MongoDB (NASDAQ:MDB) PT Lowered to $440.00 at KeyCorp

MongoDB (NASDAQ:MDB) had its price objective lowered by equities researchers at KeyCorp from $490.00 to $440.00 in a report released on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s price objective suggests a potential upside of 34.36% from the company’s previous close.

MDB has been the topic of several other reports. JMP Securities restated a “market outperform” rating and set a $440.00 price target on shares of MongoDB in a research report on Monday, January 22nd. Tigress Financial lifted their price target on MongoDB from $495.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Guggenheim lifted their price target on MongoDB from $250.00 to $272.00 and gave the company a “sell” rating in a research report on Monday, March 4th. Needham & Company LLC restated a “buy” rating and set a $465.00 price target on shares of MongoDB in a research report on Tuesday, April 9th. Finally, DA Davidson upgraded MongoDB from a “neutral” rating to a “buy” rating and lifted their price target for the company from $405.00 to $430.00 in a research report on Friday, March 8th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $444.93.

MongoDB Price Performance

MDB opened at $327.47 on Thursday. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.40 and a quick ratio of 4.40. MongoDB has a 52-week low of $212.52 and a 52-week high of $509.62. The stock’s 50 day moving average price is $390.81 and its 200-day moving average price is $389.91.

MongoDB (NASDAQ:MDB) last posted its earnings results on Thursday, March 7th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.71) by ($0.32). MongoDB had a negative net margin of 10.49% and a negative return on equity of 16.22%. The business had revenue of $458.00 million for the quarter, compared to analysts’ expectations of $431.99 million. Analysts forecast that MongoDB will post -2.53 EPS for the current year.

Insider Activity

In other news, Director Dwight A. Merriman sold 1,000 shares of the company’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $420.00, for a total transaction of $420,000.00. Following the transaction, the director now directly owns 528,896 shares of the company’s stock, valued at $222,136,320. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CAO Thomas Bull sold 170 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $348.12, for a total transaction of $59,180.40. Following the completion of the sale, the chief accounting officer now owns 17,360 shares in the company, valued at $6,043,363.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dwight A. Merriman sold 1,000 shares of the company’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $420.00, for a total value of $420,000.00. Following the sale, the director now owns 528,896 shares of the company’s stock, valued at approximately $222,136,320. The disclosure for this sale can be found here. Insiders have sold a total of 92,802 shares of company stock valued at $36,356,911 over the last ninety days. 4.80% of the stock is currently owned by corporate insiders.

Institutional Trading of MongoDB

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in MongoDB by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 6,842,413 shares of the company’s stock valued at $2,797,521,000 after acquiring an additional 194,148 shares during the last quarter. Jennison Associates LLC increased its position in MongoDB by 3.3% in the fourth quarter. Jennison Associates LLC now owns 3,856,857 shares of the company’s stock worth $1,576,876,000 after buying an additional 122,893 shares in the last quarter. State Street Corp increased its position in MongoDB by 1.8% in the first quarter. State Street Corp now owns 1,386,773 shares of the company’s stock worth $323,280,000 after buying an additional 24,595 shares in the last quarter. 1832 Asset Management L.P. increased its position in MongoDB by 3,283,771.0% in the fourth quarter. 1832 Asset Management L.P. now owns 1,018,000 shares of the company’s stock worth $200,383,000 after buying an additional 1,017,969 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in MongoDB by 3.8% in the first quarter. Geode Capital Management LLC now owns 967,289 shares of the company’s stock worth $225,174,000 after buying an additional 35,541 shares in the last quarter. Hedge funds and other institutional investors 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.