Barclays Cuts MongoDB (NASDAQ:MDB) Price Target to $330.00

MongoDB (NASDAQ:MDB) had its price objective reduced by Barclays from $400.00 to $330.00 in a report published on Friday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other research firms have also recently weighed in on MDB. Scotiabank lifted their target price on shares of MongoDB from $295.00 to $350.00 and gave the company a “sector perform” rating in a research note on Tuesday, December 10th. Macquarie began coverage on MongoDB in a research report on Thursday, December 12th. They issued a “neutral” rating and a $300.00 price objective on the stock. Canaccord Genuity Group increased their target price on MongoDB from $325.00 to $385.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Loop Capital boosted their price target on MongoDB from $315.00 to $400.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Finally, Mizuho upped their price target on MongoDB from $275.00 to $320.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $364.64.

MongoDB Stock Performance

Shares of MongoDB stock opened at $245.22 on Friday. The stock has a market cap of $18.26 billion, a P/E ratio of -89.50 and a beta of 1.25. The stock’s fifty day moving average is $281.86 and its 200 day moving average is $269.59. MongoDB has a one year low of $212.74 and a one year high of $509.62.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.48. The firm had revenue of $529.40 million for the quarter, compared to analysts’ expectations of $497.39 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The business’s quarterly revenue was up 22.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.96 EPS. Analysts predict that MongoDB will post -1.86 EPS for the current year.

Insider Transactions at MongoDB

In other MongoDB news, insider Cedric Pech sold 287 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total value of $67,183.83. Following the completion of the sale, the insider now directly owns 24,390 shares of the company’s stock, valued at $5,709,455.10. The trade was a 1.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Thomas Bull sold 169 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $39,561.21. Following the transaction, the chief accounting officer now directly owns 14,899 shares in the company, valued at approximately $3,487,706.91. This trade represents a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,161 shares of company stock worth $6,976,256. 3.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MongoDB

Several hedge funds have recently made changes to their positions in MDB. Hilltop National Bank boosted its stake in shares of MongoDB by 47.2% during the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock valued at $30,000 after purchasing an additional 42 shares in the last quarter. Quarry LP boosted its position in MongoDB by 2,580.0% during the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock valued at $33,000 after acquiring an additional 129 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of MongoDB in the 3rd quarter valued at $36,000. GAMMA Investing LLC raised its position in shares of MongoDB by 178.8% in the 3rd quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock worth $39,000 after acquiring an additional 93 shares in the last quarter. Finally, Continuum Advisory LLC lifted its stake in shares of MongoDB by 621.1% during the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock worth $40,000 after purchasing an additional 118 shares during the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

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.