MongoDB (NASDAQ:MDB) Lowered to “Equal Weight” at Morgan Stanley

Morgan Stanley lowered shares of MongoDB (NASDAQ:MDBGet Rating) from an overweight rating to an equal weight rating in a report released on Monday morning, MarketBeat.com reports. The firm currently has $215.00 target price on the stock, down from their prior target price of $368.00.

Several other research firms have also recently issued reports on MDB. Needham & Company LLC decreased their price target on MongoDB from $350.00 to $330.00 and set a buy rating on the stock in a report on Thursday, September 1st. UBS Group decreased their price target on MongoDB from $430.00 to $390.00 and set a buy rating on the stock in a report on Thursday, September 1st. Robert W. Baird decreased their price target on MongoDB from $360.00 to $330.00 and set an outperform rating on the stock in a report on Thursday, September 1st. Citigroup decreased their price target on MongoDB from $450.00 to $445.00 and set a buy rating on the stock in a report on Thursday, September 1st. Finally, Barclays reduced their target price on MongoDB from $300.00 to $233.00 and set an overweight rating on the stock in a report on Friday. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, MongoDB presently has an average rating of Moderate Buy and a consensus price target of $345.90.

MongoDB Price Performance

Shares of MDB stock opened at $147.02 on Monday. The stock’s fifty day moving average is $186.71 and its 200-day moving average is $253.27. The company has a debt-to-equity ratio of 1.70, a quick ratio of 4.02 and a current ratio of 4.02. The stock has a market capitalization of $10.10 billion, a PE ratio of -27.43 and a beta of 1.07. MongoDB has a 52 week low of $135.15 and a 52 week high of $570.58.

MongoDB (NASDAQ:MDBGet Rating) last announced its earnings results on Wednesday, August 31st. The company reported ($1.69) EPS for the quarter, missing the consensus estimate of ($1.52) by ($0.17). The business had revenue of $303.66 million for the quarter, compared to the consensus estimate of $282.31 million. MongoDB had a negative return on equity of 52.05% and a negative net margin of 33.43%. MongoDB’s revenue for the quarter was up 52.8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.15) EPS. Equities research analysts expect that MongoDB will post -5.37 EPS for the current fiscal year.

Insider Activity at MongoDB

In related news, Director Archana Agrawal sold 663 shares of MongoDB stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $345.55, for a total value of $229,099.65. Following the sale, the director now owns 2,080 shares of the company’s stock, valued at approximately $718,744. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other MongoDB news, Director Archana Agrawal sold 663 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $345.55, for a total transaction of $229,099.65. Following the transaction, the director now owns 2,080 shares of the company’s stock, valued at approximately $718,744. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dwight A. Merriman sold 14,095 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $199.13, for a total value of $2,806,737.35. Following the transaction, the director now directly owns 1,322,954 shares in the company, valued at approximately $263,439,830.02. The disclosure for this sale can be found here. In the last quarter, insiders have sold 87,665 shares of company stock valued at $19,034,603. 5.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MDB. Park Avenue Securities LLC bought a new position in shares of MongoDB during the 1st quarter worth approximately $232,000. FDx Advisors Inc. bought a new position in shares of MongoDB during the 1st quarter worth approximately $260,000. State of New Jersey Common Pension Fund D boosted its stake in shares of MongoDB by 2.5% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 35,363 shares of the company’s stock worth $15,687,000 after acquiring an additional 858 shares during the period. Arizona State Retirement System boosted its stake in shares of MongoDB by 4.7% during the 1st quarter. Arizona State Retirement System now owns 16,579 shares of the company’s stock worth $7,354,000 after acquiring an additional 750 shares during the period. Finally, abrdn plc boosted its stake in shares of MongoDB by 5.8% during the 1st quarter. abrdn plc now owns 6,704 shares of the company’s stock worth $3,009,000 after acquiring an additional 365 shares during the period. Institutional investors and hedge funds own 89.85% of the company’s stock.

MongoDB Company Profile

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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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Analyst Recommendations for MongoDB (NASDAQ:MDB)

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