Loop Capital Downgrades MongoDB (NASDAQ:MDB) to Hold

MongoDB (NASDAQ:MDB - Get Free Report) was downgraded by research analysts at Loop Capital from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Tuesday, MarketBeat reports. They presently have a $190.00 price target on the stock, down from their prior price target of $350.00. Loop Capital's target price would suggest a potential upside of 0.52% from the stock's previous close.

A number of other brokerages have also commented on MDB. Macquarie decreased their price target on shares of MongoDB from $300.00 to $215.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. China Renaissance assumed coverage on MongoDB in a research report on Tuesday, January 21st. They set a "buy" rating and a $351.00 price target on the stock. Truist Financial cut their price objective on MongoDB from $300.00 to $275.00 and set a "buy" rating for the company in a report on Monday, March 31st. Stifel Nicolaus decreased their price objective on MongoDB from $340.00 to $275.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Finally, Wells Fargo & Company lowered MongoDB from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $365.00 to $225.00 in a research note on Thursday, March 6th. Nine equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $288.91.

MongoDB Trading Down 1.2%

MongoDB stock opened at $189.01 on Tuesday. MongoDB has a 1-year low of $140.78 and a 1-year high of $379.06. The firm has a market capitalization of $15.35 billion, a PE ratio of -68.98 and a beta of 1.49. The firm's 50 day simple moving average is $174.77 and its 200 day simple moving average is $238.15.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 earnings per share (EPS) 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 business 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 business posted $0.86 EPS. Research analysts forecast that MongoDB will post -1.78 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Srdjan Tanjga sold 525 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total value of $90,961.50. Following the completion of the transaction, the chief financial officer now directly owns 6,406 shares in the company, valued at $1,109,903.56. This trade represents a 7.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Cedric Pech sold 1,690 shares of the company's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total transaction of $292,809.40. Following the completion of the sale, the insider now owns 57,634 shares in the company, valued at approximately $9,985,666.84. This trade represents a 2.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,538 shares of company stock valued at $6,889,905 over the last three months. Corporate insiders own 3.60% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MDB. Strategic Investment Solutions Inc. IL purchased a new position in shares of MongoDB in the 4th quarter worth about $29,000. Cloud Capital Management LLC purchased a new position in MongoDB in the first quarter worth about $25,000. NCP Inc. bought a new position in shares of MongoDB in the fourth quarter worth approximately $35,000. Hollencrest Capital Management purchased a new stake in shares of MongoDB during the first quarter valued at approximately $26,000. Finally, Cullen Frost Bankers Inc. lifted its position in MongoDB by 315.8% in the 1st quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company's stock valued at $28,000 after acquiring an additional 120 shares in the last quarter. Hedge funds and other institutional investors 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.

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