MongoDB (NASDAQ:MDB) Downgraded to “Equal Weight” Rating by Wells Fargo & Company

MongoDB (NASDAQ:MDB) was downgraded by investment analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Thursday,Briefing.com Automated Import reports. They currently have a $225.00 price objective on the stock, down from their prior price objective of $365.00. Wells Fargo & Company‘s price objective suggests a potential downside of 14.81% from the stock’s current price.

Several other brokerages have also recently weighed in on MDB. The Goldman Sachs Group upped their price target on shares of MongoDB from $340.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Robert W. Baird upped their price target on shares of MongoDB from $380.00 to $390.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. China Renaissance initiated coverage on shares of MongoDB in a research report on Tuesday, January 21st. They issued a “buy” rating and a $351.00 price target for the company. Stifel Nicolaus upped their price target on shares of MongoDB from $325.00 to $360.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Royal Bank of Canada upped their price target on shares of MongoDB from $350.00 to $400.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, MongoDB presently has a consensus rating of “Moderate Buy” and a consensus target price of $355.17.

MongoDB Price Performance

MongoDB stock opened at $264.13 on Thursday. The stock has a market cap of $19.67 billion, a price-to-earnings ratio of -96.40 and a beta of 1.30. MongoDB has a 1 year low of $212.74 and a 1 year high of $424.00. The firm has a 50-day moving average of $263.70 and a two-hundred day moving average of $275.28.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Monday, December 9th. The company reported $1.16 earnings per share (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 analysts’ expectations 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 company earned $0.96 EPS. Research analysts expect that MongoDB will post -1.78 earnings per share for the current year.

Insider Buying and Selling

In other MongoDB news, insider Cedric Pech sold 287 shares of the stock in a transaction on Thursday, January 2nd. The shares were 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 of the company’s stock, valued at $5,709,455.10. This trade represents a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $270.63, for a total transaction of $811,890.00. Following the transaction, the director now directly owns 1,109,006 shares in the company, valued at approximately $300,130,293.78. The trade was a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,314 shares of company stock valued at $13,337,753. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Strategic Investment Solutions Inc. IL purchased a new position in MongoDB in the fourth quarter worth approximately $29,000. Hilltop National Bank lifted its position in shares of MongoDB by 47.2% during the 4th quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after buying an additional 42 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of MongoDB during the 3rd quarter worth approximately $36,000. Continuum Advisory LLC lifted its position in shares of MongoDB by 621.1% during the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock worth $40,000 after buying an additional 118 shares during the last quarter. Finally, NCP Inc. purchased a new stake in shares of MongoDB during the 4th quarter worth approximately $35,000. 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.