Truist Financial Issues Pessimistic Forecast for MongoDB (NASDAQ:MDB) Stock Price

MongoDB (NASDAQ:MDB) had its target price decreased by stock analysts at Truist Financial from $300.00 to $275.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 55.71% from the stock’s current price.

MDB has been the subject of several other research reports. Mizuho boosted their price target on shares of MongoDB from $275.00 to $320.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. The Goldman Sachs Group reduced their price objective on shares of MongoDB from $390.00 to $335.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. DA Davidson increased their target price on MongoDB from $340.00 to $405.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Tigress Financial boosted their price target on MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Finally, Loop Capital dropped their price objective on MongoDB from $400.00 to $350.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Seven equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, MongoDB presently has an average rating of “Moderate Buy” and an average target price of $312.84.

MongoDB Price Performance

Shares of MDB opened at $176.61 on Monday. The firm has a market capitalization of $14.34 billion, a price-to-earnings ratio of -64.46 and a beta of 1.30. MongoDB has a 1-year low of $170.66 and a 1-year high of $387.19. The company has a 50-day moving average of $242.38 and a 200 day moving average of $264.31.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $548.40 million for the quarter, compared to the consensus estimate of $519.65 million. During the same period in the prior year, the firm posted $0.86 EPS. On average, equities analysts anticipate that MongoDB will post -1.78 earnings per share for the current fiscal year.

Insider Activity

In other MongoDB news, insider Cedric Pech sold 287 shares of the company’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 value of $67,183.83. Following the sale, the insider now owns 24,390 shares in the company, valued at approximately $5,709,455.10. This represents a 1.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Dev Ittycheria sold 8,335 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $254.86, for a total transaction of $2,124,258.10. Following the sale, the chief executive officer now directly owns 217,294 shares in the company, valued at $55,379,548.84. The trade was a 3.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,139 shares of company stock valued at $11,328,869 in the last ninety days. Insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

Hedge funds have recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL purchased a new position in MongoDB in the fourth quarter valued at $29,000. Hilltop National Bank increased 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 in the last quarter. NCP Inc. purchased a new position in shares of MongoDB in the 4th quarter valued at about $35,000. Continuum Advisory LLC raised its holdings in MongoDB by 621.1% in 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 period. Finally, Versant Capital Management Inc grew its holdings 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 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.