MongoDB (NASDAQ:MDB) Cut to Sell at Monness Crespi & Hardt

Monness Crespi & Hardt cut shares of MongoDB (NASDAQ:MDB) from a neutral rating to a sell rating in a report issued on Monday, Marketbeat.com reports. The brokerage currently has $220.00 price target on the stock.

MDB has been the subject of several other reports. Truist Financial reiterated a “buy” rating and issued a $400.00 target price (up from $320.00) on shares of MongoDB in a research report on Tuesday, December 10th. Mizuho lifted their target price on shares of MongoDB from $275.00 to $320.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Loop Capital upped their price target on shares of MongoDB from $315.00 to $400.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. KeyCorp lifted their price target on shares of MongoDB from $330.00 to $375.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, Stifel Nicolaus boosted their price objective on shares of MongoDB from $325.00 to $360.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $366.14.

MongoDB Stock Performance

MongoDB stock opened at $252.67 on Monday. MongoDB has a 52 week low of $212.74 and a 52 week high of $509.62. The stock has a market capitalization of $18.66 billion, a P/E ratio of -92.21 and a beta of 1.17. The stock has a fifty day moving average of $292.95 and a 200-day moving average of $267.40.

MongoDB (NASDAQ:MDB) last issued its earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.68 by $0.48. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The firm had revenue of $529.40 million during the quarter, compared to the consensus estimate of $497.39 million. During the same quarter in the previous year, the firm earned $0.96 earnings per share. The business’s quarterly revenue was up 22.3% on a year-over-year basis. On average, research analysts forecast that MongoDB will post -2.29 earnings per share for the current year.

Insider Transactions at MongoDB

In related news, CAO Thomas Bull sold 154 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total value of $39,462.50. Following the sale, the chief accounting officer now owns 16,068 shares in the company, valued at $4,117,425. This represents a 0.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Michael Lawrence Gordon sold 5,000 shares of MongoDB stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $290.31, for a total value of $1,451,550.00. Following the transaction, the chief financial officer now owns 80,307 shares of the company’s stock, valued at $23,313,925.17. This trade represents a 5.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,600 shares of company stock valued at $8,951,099 over the last ninety days. 3.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On MongoDB

Several large investors have recently bought and sold shares of the stock. MFA Wealth Advisors LLC purchased a new position in shares of MongoDB in the 2nd quarter worth approximately $25,000. Quarry LP lifted its holdings in MongoDB by 2,580.0% during the second quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after acquiring an additional 129 shares during the period. Hantz Financial Services Inc. purchased a new position in MongoDB in the second quarter worth $35,000. Brooklyn Investment Group purchased a new stake in shares of MongoDB during the 3rd quarter valued at $36,000. Finally, GAMMA Investing LLC raised its stake in shares of MongoDB by 178.8% during the 3rd quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock worth $39,000 after purchasing an additional 93 shares during the period. 89.29% of the stock is currently owned by institutional investors.

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.