MongoDB (NASDAQ:MDB) Rating Reiterated by Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of MongoDB (NASDAQ:MDB) in a research note released on Friday, Benzinga reports. The firm currently has a $465.00 price objective on the stock.

Other analysts also recently issued research reports about the company. Guggenheim lifted their price objective on MongoDB from $250.00 to $272.00 and gave the stock a sell rating in a research note on Monday, March 4th. Tigress Financial boosted their price target on shares of MongoDB from $495.00 to $500.00 and gave the stock a buy rating in a research report on Thursday, March 28th. Citigroup increased their price objective on shares of MongoDB from $515.00 to $550.00 and gave the company a buy rating in a research report on Wednesday, March 6th. KeyCorp decreased their target price on shares of MongoDB from $490.00 to $440.00 and set an overweight rating on the stock in a research report on Thursday, April 18th. Finally, Truist Financial lifted their price target on MongoDB from $440.00 to $500.00 and gave the stock a buy rating in a research report on Tuesday, February 20th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, MongoDB has an average rating of Moderate Buy and a consensus target price of $443.86.

MongoDB Price Performance

MDB stock opened at $365.67 on Friday. The company has a market capitalization of $26.63 billion, a PE ratio of -147.45 and a beta of 1.19. The company’s fifty day moving average price is $369.85 and its 200-day moving average price is $391.34. MongoDB has a one year low of $238.99 and a one year high of $509.62. The company has a debt-to-equity ratio of 1.07, a quick ratio of 4.40 and a current ratio of 4.40.

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

Insider Activity at MongoDB

In other MongoDB news, CRO Cedric Pech sold 1,430 shares of MongoDB stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $348.11, for a total transaction of $497,797.30. Following the completion of the sale, the executive now directly owns 45,444 shares of the company’s stock, valued at approximately $15,819,510.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other MongoDB news, CRO Cedric Pech sold 1,430 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $348.11, for a total transaction of $497,797.30. Following the transaction, the executive now directly owns 45,444 shares in the company, valued at approximately $15,819,510.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Thomas Bull sold 170 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $348.12, for a total transaction of $59,180.40. Following the completion of the sale, the chief accounting officer now owns 17,360 shares of the company’s stock, valued at approximately $6,043,363.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 58,802 shares of company stock worth $22,143,211. Company insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MDB. Transcendent Capital Group LLC bought a new stake in MongoDB during the fourth quarter valued at about $25,000. BluePath Capital Management LLC bought a new stake in shares of MongoDB in the 3rd quarter valued at about $30,000. Blue Trust Inc. grew its position in shares of MongoDB by 937.5% in the 4th quarter. Blue Trust Inc. now owns 83 shares of the company’s stock worth $34,000 after buying an additional 75 shares during the last quarter. Cullen Frost Bankers Inc. bought a new position in shares of MongoDB during the 3rd quarter worth approximately $35,000. Finally, AM Squared Ltd acquired a new stake in MongoDB in the third quarter valued at approximately $35,000. 89.29% of the stock is currently owned by hedge funds and other 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.