MongoDB (NASDAQ:MDB) Price Target Lowered to $440.00 at KeyCorp

MongoDB (NASDAQ:MDB) had its target price reduced by KeyCorp from $490.00 to $440.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages have also weighed in on MDB. DA Davidson raised shares of MongoDB from a neutral rating to a buy rating and upped their target price for the stock from $405.00 to $430.00 in a research note on Friday, March 8th. Tigress Financial upped their price objective on MongoDB from $495.00 to $500.00 and gave the stock a buy rating in a research report on Thursday, March 28th. JMP Securities reiterated a market outperform rating and set a $440.00 price objective on shares of MongoDB in a report on Monday, January 22nd. UBS Group restated a neutral rating and issued a $410.00 target price (down previously from $475.00) on shares of MongoDB in a research note on Thursday, January 4th. Finally, Truist Financial raised their price target on shares of MongoDB from $440.00 to $500.00 and gave the stock a buy rating in a research note on Tuesday, February 20th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, MongoDB has an average rating of Moderate Buy and a consensus target price of $444.93.

MongoDB Stock Down 2.1 %

Shares of MongoDB stock opened at $335.55 on Thursday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 4.40 and a current ratio of 4.40. The business has a 50-day moving average of $394.28 and a two-hundred day moving average of $390.06. MongoDB has a 1 year low of $212.52 and a 1 year high of $509.62.

MongoDB (NASDAQ:MDB) last posted its earnings results on Thursday, March 7th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.32). The business had revenue of $458.00 million for the quarter, compared to the consensus estimate of $431.99 million. MongoDB had a negative return on equity of 16.22% and a negative net margin of 10.49%. Analysts anticipate that MongoDB will post -2.53 EPS for the current year.

Insider Buying and Selling at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $365.00, for a total transaction of $730,000.00. Following the completion of the sale, the director now directly owns 1,154,784 shares in the company, valued at $421,496,160. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Thomas Bull sold 170 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $348.12, for a total value of $59,180.40. Following the transaction, the chief accounting officer now directly owns 17,360 shares in the company, valued at $6,043,363.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dwight A. Merriman sold 2,000 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $365.00, for a total transaction of $730,000.00. Following the transaction, the director now directly owns 1,154,784 shares in the company, valued at $421,496,160. The disclosure for this sale can be found here. Insiders have sold a total of 92,802 shares of company stock valued at $36,356,911 in the last three months. 4.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Diversified Trust Co boosted its stake in shares of MongoDB by 19.0% in the first quarter. Diversified Trust Co now owns 4,111 shares of the company’s stock valued at $1,474,000 after buying an additional 657 shares during the period. New England Research & Management Inc. lifted its position in shares of MongoDB by 170.4% during the 1st quarter. New England Research & Management Inc. now owns 2,785 shares of the company’s stock valued at $999,000 after acquiring an additional 1,755 shares during the period. Sunbelt Securities Inc. grew its holdings in shares of MongoDB by 155.1% during the 1st quarter. Sunbelt Securities Inc. now owns 125 shares of the company’s stock worth $45,000 after purchasing an additional 76 shares in the last quarter. Strategic Planning Group LLC increased its position in shares of MongoDB by 23.8% in the first quarter. Strategic Planning Group LLC now owns 1,469 shares of the company’s stock worth $527,000 after purchasing an additional 282 shares during the period. Finally, Rheos Capital Works Inc. raised its stake in MongoDB by 91.4% in the first quarter. Rheos Capital Works Inc. now owns 67,000 shares of the company’s stock valued at $24,029,000 after purchasing an additional 32,000 shares in the last quarter. Institutional investors and hedge funds 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.