Credit Suisse Group Lowers MongoDB (NASDAQ:MDB) Price Target to $500.00

Posted by on Jun 2nd, 2022

MongoDB (NASDAQ:MDB – Get Rating) had its price objective decreased by Credit Suisse Group from $650.00 to $500.00 in a research report issued on Thursday, The Fly reports. Credit Suisse Group’s target price would indicate a potential upside of 106.77% from the company’s previous close.

MDB has been the topic of several other research reports. Tigress Financial initiated coverage on shares of MongoDB in a report on Friday, February 11th. They issued a “buy” rating and a $630.00 price target on the stock. Royal Bank of Canada initiated coverage on shares of MongoDB in a research report on Tuesday, March 1st. They issued an “outperform” rating and a $505.00 price objective for the company. Stifel Nicolaus dropped their price target on shares of MongoDB from $550.00 to $425.00 in a research report on Wednesday, March 9th. Morgan Stanley dropped their price target on shares of MongoDB from $475.00 to $378.00 and set an “overweight” rating for the company in a research report on Thursday, May 19th. Finally, Zacks Investment Research lowered shares of MongoDB from a “hold” rating to a “sell” rating in a research report on Thursday, February 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $452.61.

MDB stock opened at $241.81 on Thursday. The company has a market cap of $16.34 billion, a P/E ratio of -51.01 and a beta of 1.01. MongoDB has a 52 week low of $213.39 and a 52 week high of $590.00. The company’s 50-day moving average price is $343.10 and its 200 day moving average price is $403.96. The company has a current ratio of 4.02, a quick ratio of 4.02 and a debt-to-equity ratio of 1.70.

MongoDB (NASDAQ:MDB – Get Rating) last released its quarterly earnings data on Wednesday, June 1st. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of ($1.34) by $1.54. The firm had revenue of $285.45 million for the quarter, compared to the consensus estimate of $267.10 million. MongoDB had a negative net margin of 35.12% and a negative return on equity of 66.70%. The firm’s revenue was up 57.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.98) earnings per share. On average, equities research analysts expect that MongoDB will post -5.48 earnings per share for the current year.

In other news, CRO Cedric Pech sold 309 shares of the company’s stock in a transaction on Monday, April 4th. The shares were sold at an average price of $443.77, for a total value of $137,124.93. Following the completion of the transaction, the executive now directly owns 46,135 shares in the company, valued at $20,473,328.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dev Ittycheria sold 35,000 shares of the company’s stock in a transaction on Friday, March 4th. The shares were sold at an average price of $309.78, for a total transaction of $10,842,300.00. The disclosure for this sale can be found here. Insiders sold 122,809 shares of company stock valued at $43,079,955 in the last three months. Company insiders own 5.70% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Neuberger Berman Group LLC boosted its stake in MongoDB by 1.2% during the 1st quarter. Neuberger Berman Group LLC now owns 120,584 shares of the company’s stock valued at $53,489,000 after acquiring an additional 1,443 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in MongoDB by 2,441.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 38,446 shares of the company’s stock valued at $16,561,000 after acquiring an additional 36,933 shares during the last quarter. Worldquant Millennium Advisors LLC bought a new position in MongoDB during the 1st quarter valued at $7,910,000. Altimeter Capital Management LP boosted its stake in MongoDB by 23.2% during the 1st quarter. Altimeter Capital Management LP now owns 308,000 shares of the company’s stock valued at $136,626,000 after acquiring an additional 58,000 shares during the last quarter. Finally, Beacon Pointe Advisors LLC boosted its stake in MongoDB by 78.0% during the 1st quarter. Beacon Pointe Advisors LLC now owns 678 shares of the company’s stock valued at $301,000 after acquiring an additional 297 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

About MongoDB (Get Rating)

MongoDB, Inc provides general purpose database platform worldwide. The company offers MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.

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