Macquarie Lowers MongoDB (NASDAQ:MDB) Price Target to $215.00

MongoDB (NASDAQ:MDB) had its price target cut by stock analysts at Macquarie from $300.00 to $215.00 in a report released on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Macquarie’s price target suggests a potential upside of 14.58% from the company’s current price.

A number of other equities analysts have also recently commented on the company. Wedbush lowered their target price on MongoDB from $360.00 to $300.00 and set an “outperform” rating for the company in a report on Thursday. DA Davidson raised their target price on MongoDB from $340.00 to $405.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Bank of America lowered their target price on MongoDB from $420.00 to $286.00 and set a “buy” rating for the company in a report on Thursday. JMP Securities reaffirmed a “market outperform” rating and issued a $380.00 price target on shares of MongoDB in a research report on Wednesday, December 11th. Finally, Wells Fargo & Company lowered MongoDB from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $365.00 to $225.00 in a research report on Thursday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $319.87.

MongoDB Trading Down 2.8 %

NASDAQ MDB opened at $187.65 on Friday. The stock has a market cap of $13.97 billion, a PE ratio of -68.49 and a beta of 1.30. MongoDB has a twelve month low of $181.05 and a twelve month high of $387.19. The stock has a fifty day simple moving average of $261.68 and a 200-day simple moving average of $274.38.

MongoDB (NASDAQ:MDB) last announced its earnings results on Wednesday, March 5th. The company reported $0.19 EPS 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 for the quarter, compared to analysts’ expectations of $519.65 million. During the same quarter last year, the business earned $0.86 earnings per share. Research analysts predict that MongoDB will post -1.78 EPS for the current year.

Insiders Place Their Bets

In other MongoDB news, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $270.63, for a total value of $811,890.00. Following the transaction, the director now directly owns 1,109,006 shares in the company, valued at approximately $300,130,293.78. This trade represents a 0.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Cedric Pech sold 287 shares of MongoDB stock in a transaction that occurred on 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 transaction, the insider now owns 24,390 shares in the company, valued at $5,709,455.10. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,314 shares of company stock valued at $13,337,753 over the last quarter. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of MongoDB in the fourth quarter valued at approximately $13,270,000. Azzad Asset Management Inc. ADV boosted its stake in shares of MongoDB by 17.7% in the fourth quarter. Azzad Asset Management Inc. ADV now owns 7,519 shares of the company’s stock valued at $1,750,000 after buying an additional 1,132 shares in the last quarter. Infinitum Asset Management LLC purchased a new stake in shares of MongoDB in the fourth quarter valued at approximately $8,148,000. Polar Asset Management Partners Inc. purchased a new stake in shares of MongoDB in the fourth quarter valued at approximately $14,458,000. Finally, Mackenzie Financial Corp boosted its stake in shares of MongoDB by 47.8% in the fourth quarter. Mackenzie Financial Corp now owns 5,731 shares of the company’s stock valued at $1,334,000 after buying an additional 1,854 shares in 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.