MongoDB (NASDAQ:MDB) Price Target Cut to $320.00 by Analysts at Royal Bank of Canada

MongoDB (NASDAQ:MDB) had its price target cut by Royal Bank of Canada from $400.00 to $320.00 in a research note released on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities research analysts also recently weighed in on MDB. Oppenheimer upped their price objective on shares of MongoDB from $350.00 to $400.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Scotiabank reaffirmed a “sector perform” rating and issued a $240.00 price objective (down previously from $275.00) on shares of MongoDB in a report on Wednesday. Loop Capital reduced their price objective on shares of MongoDB from $400.00 to $350.00 and set a “buy” rating for the company in a report on Monday. The Goldman Sachs Group upped their price objective on shares of MongoDB from $340.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $350.00 price objective on shares of MongoDB in a report on Tuesday. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $322.61.

MongoDB Stock Performance

Shares of MDB opened at $192.98 on Thursday. MongoDB has a 1 year low of $192.79 and a 1 year high of $413.87. The company has a market cap of $14.37 billion, a price-to-earnings ratio of -70.43 and a beta of 1.30. The firm has a fifty day moving average of $262.69 and a 200-day moving average of $274.71.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.45). The firm had revenue of $548.40 million for the quarter, compared to analyst estimates of $519.65 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. During the same period last year, the firm posted $0.86 EPS. Analysts predict that MongoDB will post -1.78 EPS for the current year.

Insider Buying and Selling at MongoDB

In related news, CEO Dev Ittycheria sold 2,581 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value of $604,186.29. Following the completion of the sale, the chief executive officer now owns 217,294 shares of the company’s stock, valued at approximately $50,866,352.46. The trade was a 1.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Thomas Bull sold 1,000 shares of the business’s stock in a transaction that occurred 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 directly owns 15,068 shares of the company’s stock, valued at approximately $5,363,002.56. The trade was a 6.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,314 shares of company stock valued at $13,337,753 in the last 90 days. 3.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MongoDB

Large investors have recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL bought a new stake in shares of MongoDB in the 4th quarter valued at approximately $29,000. Hilltop National Bank grew its stake in shares of 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 buying an additional 42 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of MongoDB in the 3rd quarter valued at approximately $36,000. Continuum Advisory LLC boosted its position in MongoDB by 621.1% during the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock worth $40,000 after purchasing an additional 118 shares during the period. Finally, NCP Inc. bought a new stake in MongoDB during the fourth quarter worth approximately $35,000. Institutional investors own 89.29% of the company’s stock.

MongoDB Company Profile

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.