MongoDB, Inc. (NASDAQ:MDB - Get Free Report)'s share price was down 5.2% during trading on Thursday . The stock traded as low as $205.55 and last traded at $205.93. Approximately 924,866 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 1,965,656 shares. The stock had previously closed at $217.12.
Analysts Set New Price Targets
MDB has been the topic of several recent analyst reports. Wolfe Research initiated coverage on MongoDB in a research note on Wednesday. They issued an "outperform" rating and a $280.00 price target on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $270.00 price target on shares of MongoDB in a research note on Thursday, June 5th. Citigroup decreased their price target on MongoDB from $430.00 to $330.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st. Daiwa America upgraded MongoDB to a "strong-buy" rating in a research note on Tuesday, April 1st. Finally, JMP Securities reiterated a "market outperform" rating and issued a $345.00 price target on shares of MongoDB in a research note on Thursday, June 5th. Eight investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $282.39.
Get Our Latest Stock Analysis on MDB
MongoDB Trading Down 1.8%
The company has a 50-day moving average price of $197.71 and a two-hundred day moving average price of $214.60. The stock has a market capitalization of $17.42 billion, a P/E ratio of -187.10 and a beta of 1.41.
MongoDB (NASDAQ:MDB - Get Free Report) last issued its earnings results on Wednesday, June 4th. The company reported $1.00 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.35. MongoDB had a negative return on equity of 3.16% and a negative net margin of 4.09%. The business had revenue of $549.01 million during the quarter, compared to analyst estimates of $527.49 million. During the same period in the previous year, the company posted $0.51 EPS. The firm's revenue was up 21.8% compared to the same quarter last year. Research analysts forecast that MongoDB, Inc. will post -1.78 earnings per share for the current year.
Insider Activity at MongoDB
In other MongoDB news, Director Hope F. Cochran sold 1,174 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $201.08, for a total transaction of $236,067.92. Following the completion of the sale, the director directly owned 21,096 shares of the company's stock, valued at approximately $4,241,983.68. The trade was a 5.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Dev Ittycheria sold 3,747 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $206.05, for a total value of $772,069.35. Following the sale, the chief executive officer directly owned 253,227 shares of the company's stock, valued at $52,177,423.35. This represents a 1.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,746 shares of company stock valued at $7,500,196 in the last three months. Corporate insiders own 3.10% of the company's stock.
Hedge Funds Weigh In On MongoDB
Hedge funds and other institutional investors have recently modified their holdings of the business. Cloud Capital Management LLC purchased a new position in shares of MongoDB in the 1st quarter worth approximately $25,000. Hollencrest Capital Management purchased a new position in shares of MongoDB in the 1st quarter worth approximately $26,000. Cullen Frost Bankers Inc. boosted 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 worth $28,000 after buying an additional 120 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of MongoDB in the 4th quarter worth approximately $29,000. Finally, Coppell Advisory Solutions LLC boosted its stake in shares of MongoDB by 364.0% in the 4th quarter. Coppell Advisory Solutions LLC now owns 232 shares of the company's stock worth $54,000 after buying an additional 182 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company's stock.
MongoDB Company Profile
(
Get Free Report)
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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