MongoDB (NASDAQ:MDB) Price Target Cut to $235.00 by Analysts at Guggenheim

MongoDB (NASDAQ:MDB - Free Report) had its target price lowered by Guggenheim from $300.00 to $235.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Guggenheim currently has a buy rating on the stock.

A number of other research analysts have also weighed in on the company. Wedbush decreased their price objective on MongoDB from $360.00 to $300.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. Macquarie decreased their price objective on MongoDB from $300.00 to $215.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. Citigroup reduced their price target on MongoDB from $430.00 to $330.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Barclays reduced their price target on MongoDB from $280.00 to $252.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Finally, Monness Crespi & Hardt upgraded MongoDB from a "sell" rating to a "neutral" rating in a report on Monday, March 3rd. Nine research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $286.88.

MongoDB Stock Performance

Shares of NASDAQ:MDB traded up $0.91 during midday trading on Wednesday, reaching $189.36. 1,642,242 shares of the company's stock traded hands, compared to its average volume of 1,936,664. MongoDB has a 1 year low of $140.78 and a 1 year high of $370.00. The company has a market cap of $15.37 billion, a P/E ratio of -69.11 and a beta of 1.49. The company has a fifty day simple moving average of $174.52 and a two-hundred day simple moving average of $234.21.

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

Insider Buying and Selling

In related news, CAO Thomas Bull sold 301 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $173.25, for a total transaction of $52,148.25. Following the sale, the chief accounting officer now owns 14,598 shares of the company's stock, valued at $2,529,103.50. This trade represents a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Cedric Pech sold 1,690 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total value of $292,809.40. Following the sale, the insider now directly owns 57,634 shares in the company, valued at approximately $9,985,666.84. The trade was a 2.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,203 shares of company stock valued at $4,660,459 over the last quarter. Company insiders own 3.60% of the company's stock.

Institutional Trading of MongoDB

A number of large investors have recently made changes to their positions in MDB. Strategic Investment Solutions Inc. IL purchased a new position in MongoDB during the fourth quarter worth about $29,000. Cloud Capital Management LLC purchased a new position in MongoDB during the first quarter worth about $25,000. NCP Inc. purchased a new position in MongoDB during the fourth quarter worth about $35,000. Hollencrest Capital Management acquired a new position in shares of MongoDB in the 1st quarter valued at about $26,000. Finally, Cullen Frost Bankers Inc. lifted its stake in shares of 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 purchasing an additional 120 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company's stock.

About MongoDB

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.