MongoDB (NASDAQ:MDB) Reaches New 12-Month Low on Analyst Downgrade

Shares of MongoDB, Inc. (NASDAQ:MDB) reached a new 52-week low during trading on Monday after Citigroup lowered their price target on the stock from $430.00 to $330.00. Citigroup currently has a buy rating on the stock. MongoDB traded as low as $171.21 and last traded at $174.84, with a volume of 155238 shares traded. The stock had previously closed at $178.03.

Several other brokerages also recently weighed in on MDB. Rosenblatt Securities reiterated a “buy” rating and issued a $350.00 price target on shares of MongoDB in a report on Tuesday, March 4th. Guggenheim upgraded shares of MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 target price for the company in a research note on Monday, January 6th. Tigress Financial raised their target price on MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Macquarie cut their price objective on MongoDB from $300.00 to $215.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Finally, Morgan Stanley decreased their price objective on shares of MongoDB from $350.00 to $315.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $312.84.

Insider Buying and Selling at MongoDB

In other MongoDB news, CEO Dev Ittycheria sold 8,335 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $279.99, for a total transaction of $2,333,716.65. Following the sale, the chief executive officer now directly owns 217,294 shares in the company, valued at $60,840,147.06. This represents a 3.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $270.63, for a total value of $811,890.00. Following the completion of the sale, the director now owns 1,109,006 shares in the company, valued at approximately $300,130,293.78. The trade was a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,139 shares of company stock worth $11,328,869 over the last quarter. 3.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MongoDB

Institutional investors and hedge funds have recently made changes to their positions in the stock. Strategic Investment Solutions Inc. IL purchased a new stake in MongoDB during the 4th quarter worth about $29,000. Hilltop National Bank grew its stake in shares of MongoDB by 47.2% in the 4th quarter. Hilltop National Bank now owns 131 shares of the company’s stock valued at $30,000 after purchasing an additional 42 shares during the last quarter. NCP Inc. acquired a new position in shares of MongoDB in the fourth quarter valued at approximately $35,000. Continuum Advisory LLC raised its position in MongoDB by 621.1% during the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock worth $40,000 after buying an additional 118 shares during the last quarter. Finally, Versant Capital Management Inc lifted its position in MongoDB by 1,100.0% in the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock valued at $42,000 after purchasing an additional 165 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

MongoDB Price Performance

The stock has a market capitalization of $14.34 billion, a PE ratio of -64.46 and a beta of 1.30. The stock has a 50 day moving average of $242.38 and a two-hundred day moving average of $264.31.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The firm had revenue of $548.40 million during the quarter, compared to analysts’ expectations of $519.65 million. During the same quarter in the prior year, the business earned $0.86 EPS. As a group, research analysts predict that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

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.