Benzinga reported noteworthy options trading activity for MongoDB, indicating a bearish outlook from large investors, often called "whales."
Analysts reviewed 11 significant options trades.
Of these, 54% were bearish, while 27% held bullish expectations.
The total value of observed bearish put options reached $62,421.
Bullish call options totaled $1,007,410.
The number of bearish trades exceeded the number of bullish trades.
This bearish options sentiment contrasts with recent professional analyst ratings.
Five market experts recently issued ratings on MongoDB.
They maintain a consensus price target of $500.
Firms including Truist Securities, Needham, and RBC Capital maintained 'Buy' or 'Outperform' ratings.
These ratings suggest a positive long-term outlook, which conflicts with the short-term sentiment expressed by large options traders.