MongoDB (NASDAQ:MDB) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of MongoDB (NASDAQ:MDB) in a research report report published on Thursday morning, Benzinga reports. The firm currently has a $465.00 price objective on the stock.

Other equities analysts also recently issued research reports about the stock. Truist Financial increased their price target on shares of MongoDB from $440.00 to $500.00 and gave the company a buy rating in a report on Tuesday, February 20th. DA Davidson upgraded shares of MongoDB from a neutral rating to a buy rating and increased their price target for the company from $405.00 to $430.00 in a report on Friday, March 8th. Redburn Atlantic restated a sell rating and set a $295.00 target price (down from $410.00) on shares of MongoDB in a report on Tuesday, March 19th. Tigress Financial raised their target price on shares of MongoDB from $495.00 to $500.00 and gave the company a buy rating in a report on Thursday, March 28th. Finally, KeyCorp dropped their target price on shares of MongoDB from $490.00 to $440.00 and set an overweight rating for the company in a report on Thursday, April 18th. Two research 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 data from MarketBeat.com, MongoDB currently has an average rating of Moderate Buy and a consensus price target of $443.86.

MongoDB Stock Performance

Shares of NASDAQ:MDB opened at $366.13 on Thursday. The firm has a fifty day moving average price of $381.23 and a 200 day moving average price of $390.50. The company has a current ratio of 4.40, a quick ratio of 4.40 and a debt-to-equity ratio of 1.07. MongoDB has a 1-year low of $215.56 and a 1-year high of $509.62.

MongoDB (NASDAQ:MDB) last issued its quarterly 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). The business had revenue of $458.00 million for the quarter, compared to analyst estimates 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 related news, Director Dwight A. Merriman sold 2,000 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $421,496,160. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Dwight A. Merriman sold 2,000 shares of MongoDB stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $365.00, for a total transaction of $730,000.00. Following the sale, the director now owns 1,154,784 shares in the company, valued at $421,496,160. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dwight A. Merriman sold 4,000 shares of MongoDB stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $341.12, for a total transaction of $1,364,480.00. Following the sale, the director now owns 1,156,784 shares in the company, valued at approximately $394,602,158.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,802 shares of company stock worth $35,936,911. Company insiders own 4.80% of the company’s stock.

Institutional Trading of MongoDB

A number of hedge funds have recently made changes to their positions in MDB. Exchange Traded Concepts LLC increased its stake in shares of MongoDB by 74.7% in the third quarter. Exchange Traded Concepts LLC now owns 3,370 shares of the company’s stock worth $1,166,000 after buying an additional 1,441 shares during the last quarter. Oak Thistle LLC bought a new stake in shares of MongoDB in the third quarter worth $259,000. Handelsbanken Fonder AB increased its stake in shares of MongoDB by 1.0% in the third quarter. Handelsbanken Fonder AB now owns 33,735 shares of the company’s stock worth $11,668,000 after buying an additional 346 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of MongoDB by 1.3% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 15,100 shares of the company’s stock worth $5,222,000 after buying an additional 200 shares during the last quarter. Finally, Accurate Wealth Management LLC bought a new stake in shares of MongoDB in the third quarter worth $251,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

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.