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

MongoDB (NASDAQ:MDB) had its price target dropped by equities researchers at KeyCorp from $490.00 to $440.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s price objective indicates a potential upside of 34.36% from the company’s current price.

Several other research analysts have also issued reports on the stock. DA Davidson upgraded shares of MongoDB from a “neutral” rating to a “buy” rating and raised their price target for the stock from $405.00 to $430.00 in a report on Friday, March 8th. Redburn Atlantic restated a “sell” rating and set a $295.00 price target (down previously from $410.00) on shares of MongoDB in a report on Tuesday, March 19th. Guggenheim raised their price target on shares of MongoDB from $250.00 to $272.00 and gave the stock a “sell” rating in a report on Monday, March 4th. Truist Financial raised their price target on shares of MongoDB from $440.00 to $500.00 and gave the stock a “buy” rating in a report on Tuesday, February 20th. Finally, JMP Securities restated a “market outperform” rating and set a $440.00 price target on shares of MongoDB in a report on Monday, January 22nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $444.93.

MongoDB Trading Down 2.4 %

Shares of NASDAQ MDB opened at $327.47 on Thursday. The company has a 50 day simple moving average of $390.81 and a 200 day simple moving average of $389.91. MongoDB has a 1 year low of $212.52 and a 1 year high of $509.62. The company has a current ratio of 4.40, a quick ratio of 4.40 and a debt-to-equity ratio of 1.07.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Thursday, March 7th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.32). The business had revenue of $458.00 million during the quarter, compared to the consensus estimate of $431.99 million. MongoDB had a negative net margin of 10.49% and a negative return on equity of 16.22%. Equities research analysts anticipate that MongoDB will post -2.53 EPS for the current fiscal year.

Insider Activity at MongoDB

In other MongoDB news, CAO Thomas Bull sold 170 shares of MongoDB stock in a transaction 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 transaction, the chief accounting officer now directly owns 17,360 shares of the company’s stock, valued at approximately $6,043,363.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other MongoDB news, Director Dwight A. Merriman sold 1,000 shares of MongoDB stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $420.00, for a total transaction of $420,000.00. Following the transaction, the director now directly owns 528,896 shares of the company’s stock, valued at approximately $222,136,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Thomas Bull sold 170 shares of MongoDB stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $348.12, for a total transaction of $59,180.40. Following the transaction, the chief accounting officer now directly owns 17,360 shares in the company, valued at $6,043,363.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 92,802 shares of company stock valued at $36,356,911. 4.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On MongoDB

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of MongoDB by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 6,842,413 shares of the company’s stock worth $2,797,521,000 after purchasing an additional 194,148 shares during the period. Jennison Associates LLC raised its stake in shares of MongoDB by 3.3% during the 4th quarter. Jennison Associates LLC now owns 3,856,857 shares of the company’s stock worth $1,576,876,000 after purchasing an additional 122,893 shares during the period. State Street Corp raised its stake in shares of MongoDB by 1.8% during the 1st quarter. State Street Corp now owns 1,386,773 shares of the company’s stock worth $323,280,000 after purchasing an additional 24,595 shares during the period. 1832 Asset Management L.P. raised its stake in shares of MongoDB by 3,283,771.0% during the 4th quarter. 1832 Asset Management L.P. now owns 1,018,000 shares of the company’s stock worth $200,383,000 after purchasing an additional 1,017,969 shares during the period. Finally, Geode Capital Management LLC raised its stake in MongoDB by 3.8% in the 1st quarter. Geode Capital Management LLC now owns 967,289 shares of the company’s stock valued at $225,174,000 after acquiring an additional 35,541 shares during the period. 89.29% of the stock is currently 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.