MongoDB (NASDAQ:MDB) Receives “Buy” Rating from Needham & Company LLC

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

Several other equities research analysts also recently weighed in on the stock. Tigress Financial increased their target price on shares of MongoDB from $495.00 to $500.00 and gave the stock a buy rating in a research note on Thursday, March 28th. Redburn Atlantic reiterated a sell rating and set a $295.00 target price (down previously from $410.00) on shares of MongoDB in a research report on Tuesday, March 19th. Loop Capital started coverage on MongoDB in a report on Tuesday, April 23rd. They issued a buy rating and a $415.00 price target for the company. UBS Group restated a neutral rating and issued a $410.00 price target (down from $475.00) on shares of MongoDB in a research note on Thursday, January 4th. Finally, DA Davidson upgraded MongoDB from a neutral rating to a buy rating and lifted their price target for the company from $405.00 to $430.00 in a research note on Friday, March 8th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $443.86.

MongoDB Stock Performance

Shares of MDB traded down $0.32 during mid-day trading on Friday, hitting $362.85. 926,998 shares of the company’s stock were exchanged, compared to its average volume of 1,215,318. MongoDB has a fifty-two week low of $226.10 and a fifty-two week high of $509.62. The business’s 50 day moving average is $371.56 and its two-hundred day moving average is $390.88. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.40 and a quick ratio of 4.40.

MongoDB (NASDAQ:MDB) last announced its earnings results on Thursday, March 7th. The company reported ($1.03) earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $431.99 million. On average, analysts expect that MongoDB will post -2.53 earnings per share for the current year.

Insider Activity

In other news, CAO Thomas Bull sold 170 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $348.12, for a total value of $59,180.40. Following 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 can be accessed through this hyperlink. In related news, CAO Thomas Bull sold 170 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $348.12, for a total value of $59,180.40. Following the completion of the transaction, the chief accounting officer now directly owns 17,360 shares in the company, valued at $6,043,363.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Cedric Pech sold 1,430 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $348.11, for a total value of $497,797.30. Following the completion of the transaction, the executive now owns 45,444 shares of the company’s stock, valued at $15,819,510.84. The disclosure for this sale can be found here. Insiders have sold 64,802 shares of company stock worth $24,771,151 over the last three months. 4.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MongoDB

Several institutional investors and hedge funds have recently added to or reduced their stakes in MDB. Transcendent Capital Group LLC acquired a new stake in MongoDB during the fourth quarter worth about $25,000. BluePath Capital Management LLC purchased a new stake in shares of MongoDB in the third quarter worth about $30,000. Blue Trust Inc. boosted its position in shares of MongoDB by 937.5% in the fourth quarter. Blue Trust Inc. now owns 83 shares of the company’s stock worth $34,000 after buying an additional 75 shares during the period. Cullen Frost Bankers Inc. purchased a new stake in shares of MongoDB in the third quarter worth about $35,000. Finally, AM Squared Ltd purchased a new stake in shares of MongoDB in the third quarter worth about $35,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

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.