Bank of America Trims MongoDB (NASDAQ:MDB) Target Price to $470.00

MongoDB (NASDAQ:MDB - Free Report) had its price target lowered by Bank of America from $500.00 to $470.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also issued reports on the stock. JMP Securities restated a market outperform rating and issued a $440.00 target price on shares of MongoDB in a report on Monday, January 22nd. Tigress Financial raised their price objective on shares of MongoDB from $495.00 to $500.00 and gave the stock a buy rating in a research note on Thursday, March 28th. Needham & Company LLC reaffirmed a buy rating and set a $465.00 target price on shares of MongoDB in a research note on Friday, May 3rd. Citigroup raised their price target on MongoDB from $515.00 to $550.00 and gave the stock a buy rating in a research note on Wednesday, March 6th. Finally, Redburn Atlantic restated a sell rating and set a $295.00 price objective (down previously from $410.00) on shares of MongoDB in a report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $444.57.

MongoDB Price Performance

Shares of MDB stock traded up $0.88 on Friday, reaching $370.82. The company's stock had a trading volume of 668,071 shares, compared to its average volume of 1,314,319. The stock's fifty day simple moving average is $358.62 and its 200-day simple moving average is $391.80. MongoDB has a 1 year low of $267.68 and a 1 year high of $509.62. The company has a market capitalization of $27.01 billion, a price-to-earnings ratio of -149.52 and a beta of 1.19. The company has a current ratio of 4.40, a quick ratio of 4.40 and a debt-to-equity ratio of 1.07.

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

Insider Transactions at MongoDB

In other news, CAO Thomas Bull sold 170 shares of the company's stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $348.12, for a total transaction of $59,180.40. Following the transaction, the chief accounting officer now directly owns 17,360 shares of the company's stock, valued at $6,043,363.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Michael Lawrence Gordon sold 9,316 shares of MongoDB stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $348.12, for a total value of $3,243,085.92. Following the completion of the sale, the chief financial officer now directly owns 83,511 shares in the company, valued at approximately $29,071,849.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Thomas Bull sold 170 shares of the business's stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $348.12, for a total transaction of $59,180.40. Following the sale, the chief accounting officer now directly owns 17,360 shares in the company, valued at approximately $6,043,363.20. The disclosure for this sale can be found here. Insiders have sold a total of 46,802 shares of company stock valued at $16,514,071 in the last 90 days. Insiders own 4.80% of the company's stock.

Institutional Investors Weigh In On MongoDB

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Artal Group S.A. lifted its holdings in shares of MongoDB by 100.0% during the first quarter. Artal Group S.A. now owns 2,000 shares of the company's stock worth $717,000 after purchasing an additional 1,000 shares during the period. Plato Investment Management Ltd lifted its stake in MongoDB by 408.5% during the 1st quarter. Plato Investment Management Ltd now owns 1,078 shares of the company's stock valued at $387,000 after acquiring an additional 866 shares during the period. Western Pacific Wealth Management LP boosted its holdings in shares of MongoDB by 218.2% in the 1st quarter. Western Pacific Wealth Management LP now owns 175 shares of the company's stock valued at $63,000 after acquiring an additional 120 shares during the last quarter. Comerica Bank increased its stake in shares of MongoDB by 103.4% in the first quarter. Comerica Bank now owns 22,575 shares of the company's stock worth $8,096,000 after acquiring an additional 11,476 shares during the period. Finally, Tidal Investments LLC raised its holdings in shares of MongoDB by 222.6% during the first quarter. Tidal Investments LLC now owns 7,523 shares of the company's stock worth $2,698,000 after purchasing an additional 5,191 shares during the last quarter. 89.29% of the stock is currently 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.