MongoDB (NASDAQ:MDB) Given New $320.00 Price Target at Royal Bank of Canada

MongoDB (NASDAQ:MDB) had its price target reduced by stock analysts at Royal Bank of Canada from $400.00 to $320.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 51.68% from the company’s current price.

Several other research analysts have also weighed in on the company. Barclays dropped their target price on MongoDB from $400.00 to $330.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. Loop Capital cut their price objective on shares of MongoDB from $400.00 to $350.00 and set a “buy” rating on the stock in a research report on Monday. Morgan Stanley decreased their target price on shares of MongoDB from $350.00 to $315.00 and set an “overweight” rating for the company in a research report on Thursday. UBS Group set a $350.00 price target on shares of MongoDB in a research note on Tuesday. Finally, Mizuho lifted their price objective on shares of MongoDB from $275.00 to $320.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat, MongoDB currently has a consensus rating of “Moderate Buy” and an average target price of $337.94.

MongoDB Price Performance

MongoDB stock traded down $53.15 during trading hours on Thursday, hitting $210.98. The company had a trading volume of 3,311,937 shares, compared to its average volume of 1,614,067. MongoDB has a fifty-two week low of $200.36 and a fifty-two week high of $424.00. The firm has a market capitalization of $15.71 billion, a P/E ratio of -77.00 and a beta of 1.30. The firm’s fifty day moving average is $263.70 and its 200-day moving average is $275.28.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company had revenue of $548.40 million during the quarter, compared to analyst estimates of $519.65 million. During the same period last year, the company posted $0.86 earnings per share. Analysts anticipate that MongoDB will post -1.78 earnings per share for the current year.

Insider Activity at MongoDB

In other news, Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $270.63, for a total value of $811,890.00. Following the completion of the transaction, the director now directly owns 1,109,006 shares of the company’s stock, valued at approximately $300,130,293.78. This represents a 0.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Cedric Pech sold 287 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value of $67,183.83. Following the transaction, the insider now owns 24,390 shares of the company’s stock, valued at $5,709,455.10. This trade represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,314 shares of company stock worth $13,337,753. 3.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Strategic Investment Solutions Inc. IL bought a new stake in shares of MongoDB in the 4th quarter worth about $29,000. Hilltop National Bank boosted its position in MongoDB by 47.2% in the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock valued at $30,000 after buying an additional 42 shares in the last quarter. NCP Inc. bought a new stake in MongoDB during the fourth quarter worth about $35,000. Brooklyn Investment Group acquired a new stake in shares of MongoDB during the third quarter worth approximately $36,000. Finally, Continuum Advisory LLC raised its stake in shares of MongoDB by 621.1% in the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after acquiring an additional 118 shares during the last quarter. 89.29% of the stock is owned by 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.