Rosenblatt Securities Issues Pessimistic Forecast for MongoDB (NASDAQ:MDB) Stock Price

MongoDB (NASDAQ:MDB - Free Report) had its price objective decreased by Rosenblatt Securities from $305.00 to $290.00 in a research report sent to investors on Thursday morning,Benzinga reports. Rosenblatt Securities currently has a buy rating on the stock.

Several other equities research analysts also recently weighed in on the stock. UBS Group set a $350.00 price target on shares of MongoDB in a research report on Tuesday, March 4th. Mizuho dropped their target price on shares of MongoDB from $250.00 to $190.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Wedbush dropped their target price on shares of MongoDB from $360.00 to $300.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. Redburn Atlantic upgraded shares of MongoDB from a "sell" rating to a "neutral" rating and set a $170.00 target price on the stock in a report on Thursday, April 17th. Finally, Robert W. Baird dropped their target price on shares of MongoDB from $390.00 to $300.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. Eight research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $282.00.

MongoDB Stock Up 12.8%

Shares of NASDAQ MDB traded up $25.65 on Thursday, reaching $225.38. 13,169,003 shares of the company's stock traded hands, compared to its average volume of 1,945,019. MongoDB has a 12 month low of $140.78 and a 12 month high of $370.00. The business's 50 day simple moving average is $175.65 and its two-hundred day simple moving average is $230.40. The company has a market cap of $18.30 billion, a price-to-earnings ratio of -82.26 and a beta of 1.40.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.35. The company had revenue of $549.01 million during the quarter, compared to the consensus estimate of $527.49 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The firm's quarterly revenue was up 21.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.51 earnings per share. Analysts forecast that MongoDB will post -1.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In other MongoDB news, insider Cedric Pech sold 1,690 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 57,634 shares of the company's stock, valued at $9,985,666.84. This trade represents a 2.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Srdjan Tanjga sold 525 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total transaction of $90,961.50. Following the completion of the sale, the chief financial officer now directly owns 6,406 shares of the company's stock, valued at $1,109,903.56. This trade represents a 7.57% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,203 shares of company stock valued at $3,848,569. 3.10% of the stock is currently owned by corporate insiders.

Institutional Trading of MongoDB

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in MongoDB by 6.6% in the first quarter. Vanguard Group Inc. now owns 7,809,768 shares of the company's stock valued at $1,369,833,000 after acquiring an additional 481,023 shares in the last quarter. Franklin Resources Inc. grew its position in shares of MongoDB by 9.7% during the fourth quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company's stock worth $478,398,000 after buying an additional 181,962 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of MongoDB by 11.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,271,444 shares of the company's stock worth $223,011,000 after buying an additional 129,451 shares in the last quarter. Geode Capital Management LLC grew its position in shares of MongoDB by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 1,252,142 shares of the company's stock worth $290,987,000 after buying an additional 22,106 shares in the last quarter. Finally, Amundi grew its position in shares of MongoDB by 53.0% during the first quarter. Amundi now owns 1,061,457 shares of the company's stock worth $173,378,000 after buying an additional 367,717 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.