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

MongoDB (NASDAQ:MDB)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $465.00 target price on the stock. Needham & Company LLC’s target price suggests a potential upside of 21.16% from the company’s previous close.

A number of other equities analysts also recently weighed in on MDB. Citigroup boosted their target price on MongoDB from $515.00 to $550.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. UBS Group reiterated a “neutral” rating and issued a $410.00 price objective (down previously from $475.00) on shares of MongoDB in a research note on Thursday, January 4th. KeyCorp dropped their price objective on MongoDB from $490.00 to $440.00 and set an “overweight” rating on the stock in a research note on Thursday, April 18th. DA Davidson upgraded MongoDB from a “neutral” rating to a “buy” rating and upped their price objective for the company from $405.00 to $430.00 in a research note on Friday, March 8th. Finally, Truist Financial upped their price objective on MongoDB from $440.00 to $500.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, MongoDB has an average rating of “Moderate Buy” and a consensus price target of $443.86.

MongoDB Price Performance

Shares of NASDAQ MDB opened at $383.80 on Thursday. MongoDB has a twelve month low of $215.56 and a twelve month high of $509.62. The stock’s 50 day moving average price is $379.60 and its 200-day moving average price is $390.67. The company has a market capitalization of $27.95 billion, a PE ratio of -154.76 and a beta of 1.19. The company has a quick ratio of 4.40, a current ratio of 4.40 and a debt-to-equity ratio of 1.07.

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

Insider Transactions at MongoDB

In other news, Director Dwight A. Merriman sold 2,000 shares of the company’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $365.00, for a total value of $730,000.00. Following the transaction, the director now owns 1,154,784 shares of the company’s stock, valued at $421,496,160. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other MongoDB news, CAO Thomas Bull sold 170 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $348.12, for a total value of $59,180.40. Following the completion of the sale, the chief accounting officer now directly owns 17,360 shares in the company, valued at $6,043,363.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dwight A. Merriman sold 2,000 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $365.00, for a total transaction of $730,000.00. Following the completion of the sale, the director now owns 1,154,784 shares of the company’s stock, valued at $421,496,160. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,802 shares of company stock valued at $35,936,911. 4.80% of the stock is currently owned by company insiders.

Institutional Trading of MongoDB

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Quadrant Capital Group LLC lifted its holdings in MongoDB by 5.6% in the fourth quarter. Quadrant Capital Group LLC now owns 412 shares of the company’s stock worth $168,000 after buying an additional 22 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in MongoDB by 12.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 226 shares of the company’s stock worth $92,000 after buying an additional 25 shares during the period. Insigneo Advisory Services LLC lifted its holdings in MongoDB by 2.9% in the third quarter. Insigneo Advisory Services LLC now owns 1,070 shares of the company’s stock worth $370,000 after buying an additional 30 shares during the period. Yousif Capital Management LLC lifted its holdings in MongoDB by 3.9% in the fourth quarter. Yousif Capital Management LLC now owns 792 shares of the company’s stock worth $324,000 after buying an additional 30 shares during the period. Finally, Valley National Advisers Inc. lifted its holdings in shares of MongoDB by 5.9% during the fourth quarter. Valley National Advisers Inc. now owns 597 shares of the company’s stock valued at $244,000 after purchasing an additional 33 shares during the last quarter. 89.29% of the stock is currently owned by hedge funds and other 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.