MongoDB (NASDAQ:MDB) Price Target Cut to $440.00

MongoDB (NASDAQ:MDB - Get Free Report) had its price target dropped by analysts at KeyCorp from $490.00 to $440.00 in a report issued on Thursday, Benzinga reports. The firm currently has an "overweight" rating on the stock. KeyCorp's price target would suggest a potential upside of 31.13% from the stock's previous close.

MDB has been the subject of several other reports. Truist Financial boosted their price objective on MongoDB from $440.00 to $500.00 and gave the company a "buy" rating in a report on Tuesday, February 20th. Needham & Company LLC reissued a "buy" rating and issued a $465.00 price objective on shares of MongoDB in a report on Tuesday, April 9th. Guggenheim boosted their price objective on MongoDB from $250.00 to $272.00 and gave the company a "sell" rating in a report on Monday, March 4th. Stifel Nicolaus restated a "buy" rating and issued a $435.00 target price on shares of MongoDB in a research note on Thursday, March 14th. Finally, DA Davidson upgraded MongoDB from a "neutral" rating to a "buy" rating and lifted their target price for the company from $405.00 to $430.00 in a research note on Friday, March 8th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $444.93.

MongoDB Stock Down 2.1 %

Shares of NASDAQ MDB traded down $7.20 during midday trading on Thursday, reaching $335.55. 1,082,406 shares of the company's stock were exchanged, compared to its average volume of 1,380,089. MongoDB has a 52-week low of $212.52 and a 52-week high of $509.62. The stock has a market capitalization of $24.44 billion, a PE ratio of -135.30 and a beta of 1.19. The company has a debt-to-equity ratio of 1.07, a quick ratio of 4.40 and a current ratio of 4.40. The business's fifty day moving average price is $397.07 and its two-hundred day moving average price is $390.45.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its earnings results on Thursday, March 7th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.71) by ($0.32). The business had revenue of $458.00 million for the quarter, compared to analysts' expectations of $431.99 million. MongoDB had a negative return on equity of 16.22% and a negative net margin of 10.49%. Analysts forecast that MongoDB will post -2.53 EPS for the current year.

Insider Buying and Selling at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 2,000 shares of the company's stock in a transaction on Monday, April 8th. The stock was sold at an average price of $365.00, for a total value of $730,000.00. Following the transaction, the director now owns 1,154,784 shares of the company's stock, valued at $421,496,160. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other MongoDB news, CRO Cedric Pech sold 1,430 shares of the company's stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $348.11, for a total value of $497,797.30. Following the transaction, the executive now owns 45,444 shares of the company's stock, valued at $15,819,510.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Dwight A. Merriman sold 2,000 shares of the business's stock in a transaction on Monday, April 8th. The shares were sold at an average price of $365.00, for a total transaction of $730,000.00. Following the sale, the director now directly owns 1,154,784 shares in the company, valued at $421,496,160. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 92,802 shares of company stock valued at $36,356,911. Corporate insiders own 4.80% of the company's stock.

Institutional Trading of MongoDB

Large investors have recently added to or reduced their stakes in the company. Raymond James & Associates raised its stake in MongoDB by 14.2% during the 4th quarter. Raymond James & Associates now owns 60,557 shares of the company's stock valued at $24,759,000 after purchasing an additional 7,510 shares during the period. Nordea Investment Management AB grew its holdings in shares of MongoDB by 298.2% during the 4th quarter. Nordea Investment Management AB now owns 18,657 shares of the company's stock valued at $7,735,000 after acquiring an additional 13,972 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of MongoDB by 9.7% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,903 shares of the company's stock valued at $658,000 after acquiring an additional 168 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of MongoDB by 1,196.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 29,215 shares of the company's stock valued at $11,945,000 after acquiring an additional 26,961 shares in the last quarter. Finally, Blueshift Asset Management LLC purchased a new position in shares of MongoDB during the 3rd quarter valued at $902,000. 89.29% of the stock is owned by institutional investors and hedge funds.

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.