Morgan Stanley Lowers MongoDB (NASDAQ:MDB) Price Target to $368.00

Posted by on Jun 2nd, 2022

MongoDB (NASDAQ:MDB – Get Rating) had its price objective reduced by stock analysts at Morgan Stanley from $378.00 to $368.00 in a report issued on Thursday, Stock Target Advisor reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 32.53% from the stock’s current price.

A number of other equities analysts have also recently commented on MDB. Tigress Financial initiated coverage on shares of MongoDB in a research note on Friday, February 11th. They issued a “buy” rating and a $630.00 price target for the company. Stifel Nicolaus decreased their target price on shares of MongoDB from $425.00 to $340.00 in a research note on Thursday. Piper Sandler reduced their price target on shares of MongoDB from $585.00 to $430.00 and set an “overweight” rating on the stock in a research report on Thursday. Mizuho lowered their target price on shares of MongoDB from $325.00 to $270.00 and set a “neutral” rating for the company in a research note on Wednesday, May 18th. Finally, Barclays upped their price objective on shares of MongoDB from $330.00 to $338.00 and gave the company an “overweight” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, MongoDB currently has a consensus rating of “Buy” and a consensus target price of $440.00.

Shares of MongoDB stock traded up $35.86 during trading hours on Thursday, reaching $277.67. 59,520 shares of the company’s stock were exchanged, compared to its average volume of 2,047,626. The stock has a market cap of $18.76 billion, a P/E ratio of -58.58 and a beta of 1.01. 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 has a fifty-two week low of $213.39 and a fifty-two week high of $590.00. The company has a 50 day moving average of $343.10 and a two-hundred day moving average of $403.96.

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

In related news, CEO Dev Ittycheria sold 35,000 shares of the business’s stock in a transaction dated Thursday, May 5th. The shares were sold at an average price of $321.10, for a total transaction of $11,238,500.00. Following the transaction, the chief executive officer now directly owns 204,744 shares in the company, valued at $65,743,298.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO Cedric Pech sold 309 shares of the business’s stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $443.77, for a total transaction of $137,124.93. Following the completion of the transaction, the executive now owns 46,135 shares in the company, valued at $20,473,328.95. The disclosure for this sale can be found here. Insiders have sold 122,809 shares of company stock valued at $43,079,955 in the last ninety days. Insiders own 5.70% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Neuberger Berman Group LLC increased its holdings in MongoDB by 1.2% during the 1st quarter. Neuberger Berman Group LLC now owns 120,584 shares of the company’s stock worth $53,489,000 after acquiring an additional 1,443 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of 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 buying an additional 36,933 shares in the last quarter. Worldquant Millennium Advisors LLC bought a new stake in shares of MongoDB during the 1st quarter worth $7,910,000. Altimeter Capital Management LP grew its position in MongoDB by 23.2% in the first quarter. Altimeter Capital Management LP now owns 308,000 shares of the company’s stock worth $136,626,000 after acquiring an additional 58,000 shares in the last quarter. Finally, Beacon Pointe Advisors LLC increased its stake in MongoDB by 78.0% in the first 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. 88.70% of the stock is currently owned by institutional investors and hedge funds.

MongoDB Company Profile (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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