By otakuyassine3@gmail.com 
MongoDB (NASDAQ:MDB – Free Report) had its price objective lowered by The Goldman Sachs Group from $390.00 to $335.00 in a report released on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.
A number of other analysts have also recently weighed in on MDB. Scotiabank restated a “sector perform” rating and set a $240.00 target price (down from $275.00) on shares of MongoDB in a report on Wednesday. KeyCorp raised their target price on shares of MongoDB from $330.00 to $375.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Citigroup raised their target price on shares of MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Cantor Fitzgerald initiated coverage on shares of MongoDB in a report on Wednesday. They set an “overweight” rating and a $344.00 target price for the company. Finally, Canaccord Genuity Group reduced their target price on shares of MongoDB from $385.00 to $320.00 and set a “buy” rating for the company in a report on Thursday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $319.87.
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MongoDB Price Performance
MongoDB stock opened at $187.65 on Thursday. The firm has a 50 day simple moving average of $261.68 and a 200-day simple moving average of $274.38. The stock has a market capitalization of $13.97 billion, a PE ratio of -68.49 and a beta of 1.30. MongoDB has a 12-month low of $181.05 and a 12-month high of $387.19.
MongoDB (NASDAQ:MDB – Get Free Report) last posted its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.45). The company had revenue of $548.40 million during the quarter, compared to the consensus estimate of $519.65 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. During the same quarter last year, the business earned $0.86 earnings per share. On average, analysts forecast that MongoDB will post -1.78 earnings per share for the current fiscal year.
Insider Activity
In related news, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $270.63, for a total value of $811,890.00. Following the transaction, the director now owns 1,109,006 shares in the company, valued at $300,130,293.78. This trade represents a 0.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Dev Ittycheria sold 8,335 shares of MongoDB stock in a transaction on Friday, January 17th. The stock was sold at an average price of $254.86, for a total transaction of $2,124,258.10. Following the completion of the transaction, the chief executive officer now owns 217,294 shares in the company, valued at $55,379,548.84. This trade represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,314 shares of company stock worth $13,337,753. 3.60% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the company. OneDigital Investment Advisors LLC grew its position in MongoDB by 3.9% in the 4th quarter. OneDigital Investment Advisors LLC now owns 1,044 shares of the company’s stock worth $243,000 after purchasing an additional 39 shares during the last quarter. Nisa Investment Advisors LLC grew its position in MongoDB by 3.8% in 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 during the last quarter. Hilltop National Bank grew its position in MongoDB by 47.2% in the 4th quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after purchasing an additional 42 shares during the last quarter. Avestar Capital LLC grew its position in MongoDB by 2.0% in the 4th 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. grew its position in MongoDB by 16.5% in the 3rd quarter. Rakuten Securities Inc. now owns 332 shares of the company’s stock worth $90,000 after purchasing an additional 47 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.
Further Reading
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