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

MongoDB (NASDAQ:MDB) had its price target reduced by Oppenheimer from $400.00 to $330.00 in a report issued on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

MDB has been the topic of several other research reports. Macquarie started coverage on shares of MongoDB in a research note on Thursday, December 12th. They set a “neutral” rating and a $300.00 target price on the stock. Tigress Financial boosted their target price on MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. The Goldman Sachs Group increased their price target on MongoDB from $340.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. UBS Group set a $350.00 price objective on MongoDB in a report on Tuesday. Finally, Bank of America lowered their target price on MongoDB from $420.00 to $286.00 and set a “buy” rating on the stock in a report on Thursday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $319.87.

MongoDB Stock Performance

MDB opened at $187.65 on Thursday. MongoDB has a 1 year low of $181.05 and a 1 year high of $387.19. The company has a market cap of $13.97 billion, a PE ratio of -68.49 and a beta of 1.30. The firm has a 50 day moving average price of $261.68 and a 200 day moving average price of $274.38.

MongoDB (NASDAQ:MDB) last released its 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). The company had revenue of $548.40 million during the quarter, compared to the consensus estimate 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 period in the previous year, the firm posted $0.86 EPS. On average, sell-side analysts predict that MongoDB will post -1.78 earnings per share for the current year.

Insider Buying and Selling at MongoDB

In other MongoDB news, CAO Thomas Bull sold 1,000 shares of MongoDB stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $355.92, for a total value of $355,920.00. Following the completion of the sale, the chief accounting officer now directly owns 15,068 shares in the company, valued at approximately $5,363,002.56. The trade was a 6.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dwight A. Merriman sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $270.63, for a total transaction of $811,890.00. Following the sale, the director now directly owns 1,109,006 shares of the company’s stock, valued at approximately $300,130,293.78. This trade represents a 0.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,314 shares of company stock worth $13,337,753. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. OneDigital Investment Advisors LLC increased its holdings in MongoDB by 3.9% during the 4th quarter. OneDigital Investment Advisors LLC now owns 1,044 shares of the company’s stock worth $243,000 after purchasing an additional 39 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of MongoDB by 3.8% during the third quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the company’s stock valued at $295,000 after buying an additional 40 shares during the last quarter. Hilltop National Bank grew its holdings in MongoDB by 47.2% during the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after buying an additional 42 shares in the last quarter. Avestar Capital LLC raised its position in MongoDB by 2.0% in the 4th quarter. Avestar Capital LLC now owns 2,165 shares of the company’s stock valued at $504,000 after buying an additional 42 shares during the last quarter. Finally, Rakuten Securities Inc. lifted its stake in MongoDB by 16.5% during the 3rd quarter. Rakuten Securities Inc. now owns 332 shares of the company’s stock valued at $90,000 after acquiring an additional 47 shares in the last quarter. 89.29% of the stock is owned by 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.