Barclays Lowers MongoDB (NASDAQ:MDB) Price Target to $233.00

MongoDB (NASDAQ:MDBGet Rating) had its target price reduced by equities researchers at Barclays from $300.00 to $233.00 in a note issued to investors on Friday, The Fly reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective indicates a potential upside of 45.73% from the company’s current price.

A number of other analysts also recently issued reports on the stock. Needham & Company LLC dropped their target price on shares of MongoDB from $350.00 to $330.00 and set a “buy” rating for the company in a research report on Thursday, September 1st. Citigroup dropped their target price on shares of MongoDB from $450.00 to $445.00 and set a “buy” rating for the company in a research report on Thursday, September 1st. Redburn Partners raised shares of MongoDB from a “sell” rating to a “neutral” rating in a research report on Tuesday, October 18th. Piper Sandler dropped their target price on shares of MongoDB from $350.00 to $270.00 and set an “overweight” rating for the company in a research report on Thursday, October 20th. Finally, Royal Bank of Canada lowered their price objective on shares of MongoDB from $400.00 to $350.00 and set an “outperform” rating for the company in a research report on Thursday, September 1st. Two analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $360.84.

MongoDB Trading Down 2.4 %

Shares of MDB stock opened at $159.88 on Friday. The firm has a market cap of $10.99 billion, a P/E ratio of -29.83 and a beta of 1.07. MongoDB has a 1-year low of $135.15 and a 1-year high of $580.47. The company has a debt-to-equity ratio of 1.70, a current ratio of 4.02 and a quick ratio of 4.02. The firm’s 50-day simple moving average is $189.34 and its 200-day simple moving average is $255.20.

MongoDB (NASDAQ:MDBGet Rating) last posted its earnings results on Wednesday, August 31st. The company reported ($1.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.52) by ($0.17). The business had revenue of $303.66 million for the quarter, compared to analyst estimates of $282.31 million. MongoDB had a negative return on equity of 52.05% and a negative net margin of 33.43%. The firm’s revenue for the quarter was up 52.8% compared to the same quarter last year. During the same period last year, the company posted ($1.15) EPS. As a group, equities analysts forecast that MongoDB will post -5.37 EPS for the current year.

Insider Transactions at MongoDB

In other news, insider Thomas Bull sold 502 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $198.84, for a total transaction of $99,817.68. Following the completion of the sale, the insider now owns 16,602 shares of the company’s stock, valued at $3,301,141.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Thomas Bull sold 502 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $198.84, for a total transaction of $99,817.68. Following the transaction, the insider now directly owns 16,602 shares in the company, valued at $3,301,141.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Dev Ittycheria sold 40,107 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $199.87, for a total value of $8,016,186.09. Following the transaction, the chief executive officer now owns 194,646 shares in the company, valued at $38,903,896.02. The disclosure for this sale can be found here. Over the last quarter, insiders sold 87,665 shares of company stock valued at $19,034,603. 5.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MongoDB

Several large investors have recently added to or reduced their stakes in MDB. Alpha Paradigm Partners LLC bought a new stake in MongoDB in the third quarter valued at $645,000. Enlightenment Research LLC bought a new stake in MongoDB in the third quarter valued at $377,000. Neuberger Berman Group LLC lifted its stake in MongoDB by 56.0% in the third quarter. Neuberger Berman Group LLC now owns 212,644 shares of the company’s stock valued at $42,122,000 after buying an additional 76,354 shares during the last quarter. State Street Corp lifted its stake in MongoDB by 1.8% in the third quarter. State Street Corp now owns 1,349,260 shares of the company’s stock valued at $267,909,000 after buying an additional 23,846 shares during the last quarter. Finally, EMC Capital Management lifted its stake in MongoDB by 150.0% in the third quarter. EMC Capital Management now owns 1,500 shares of the company’s stock valued at $257,000 after buying an additional 900 shares during the last quarter. 89.85% of the stock is currently owned by institutional investors.

About MongoDB

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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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