Morgan Stanley Cuts Mongodb (MDB) Price Target to $32.00

Mongodb (NASDAQ:MDB) had its target price cut by research analysts at Morgan Stanley from $33.00 to $32.00 in a note issued to investors on Tuesday, January 30th. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 6.21% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Goldman Sachs Group began coverage on Mongodb in a report on Monday, November 13th. They issued a “neutral” rating and a $30.00 price target for the company. Canaccord Genuity started coverage on Mongodb in a research report on Monday, November 13th. They set a “buy” rating and a $35.00 price objective for the company. JMP Securities started coverage on Mongodb in a research report on Monday, November 13th. They set a “market perform” rating for the company. Barclays started coverage on Mongodb in a research report on Monday, November 13th. They issued an “overweight” rating and a $38.00 price objective for the company. Finally, Zacks Investment Research raised Mongodb from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. Mongodb presently has a consensus rating of “Hold” and an average price target of $33.33.

Shares of Mongodb (NASDAQ:MDB) opened at $30.13 on Tuesday. Mongodb has a 52-week low of $24.62 and a 52-week high of $34.00.

Mongodb (NASDAQ:MDB) last released its quarterly earnings data on Tuesday, December 12th. The company reported ($1.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.90). The company had revenue of $41.50 million during the quarter, compared to analyst estimates of $37.21 million. The firm’s quarterly revenue was up 57.8% on a year-over-year basis. sell-side analysts anticipate that Mongodb will post -1.9 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MDB. Gilder Gagnon Howe & Co. LLC acquired a new stake in shares of Mongodb during the 4th quarter valued at $37,571,000. CI Investments Inc. acquired a new stake in shares of Mongodb during the 4th quarter valued at $2,226,000. Thompson Davis & CO. Inc. acquired a new position in Mongodb during the 4th quarter worth about $103,000. Essex Investment Management Co. LLC acquired a new position in Mongodb during the 4th quarter worth about $2,127,000. Finally, Brighton Jones LLC acquired a new position in Mongodb during the 4th quarter worth about $214,000. 3.18% of the stock is currently owned by institutional investors.

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Mongodb Company Profile

MongoDB, Inc is a modern, general purpose database platform. Its platform is designed to run applications at scale across a broad range of use cases in the cloud, on-premise or in a hybrid environment. Its primary subscription package is MongoDB Enterprise Advanced, which includes its proprietary database server, security, enterprise management capabilities, its graphical user interface, analytics integrations and technical support.

Analyst Recommendations for Mongodb (NASDAQ:MDB)

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