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

MongoDB (NASDAQ:MDB)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a report released on Friday, Benzinga reports. They currently have a $465.00 price target on the stock. Needham & Company LLC’s price target indicates a potential upside of 28.15% from the company’s current price.

MDB has been the subject of several other reports. Truist Financial raised their target price on shares of MongoDB from $440.00 to $500.00 and gave the stock a “buy” rating in a research report on Tuesday, February 20th. JMP Securities reaffirmed a “market outperform” rating and issued a $440.00 target price on shares of MongoDB in a research report on Monday, January 22nd. Loop Capital assumed coverage on shares of MongoDB in a research report on Tuesday, April 23rd. They set a “buy” rating and a $415.00 price target for the company. KeyCorp lowered their price target on shares of MongoDB from $490.00 to $440.00 and set an “overweight” rating for the company in a research report on Thursday, April 18th. Finally, UBS Group reissued a “neutral” rating and set a $410.00 price target (down from $475.00) on shares of MongoDB in a research report on Thursday, January 4th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $443.86.

MongoDB Trading Down 0.1 %

Shares of MDB opened at $362.85 on Friday. The stock has a market capitalization of $26.43 billion, a P/E ratio of -146.31 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. The firm has a fifty day simple moving average of $371.56 and a two-hundred day simple moving average of $391.06. MongoDB has a twelve month low of $226.10 and a twelve month high of $509.62.

MongoDB (NASDAQ:MDB) last posted its 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). MongoDB had a negative return on equity of 16.22% and a negative net margin of 10.49%. The company had revenue of $458.00 million during the quarter, compared to analysts’ expectations of $431.99 million. On average, research analysts anticipate that MongoDB will post -2.53 EPS for the current year.

Insiders Place Their Bets

In related news, Director Dwight A. Merriman sold 6,000 shares of MongoDB stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $374.95, for a total transaction of $2,249,700.00. Following the transaction, the director now directly owns 1,148,784 shares in the company, valued at $430,736,560.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Thomas Bull sold 170 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $6,043,363.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dwight A. Merriman sold 6,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $374.95, for a total transaction of $2,249,700.00. Following the completion of the sale, the director now directly owns 1,148,784 shares of the company’s stock, valued at $430,736,560.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 64,802 shares of company stock worth $24,771,151. Company insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On MongoDB

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. TFB Advisors LLC purchased a new stake in MongoDB in the 1st quarter worth approximately $321,000. BI Asset Management Fondsmaeglerselskab A S boosted its stake in MongoDB by 55.6% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,374 shares of the company’s stock worth $493,000 after purchasing an additional 491 shares during the period. Central Pacific Bank Trust Division bought a new position in MongoDB in the 1st quarter worth approximately $1,078,000. Whittier Trust Co. of Nevada Inc. boosted its stake in MongoDB by 5.6% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 13,932 shares of the company’s stock worth $4,996,000 after purchasing an additional 736 shares during the period. Finally, Whittier Trust Co. boosted its stake in MongoDB by 4.2% in the 1st quarter. Whittier Trust Co. now owns 28,380 shares of the company’s stock worth $10,178,000 after purchasing an additional 1,139 shares during the period. 89.29% of the stock is 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.