MongoDB (NASDAQ:MDB) Given New $235.00 Price Target at Morgan Stanley

MongoDB (NASDAQ:MDB) had its price objective cut by investment analysts at Morgan Stanley from $315.00 to $235.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 47.22% from the company’s previous close.

A number of other analysts also recently weighed in on the stock. Wells Fargo & Company downgraded shares of MongoDB from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $365.00 to $225.00 in a research report on Thursday, March 6th. Citigroup dropped their target price on shares of MongoDB from $430.00 to $330.00 and set a “buy” rating on the stock in a research report on Tuesday, April 1st. Tigress Financial raised their price objective on MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Barclays reduced their price objective on MongoDB from $330.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Finally, Oppenheimer dropped their price objective on shares of MongoDB from $400.00 to $330.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, MongoDB has a consensus rating of “Moderate Buy” and an average target price of $303.97.

MongoDB Trading Up 0.7 %

MDB stock traded up $1.05 during trading on Wednesday, hitting $159.63. 386,323 shares of the company’s stock were exchanged, compared to its average volume of 1,799,709. The business has a 50-day moving average price of $215.59 and a two-hundred day moving average price of $254.53. MongoDB has a 52-week low of $140.78 and a 52-week high of $387.19. The stock has a market capitalization of $12.96 billion, a price-to-earnings ratio of -58.26 and a beta of 1.49.

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 company had revenue of $548.40 million during 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 quarter in the prior year, the company posted $0.86 earnings per share. On average, equities research analysts anticipate that MongoDB will post -1.78 earnings per share for the current fiscal year.

Insider Activity

In other MongoDB news, CAO Thomas Bull sold 301 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $173.25, for a total value of $52,148.25. Following the completion of the transaction, the chief accounting officer now directly owns 14,598 shares in the company, valued at $2,529,103.50. This represents a 2.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Srdjan Tanjga sold 525 shares of MongoDB stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total value of $90,961.50. Following 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. Over the last 90 days, insiders have sold 57,015 shares of company stock worth $13,208,285. Company insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of MongoDB by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 7,328,745 shares of the company’s stock valued at $1,706,205,000 after purchasing an additional 23,942 shares during the last quarter. Franklin Resources Inc. lifted its position in 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 acquiring an additional 181,962 shares during the last quarter. Geode Capital Management LLC lifted its stake in 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 purchasing an additional 22,106 shares during the last quarter. First Trust Advisors LP raised its holdings in MongoDB by 12.6% in the 4th quarter. First Trust Advisors LP now owns 854,906 shares of the company’s stock valued at $199,031,000 after buying an additional 95,893 shares during the last quarter. Finally, Norges Bank bought a new stake in MongoDB during the 4th quarter valued at $189,584,000. 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.