Barclays Cuts MongoDB (NASDAQ:MDB) Price Target to $280.00

MongoDB (NASDAQ:MDB) had its target price dropped by Barclays from $330.00 to $280.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 33.74% from the company’s previous close.

A number of other brokerages have also weighed in on MDB. Macquarie initiated coverage on MongoDB in a research note on Thursday, December 12th. They set a “neutral” rating and a $300.00 price target on the stock. Monness Crespi & Hardt upgraded shares of MongoDB from a “sell” rating to a “neutral” rating in a research note on Monday. Wells Fargo & Company lowered 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 note on Thursday. Guggenheim upgraded shares of MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 price objective for the company in a research note on Monday, January 6th. Finally, UBS Group set a $350.00 target price on MongoDB in a research report on Tuesday. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $331.65.

MongoDB Stock Performance

NASDAQ:MDB traded down $54.77 during midday trading on Thursday, reaching $209.36. 3,662,394 shares of the stock traded hands, compared to its average volume of 1,615,806. The stock has a market capitalization of $15.59 billion, a PE ratio of -76.92 and a beta of 1.30. MongoDB has a 12-month low of $200.36 and a 12-month high of $424.00. The business has a 50-day moving average of $263.70 and a two-hundred day moving average of $275.28.

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

Insider Buying and Selling at MongoDB

In other MongoDB news, CAO Thomas Bull sold 169 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 $39,561.21. Following the transaction, the chief accounting officer now directly owns 14,899 shares of the company’s stock, valued at $3,487,706.91. This trade represents a 1.12 % 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, insider Cedric Pech sold 287 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $67,183.83. Following the sale, the insider now directly owns 24,390 shares of the company’s stock, valued at $5,709,455.10. This represents a 1.16 % decrease in their position. 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. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL purchased a new stake in shares of MongoDB during the fourth quarter worth $29,000. Hilltop National Bank lifted its stake in MongoDB by 47.2% in the 4th quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after purchasing an additional 42 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of MongoDB during the 3rd quarter worth approximately $36,000. Continuum Advisory LLC grew its position in shares of MongoDB by 621.1% in the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after purchasing an additional 118 shares in the last quarter. Finally, NCP Inc. acquired a new stake in shares of MongoDB in the fourth quarter valued at approximately $35,000. 89.29% of the stock is owned by institutional investors and hedge funds.

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.