Stifel Nicolaus Cuts MongoDB (NASDAQ:MDB) Price Target to $340.00

MongoDB (NASDAQ:MDBGet Rating) had its target price dropped by equities researchers at Stifel Nicolaus from $425.00 to $340.00 in a research report issued to clients and investors on Thursday, The Fly reports. Stifel Nicolaus’ price target would indicate a potential upside of 40.61% from the stock’s previous close.

A number of other research analysts have also recently weighed in on the stock. Morgan Stanley dropped their price objective on shares of MongoDB from $475.00 to $378.00 and set an “overweight” rating for the company in a report on Thursday, May 19th. Needham & Company LLC lowered their target price on shares of MongoDB from $626.00 to $362.00 and set a “buy” rating for the company in a report on Wednesday, March 9th. Tigress Financial initiated coverage on shares of MongoDB in a research report on Friday, February 11th. They issued a “buy” rating and a $630.00 price target for the company. Canaccord Genuity Group cut their price objective on shares of MongoDB from $400.00 to $300.00 in a research report on Thursday. Finally, Barclays upped their price objective on shares of MongoDB from $330.00 to $338.00 in a research report on Thursday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $442.33.

NASDAQ:MDB opened at $241.81 on Thursday. The company’s 50-day moving average price is $343.10 and its 200-day moving average price is $403.96. The company has a current ratio of 4.02, a quick ratio of 4.02 and a debt-to-equity ratio of 1.70. The company has a market cap of $16.34 billion, a P/E ratio of -51.01 and a beta of 1.01. MongoDB has a twelve month low of $213.39 and a twelve month high of $590.00.

MongoDB (NASDAQ:MDBGet Rating) last posted its quarterly earnings results on Wednesday, June 1st. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of ($1.34) by $1.54. MongoDB had a negative net margin of 35.12% and a negative return on equity of 66.70%. The firm had revenue of $285.45 million for the quarter, compared to the consensus estimate of $267.10 million. During the same period last year, the firm posted ($0.98) earnings per share. The company’s revenue for the quarter was up 57.1% on a year-over-year basis. On average, analysts expect that MongoDB will post -5.48 earnings per share for the current year.

In related news, CEO Dev Ittycheria sold 35,000 shares of the stock in a transaction dated Friday, March 4th. The stock was sold at an average price of $309.78, for a total transaction of $10,842,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Cedric Pech sold 309 shares of the firm’s stock in a transaction that occurred on Monday, April 4th. The shares were sold at an average price of $443.77, for a total value of $137,124.93. Following the completion of the transaction, the executive now owns 46,135 shares of the company’s stock, valued at $20,473,328.95. The disclosure for this sale can be found here. Insiders have sold 122,809 shares of company stock worth $43,079,955 in the last ninety days. 5.70% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Northern Trust Corp lifted its stake in shares of MongoDB by 3.1% in the 4th quarter. Northern Trust Corp now owns 405,648 shares of the company’s stock valued at $214,731,000 after purchasing an additional 12,223 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in MongoDB during the 4th quarter worth approximately $200,000. TD Asset Management Inc. grew its holdings in shares of MongoDB by 153.9% in the fourth quarter. TD Asset Management Inc. now owns 525,000 shares of the company’s stock valued at $277,909,000 after acquiring an additional 318,259 shares in the last quarter. GraniteShares Advisors LLC bought a new position in shares of MongoDB in the fourth quarter valued at approximately $165,000. Finally, Kornitzer Capital Management Inc. KS bought a new position in MongoDB during the fourth quarter valued at $675,000. Institutional investors own 88.70% of the company’s stock.

About MongoDB (Get Rating)

MongoDB, Inc provides general purpose database platform worldwide. The company offers MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.

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