MongoDB (NASDAQ:MDB) Given New $275.00 Price Target at Stifel Nicolaus

MongoDB (NASDAQ:MDB - Get Free Report) had its target price cut by investment analysts at Stifel Nicolaus from $340.00 to $275.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Stifel Nicolaus' price objective would suggest a potential upside of 73.42% from the company's current price.

MDB has been the topic of several other research reports. Royal Bank of Canada dropped their price objective on shares of MongoDB from $400.00 to $320.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. Tigress Financial increased their price target on MongoDB from $400.00 to $430.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. Loop Capital decreased their price objective on MongoDB from $400.00 to $350.00 and set a "buy" rating for the company in a report on Monday, March 3rd. Monness Crespi & Hardt raised MongoDB from a "sell" rating to a "neutral" rating in a research report on Monday, March 3rd. Finally, Needham & Company LLC reduced their price target on shares of MongoDB from $415.00 to $270.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $303.97.

MongoDB Price Performance

NASDAQ MDB traded down $0.01 on Friday, reaching $158.57. The company had a trading volume of 1,096,278 shares, compared to its average volume of 1,802,714. The business has a 50 day moving average of $215.59 and a two-hundred day moving average of $254.53. MongoDB has a fifty-two week low of $140.78 and a fifty-two week high of $387.19. The firm has a market cap of $12.87 billion, a price-to-earnings ratio of -57.87 and a beta of 1.49.

MongoDB (NASDAQ:MDB - Get Free Report) last released its earnings results 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). The firm had revenue of $548.40 million during the quarter, compared to analyst estimates 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 firm earned $0.86 EPS. As a group, research analysts predict that MongoDB will post -1.78 earnings per share for the current fiscal 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, CEO Dev Ittycheria sold 18,512 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 $3,207,389.12. Following the completion of the sale, the chief executive officer now owns 268,948 shares in the company, valued at approximately $46,597,930.48. This trade represents a 6.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 57,015 shares of company stock valued at $13,208,285 over the last three months. Corporate insiders own 3.60% of the company's stock.

Institutional Trading of MongoDB

Hedge funds and other institutional investors have recently made changes to their positions in the stock. OneDigital Investment Advisors LLC grew its stake in shares of MongoDB by 3.9% in the fourth quarter. OneDigital Investment Advisors LLC now owns 1,044 shares of the company's stock worth $243,000 after acquiring an additional 39 shares during the last quarter. Hilltop National Bank increased its stake in MongoDB by 47.2% during the 4th quarter. Hilltop National Bank now owns 131 shares of the company's stock valued at $30,000 after purchasing an additional 42 shares in the last quarter. Avestar Capital LLC increased its stake in MongoDB by 2.0% during the 4th quarter. Avestar Capital LLC now owns 2,165 shares of the company's stock valued at $504,000 after purchasing an additional 42 shares in the last quarter. Aigen Investment Management LP lifted its stake in shares of MongoDB by 1.4% in the fourth quarter. Aigen Investment Management LP now owns 3,921 shares of the company's stock worth $913,000 after buying an additional 55 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in shares of MongoDB by 0.4% during the first quarter. Handelsbanken Fonder AB now owns 14,816 shares of the company's stock valued at $2,599,000 after buying an additional 65 shares during 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.