongoDB by 2.0% in the 4th quarter. HighTower Advisors LLC now owns 18,773 shares of the company’s stock valued at $4,371,000 after acquiring an additional 372 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

MongoDB Trading Down 2.5 %

The company has a market cap of $14.09 billion, a price-to-earnings ratio of -63.42 and a beta of 1.30. The stock’s 50-day moving average is $245.56 and its 200-day moving average is $265.95.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data 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 company had revenue of $548.40 million for the quarter, compared to analyst estimates of $519.65 million. During the same quarter in the prior year, the company posted $0.86 EPS. As a group, analysts predict that MongoDB, Inc. will post -1.78 EPS for the current year.

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.