MongoDB (NASDAQ:MDB) Price Target Cut to $440.00 by Analysts at KeyCorp

MongoDB (NASDAQ:MDB) had its target price lowered by analysts at KeyCorp from $490.00 to $440.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price objective would indicate a potential upside of 28.37% from the company’s previous close.

Several other analysts have also recently commented on the stock. JMP Securities reiterated a “market outperform” rating and issued a $440.00 price objective on shares of MongoDB in a research note on Monday, January 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $465.00 price objective on shares of MongoDB in a research note on Tuesday, April 9th. Tigress Financial raised their price objective on shares of MongoDB from $495.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. DA Davidson upgraded shares of MongoDB from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $405.00 to $430.00 in a research report on Friday, March 8th. Finally, Citigroup lifted their target price on shares of MongoDB from $515.00 to $550.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $444.93.

MongoDB Stock Down 2.0 %

MDB stock opened at $342.75 on Thursday. MongoDB has a one year low of $212.52 and a one year high of $509.62. The stock has a market capitalization of $24.96 billion, a PE ratio of -138.21 and a beta of 1.19. 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 company has a fifty day moving average of $397.07 and a 200-day moving average of $390.45.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Thursday, March 7th. The company reported ($1.03) EPS for the quarter, missing the consensus estimate of ($0.71) by ($0.32). MongoDB had a negative net margin of 10.49% and a negative return on equity of 16.22%. The company had revenue of $458.00 million during the quarter, compared to analyst estimates of $431.99 million. As a group, analysts expect that MongoDB will post -2.53 EPS for the current year.

Insider Activity

In other news, Director Dwight A. Merriman sold 4,000 shares of the company’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $341.12, for a total value of $1,364,480.00. Following the completion of the transaction, the director now directly owns 1,156,784 shares in the company, valued at $394,602,158.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Dwight A. Merriman sold 4,000 shares of the company’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $341.12, for a total value of $1,364,480.00. Following the completion of the transaction, the director now directly owns 1,156,784 shares in the company, valued at $394,602,158.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Thomas Bull sold 170 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $348.12, for a total transaction of $59,180.40. Following the completion of the sale, the chief accounting officer now directly owns 17,360 shares in the company, valued at approximately $6,043,363.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 92,802 shares of company stock worth $36,356,911. 4.80% of the stock is currently owned by company insiders.

Institutional Trading of MongoDB

Large investors have recently modified their holdings of the company. Transcendent Capital Group LLC acquired a new stake in shares of MongoDB during the fourth quarter valued at approximately $25,000. KB Financial Partners LLC purchased a new position in MongoDB during the second quarter valued at approximately $27,000. Blue Trust Inc. grew its position in MongoDB by 937.5% during the fourth quarter. Blue Trust Inc. now owns 83 shares of the company’s stock valued at $34,000 after purchasing an additional 75 shares in the last quarter. BluePath Capital Management LLC bought a new stake in shares of MongoDB during the 3rd quarter worth $30,000. Finally, Parkside Financial Bank & Trust boosted its holdings in shares of MongoDB by 176.5% during the 2nd quarter. Parkside Financial Bank & Trust now owns 94 shares of the company’s stock worth $39,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

MongoDB Company Profile

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.