Scotiabank Lowers MongoDB (NASDAQ:MDB) Price Target to $275.00

MongoDB (NASDAQ:MDB) had its price target trimmed by Scotiabank from $350.00 to $275.00 in a research note published on Tuesday,Benzinga reports. The firm currently has a sector perform rating on the stock.

Other research analysts also recently issued research reports about the stock. The Goldman Sachs Group boosted 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. Tigress Financial lifted 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. Robert W. Baird increased their target price on shares of MongoDB from $380.00 to $390.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. DA Davidson boosted their price target on MongoDB from $340.00 to $405.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Mizuho raised their price target on shares of MongoDB from $275.00 to $320.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, MongoDB currently has a consensus rating of “Moderate Buy” and an average price target of $361.00.

MongoDB Stock Performance

MDB opened at $260.62 on Tuesday. The business’s fifty day moving average is $275.99 and its two-hundred day moving average is $268.99. The company has a market cap of $19.41 billion, a price-to-earnings ratio of -95.12 and a beta of 1.25. MongoDB has a one year low of $212.74 and a one year high of $509.62.

MongoDB (NASDAQ:MDB) last posted its earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.68 by $0.48. The company had revenue of $529.40 million during the quarter, compared to analyst estimates of $497.39 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The business’s revenue was up 22.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.96 earnings per share. On average, analysts predict that MongoDB will post -1.79 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Thomas Bull sold 1,000 shares of MongoDB stock in a transaction on Monday, December 9th. The stock was 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 of the company’s stock, valued at $5,363,002.56. The trade was a 6.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $269.57, for a total value of $808,710.00. Following the completion of the transaction, the director now directly owns 1,127,006 shares in the company, valued at $303,807,007.42. This trade represents a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,156 shares of company stock valued at $9,220,473. 3.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC raised its stake in shares of MongoDB by 3.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the company’s stock worth $295,000 after buying an additional 40 shares in the last quarter. Hilltop National Bank raised its stake in MongoDB by 47.2% during 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. Tanager Wealth Management LLP grew its stake in MongoDB by 4.7% during the 3rd quarter. Tanager Wealth Management LLP now owns 957 shares of the company’s stock valued at $259,000 after acquiring an additional 43 shares in the last quarter. Rakuten Securities Inc. grew its position in MongoDB by 16.5% during the third quarter. Rakuten Securities Inc. now owns 332 shares of the company’s stock valued at $90,000 after purchasing an additional 47 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC increased its stake in shares of MongoDB by 5.2% in the third quarter. Prime Capital Investment Advisors LLC now owns 1,190 shares of the company’s stock worth $322,000 after acquiring an additional 59 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.