KeyCorp Lowers MongoDB (NASDAQ:MDB) Price Target to $440.00

MongoDB (NASDAQ:MDB) had its price target trimmed by KeyCorp from $490.00 to $440.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other analysts have also weighed in on the stock. Stifel Nicolaus reaffirmed a buy rating and issued a $435.00 price objective on shares of MongoDB in a research note on Thursday, March 14th. DA Davidson raised shares of MongoDB from a neutral rating to a buy rating and increased their price target for the company from $405.00 to $430.00 in a research report on Friday, March 8th. Redburn Atlantic reissued a sell rating and set a $295.00 price target (down from $410.00) on shares of MongoDB in a research report on Tuesday, March 19th. Truist Financial increased their price target on shares of MongoDB from $440.00 to $500.00 and gave the company a buy rating in a research report on Tuesday, February 20th. Finally, Citigroup increased their price target on shares of MongoDB from $515.00 to $550.00 and gave the company a buy rating in a research report on Wednesday, March 6th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, MongoDB currently has an average rating of Moderate Buy and an average target price of $444.93.

MongoDB Stock Down 2.4 %

NASDAQ:MDB opened at $327.47 on Thursday. MongoDB has a 1-year low of $212.52 and a 1-year high of $509.62. The company has a 50-day moving average of $390.81 and a 200 day moving average of $390.70. The firm has a market cap of $23.85 billion, a PE ratio of -132.04 and a beta of 1.19. 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 (NASDAQ:MDB) last released its quarterly earnings data on Thursday, March 7th. The company reported ($1.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.32). MongoDB had a negative return on equity of 16.22% and a negative net margin of 10.49%. The business had revenue of $458.00 million during the quarter, compared to analysts’ expectations of $431.99 million. As a group, research analysts anticipate that MongoDB will post -2.53 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Dwight A. Merriman sold 1,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $404.20, for a total value of $404,200.00. Following the transaction, the director now owns 527,896 shares in the company, valued at approximately $213,375,563.20. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CAO Thomas Bull sold 170 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $348.12, for a total transaction of $59,180.40. Following the sale, the chief accounting officer now owns 17,360 shares of the company’s stock, valued at approximately $6,043,363.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dwight A. Merriman sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $404.20, for a total transaction of $404,200.00. Following the sale, the director now directly owns 527,896 shares in the company, valued at approximately $213,375,563.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 91,802 shares of company stock worth $35,936,911. 4.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On MongoDB

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Jennison Associates LLC grew its stake in MongoDB by 87.8% in the 3rd quarter. Jennison Associates LLC now owns 3,733,964 shares of the company’s stock valued at $1,291,429,000 after acquiring an additional 1,745,231 shares during the period. 1832 Asset Management L.P. grew its stake in MongoDB by 3,283,771.0% in the 4th quarter. 1832 Asset Management L.P. now owns 1,018,000 shares of the company’s stock valued at $200,383,000 after acquiring an additional 1,017,969 shares during the period. Norges Bank acquired a new stake in MongoDB in the 4th quarter valued at $326,237,000. Axiom Investors LLC DE acquired a new stake in MongoDB in the 4th quarter valued at $153,990,000. Finally, T. Rowe Price Investment Management Inc. grew its stake in MongoDB by 77.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 568,803 shares of the company’s stock valued at $111,964,000 after acquiring an additional 248,133 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

MongoDB Company Profile

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.