MongoDB (NASDAQ:MDB) Downgraded by Wall Street Zen to Hold

MongoDB (NASDAQ:MDB) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Friday.

A number of other research analysts have also recently weighed in on MDB. Macquarie lifted their price target on shares of MongoDB from $265.00 to $305.00 and gave the company a “neutral” rating in a research report on Thursday, September 18th. DA Davidson raised their target price on shares of MongoDB from $365.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Royal Bank Of Canada lifted their target price on shares of MongoDB from $350.00 to $405.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. Needham & Company LLC increased their price target on MongoDB from $325.00 to $365.00 and gave the company a “buy” rating in a report on Friday, September 19th. Finally, Wells Fargo & Company started coverage on MongoDB in a research report on Tuesday, September 30th. They issued an “overweight” rating and a $430.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $355.39.

MongoDB Price Performance

Shares of NASDAQ:MDB opened at $332.81 on Friday. The business has a 50-day moving average of $333.41 and a two-hundred day moving average of $266.90. The firm has a market capitalization of $27.08 billion, a PE ratio of -339.60 and a beta of 1.52. MongoDB has a 12 month low of $140.78 and a 12 month high of $385.44.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Tuesday, August 26th. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of $0.66 by ($1.04). The firm had revenue of $591.40 million during the quarter, compared to analyst estimates of $553.23 million. MongoDB had a negative net margin of 3.54% and a negative return on equity of 1.67%. The business’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 earnings per share. As a group, research analysts anticipate that MongoDB will post -1.78 earnings per share for the current year.

Insider Buying and Selling

In other MongoDB news, Director Charles M. Hazard, Jr. sold 833 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $383.72, for a total transaction of $319,638.76. Following the transaction, the director directly owned 45,700 shares in the company, valued at $17,536,004. This represents a 1.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Peter Thomas Killalea sold 20,000 shares of the firm’s stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $321.87, for a total transaction of $6,437,400.00. Following the transaction, the director directly owned 32,293 shares of the company’s stock, valued at approximately $10,394,147.91. This represents a 38.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 91,172 shares of company stock worth $29,794,336. Insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Cetera Investment Advisers increased its holdings in shares of MongoDB by 35.7% in the 1st quarter. Cetera Investment Advisers now owns 19,424 shares of the company’s stock valued at $3,407,000 after acquiring an additional 5,108 shares during the last quarter. LPL Financial LLC boosted its holdings in MongoDB by 30.4% in the first quarter. LPL Financial LLC now owns 47,830 shares of the company’s stock worth $8,389,000 after purchasing an additional 11,160 shares during the period. Federated Hermes Inc. acquired a new stake in shares of MongoDB during the first quarter worth $1,759,000. Banque Cantonale Vaudoise acquired a new stake in shares of MongoDB during the first quarter worth $548,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of MongoDB by 22.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,367 shares of the company’s stock worth $415,000 after buying an additional 435 shares during the last quarter. 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.