Barclays Lowers MongoDB (NASDAQ:MDB) Price Target to $330.00

MongoDB (NASDAQ:MDB) had its price objective dropped by analysts at Barclays from $400.00 to $330.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 35.33% from the stock’s current price.

MDB has been the topic of several other reports. Canaccord Genuity Group increased their target price on MongoDB from $325.00 to $385.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Mizuho increased their price objective on shares of MongoDB from $275.00 to $320.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Macquarie initiated coverage on shares of MongoDB in a research report on Thursday, December 12th. They issued a “neutral” rating and a $300.00 target price for the company. Citigroup increased their price target on shares of MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Finally, Stifel Nicolaus boosted their price objective on shares of MongoDB from $325.00 to $360.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, MongoDB currently has a consensus rating of “Moderate Buy” and an average price target of $364.64.

MongoDB Price Performance

MongoDB stock traded down $4.83 during midday trading on Friday, hitting $243.85. The company’s stock had a trading volume of 619,270 shares, compared to its average volume of 1,512,057. The company has a market cap of $18.16 billion, a price-to-earnings ratio of -89.00 and a beta of 1.25. MongoDB has a 1-year low of $212.74 and a 1-year high of $509.62. The company has a 50-day moving average price of $282.39 and a two-hundred day moving average price of $269.01.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.48. The company had revenue of $529.40 million during the quarter, compared to the consensus estimate of $497.39 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 22.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.96 earnings per share. Sell-side analysts forecast that MongoDB will post -1.86 EPS for the current year.

Insider Buying and Selling at MongoDB

In other news, CAO Thomas Bull sold 1,000 shares of MongoDB stock in a transaction on Monday, December 9th. The shares were sold at an average price of $355.92, for a total value of $355,920.00. Following the completion of the sale, the chief accounting officer now owns 15,068 shares in the company, valued at $5,363,002.56. The trade was a 6.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Cedric Pech sold 287 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $67,183.83. Following the transaction, the insider now directly owns 24,390 shares in the company, valued at approximately $5,709,455.10. This represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,161 shares of company stock valued at $8,427,806. 3.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MongoDB

Institutional investors have recently made changes to their positions in the stock. Hilltop National Bank grew its position in MongoDB by 47.2% in 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 during the period. Quarry LP raised its stake in shares of MongoDB by 2,580.0% in the second quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after purchasing an additional 129 shares during the last quarter. Brooklyn Investment Group purchased a new stake in MongoDB in the 3rd quarter valued at $36,000. GAMMA Investing LLC lifted its stake in MongoDB by 178.8% during the 3rd quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock valued at $39,000 after acquiring an additional 93 shares in the last quarter. Finally, Continuum Advisory LLC boosted its holdings in MongoDB by 621.1% during the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock worth $40,000 after acquiring an additional 118 shares during 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.