MongoDB (NASDAQ:MDB) Downgraded by Monness Crespi & Hardt to “Sell”

Monness Crespi & Hardt downgraded shares of MongoDB (NASDAQ:MDB) from a neutral rating to a sell rating in a research note published on Monday, Marketbeat reports. The brokerage currently has $220.00 price objective on the stock.

A number of other equities research analysts have also recently issued reports on MDB. Citigroup boosted their target price on shares of MongoDB from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Oppenheimer raised their target price on MongoDB from $350.00 to $400.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Bank of America upped their price target on MongoDB from $300.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, August 30th. JMP Securities restated a “market outperform” rating and issued a $380.00 price objective on shares of MongoDB in a research report on Wednesday, December 11th. Finally, Canaccord Genuity Group boosted their price objective on shares of MongoDB from $325.00 to $385.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, MongoDB currently has a consensus rating of “Moderate Buy” and a consensus price target of $366.14.

MongoDB Price Performance

Shares of NASDAQ MDB opened at $252.67 on Monday. The stock has a market capitalization of $18.66 billion, a PE ratio of -92.21 and a beta of 1.17. MongoDB has a one year low of $212.74 and a one year high of $509.62. The business’s fifty day moving average price is $292.95 and its 200-day moving average price is $267.40.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Monday, December 9th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.68 by $0.48. The business had revenue of $529.40 million for the quarter, compared to the consensus estimate of $497.39 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The company’s revenue was up 22.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.96 earnings per share. As a group, equities analysts expect that MongoDB will post -2.29 EPS for the current fiscal year.

Insider Buying and Selling at MongoDB

In other news, CAO Thomas Bull sold 154 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total transaction of $39,462.50. Following the completion of the sale, the chief accounting officer now owns 16,068 shares of the company’s stock, valued at approximately $4,117,425. This represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total transaction of $768,750.00. Following the completion of the transaction, the director now directly owns 1,131,006 shares in the company, valued at approximately $289,820,287.50. The trade was a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,600 shares of company stock worth $8,951,099 over the last three months. Company insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

A number of institutional investors have recently modified their holdings of MDB. Nisa Investment Advisors LLC increased its position in MongoDB by 3.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the company’s stock valued at $295,000 after purchasing an additional 40 shares during the period. Taylor Frigon Capital Management LLC raised its stake in MongoDB by 0.4% in the second quarter. Taylor Frigon Capital Management LLC now owns 9,903 shares of the company’s stock worth $2,475,000 after buying an additional 42 shares in the last quarter. Tanager Wealth Management LLP lifted its holdings in MongoDB by 4.7% in the third quarter. Tanager Wealth Management LLP now owns 957 shares of the company’s stock worth $259,000 after buying an additional 43 shares during the period. Fifth Third Bancorp boosted its position in MongoDB by 7.6% during the 2nd quarter. Fifth Third Bancorp now owns 620 shares of the company’s stock valued at $155,000 after acquiring an additional 44 shares in the last quarter. Finally, Rakuten Securities Inc. grew its holdings in shares of MongoDB by 16.5% during the 3rd quarter. Rakuten Securities Inc. now owns 332 shares of the company’s stock worth $90,000 after acquiring an additional 47 shares during the period. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

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.