Citigroup Lowers MongoDB (NASDAQ:MDB) Price Target to $330.00

MongoDB (NASDAQ:MDB) had its price objective lowered by stock analysts at Citigroup from $430.00 to $330.00 in a note issued to investors on Tuesday, MarketBeat Ratings reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective suggests a potential upside of 83.14% from the stock’s previous close.

MDB has been the topic of a number of other research reports. Wedbush lowered their target price on MongoDB from $360.00 to $300.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Wells Fargo & Company lowered MongoDB from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $365.00 to $225.00 in a research note on Thursday, March 6th. KeyCorp downgraded shares of MongoDB from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Oppenheimer decreased their price target on shares of MongoDB from $400.00 to $330.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Finally, Bank of America cut their price objective on shares of MongoDB from $420.00 to $286.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat.com, MongoDB presently has a consensus rating of “Moderate Buy” and a consensus target price of $312.84.

MongoDB Stock Up 2.0 %

NASDAQ:MDB opened at $180.19 on Tuesday. MongoDB has a 52-week low of $170.66 and a 52-week high of $387.19. The stock has a fifty day simple moving average of $240.77 and a 200-day simple moving average of $263.72. The company has a market capitalization of $14.63 billion, a PE ratio of -65.76 and a beta of 1.30.

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

Insider Buying and Selling at MongoDB

In related news, Director Dwight A. Merriman sold 1,045 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $242.67, for a total transaction of $253,590.15. Following the sale, the director now directly owns 85,652 shares of the company’s stock, valued at approximately $20,785,170.84. This represents a 1.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Dev Ittycheria sold 8,335 shares of MongoDB stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $279.99, for a total transaction of $2,333,716.65. Following the completion of the transaction, the chief executive officer now directly owns 217,294 shares of the company’s stock, valued at approximately $60,840,147.06. This represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,857 shares of company stock worth $9,613,306 in the last ninety days. 3.60% of the stock is owned by insiders.

Institutional Investors Weigh In On MongoDB

Several institutional investors and hedge funds have recently bought and sold shares of the business. B.O.S.S. Retirement Advisors LLC acquired a new position in shares of MongoDB during the fourth quarter valued at $606,000. Geode Capital Management LLC boosted its stake in MongoDB by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock valued at $331,776,000 after purchasing an additional 34,814 shares during the period. Union Bancaire Privee UBP SA acquired a new position in MongoDB during the 4th quarter valued at about $3,515,000. Nisa Investment Advisors LLC increased its stake in shares of MongoDB by 428.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,755 shares of the company’s stock valued at $1,340,000 after purchasing an additional 4,665 shares during the period. Finally, HighTower Advisors LLC raised its holdings in shares of MongoDB by 2.0% during the fourth quarter. HighTower Advisors LLC now owns 18,773 shares of the company’s stock valued at $4,371,000 after buying an additional 372 shares during the last quarter. 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.