MongoDB (NASDAQ:MDB) PT Lowered to $556.00 at Barclays

MongoDB (NASDAQ:MDB) had its target price trimmed by Barclays from $590.00 to $556.00 in a research report sent to investors on Wednesday morning, The Fly reports.

Other analysts have also issued research reports about the company. Piper Sandler raised their price target on MongoDB from $525.00 to $585.00 and gave the stock an overweight rating in a research note on Tuesday, December 7th. Citigroup raised their price objective on MongoDB from $526.00 to $660.00 and gave the company a buy rating in a research report on Tuesday, December 7th. The Goldman Sachs Group lifted their price target on MongoDB from $475.00 to $545.00 and gave the stock a buy rating in a research report on Wednesday, December 8th. Morgan Stanley lifted their price target on MongoDB from $525.00 to $633.00 and gave the stock an overweight rating in a research report on Thursday, December 16th. Finally, Stifel Nicolaus lifted their price target on MongoDB from $495.00 to $550.00 and gave the stock a buy rating in a research report on Tuesday, December 7th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Buy and an average price target of $542.13.

Shares of MongoDB stock opened at $396.89 on Wednesday. The company has a current ratio of 4.75, a quick ratio of 4.75 and a debt-to-equity ratio of 1.71. The company’s 50-day moving average price is $506.09 and its 200-day moving average price is $454.83. The company has a market cap of $26.49 billion, a price-to-earnings ratio of -83.91 and a beta of 0.65. MongoDB has a 12-month low of $238.01 and a 12-month high of $590.00.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Monday, December 6th. The company reported ($0.11) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.38) by $0.27. MongoDB had a negative net margin of 38.32% and a negative return on equity of 101.71%. The company had revenue of $226.89 million for the quarter, compared to analysts’ expectations of $205.18 million. During the same period in the prior year, the business earned ($0.98) earnings per share. MongoDB’s revenue for the quarter was up 50.5% compared to the same quarter last year. On average, sell-side analysts predict that MongoDB will post -4.56 earnings per share for the current year.

In other news, CRO Cedric Pech sold 290 shares of the business’s stock in a transaction that occurred on Monday, January 3rd. The stock was sold at an average price of $515.05, for a total transaction of $149,364.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Charles M. Hazard, Jr. sold 1,667 shares of the business’s stock in a transaction that occurred on Monday, January 3rd. The shares were sold at an average price of $487.14, for a total value of $812,062.38. The disclosure for this sale can be found here. Insiders have sold a total of 114,506 shares of company stock worth $55,874,990 over the last ninety days. Insiders own 7.40% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. grew its position in shares of MongoDB by 5.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,966 shares of the company’s stock worth $1,072,000 after buying an additional 152 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of MongoDB by 15.1% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 9,995 shares of the company’s stock worth $3,613,000 after purchasing an additional 1,313 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its stake in shares of MongoDB by 76.3% during the 2nd quarter. O Shaughnessy Asset Management LLC now owns 855 shares of the company’s stock worth $309,000 after purchasing an additional 370 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of MongoDB by 24.3% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 9,847 shares of the company’s stock worth $3,565,000 after purchasing an additional 1,926 shares during the last quarter. Finally, Gulf International Bank UK Ltd lifted its stake in shares of MongoDB by 3.3% during the 2nd quarter. Gulf International Bank UK Ltd now owns 10,357 shares of the company’s stock worth $3,744,000 after purchasing an additional 327 shares during the last quarter. 87.90% of the stock is currently owned by institutional investors.

MongoDB Company Profile

MongoDB, Inc engages in the development and provision of a general purpose database platform. The firm’s products include MongoDB Enterprise Advanced, MongoDB Atlas and Community Server. It also offers professional services including consulting and training. The company was founded by Eliot Horowitz, Dwight A.

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