Needham & Company LLC Reaffirms “Buy” Rating for MongoDB (NASDAQ:MDB)

MongoDB (NASDAQ:MDB)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a research note issued 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 28.04% from the stock’s current price.

MDB has been the topic of several other reports. Truist Financial boosted their target price on shares of MongoDB from $440.00 to $500.00 and gave the company a “buy” rating in a report on Tuesday, February 20th. Citigroup increased their price objective on MongoDB from $515.00 to $550.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. KeyCorp reduced their price objective on shares of MongoDB from $490.00 to $440.00 and set an “overweight” rating on the stock in a report on Thursday, April 18th. Redburn Atlantic reaffirmed a “sell” rating and set a $295.00 target price (down previously from $410.00) on shares of MongoDB in a research note on Tuesday, March 19th. Finally, UBS Group reissued 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. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $443.86.

MongoDB Price Performance

MDB stock opened at $363.17 on Friday. MongoDB has a 1 year low of $215.56 and a 1 year high of $509.62. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.40 and a quick ratio of 4.40. The firm has a market capitalization of $26.45 billion, a PE ratio of -146.44 and a beta of 1.19. The business has a 50 day simple moving average of $373.33 and a 200-day simple moving average of $390.92.

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

Insider Activity at MongoDB

In other MongoDB news, CFO Michael Lawrence Gordon sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $469.84, for a total transaction of $4,698,400.00. Following the sale, the chief financial officer now owns 70,985 shares of the company’s stock, valued at $33,351,592.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Dwight A. Merriman sold 4,000 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $341.12, for a total value of $1,364,480.00. Following the transaction, the director now owns 1,156,784 shares in the company, valued at approximately $394,602,158.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael Lawrence Gordon sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $469.84, for a total value of $4,698,400.00. Following the sale, the chief financial officer now owns 70,985 shares of the company’s stock, valued at approximately $33,351,592.40. The disclosure for this sale can be found here. Insiders have sold 57,802 shares of company stock valued at $22,142,301 over the last quarter. 4.80% of the stock is owned by insiders.

Institutional Trading of MongoDB

Several hedge funds and other institutional investors have recently made changes to their positions in MDB. Vanguard Group Inc. lifted its holdings in MongoDB by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 6,842,413 shares of the company’s stock valued at $2,797,521,000 after acquiring an additional 194,148 shares during the period. Jennison Associates LLC increased its stake in shares of MongoDB by 14.3% during the 1st quarter. Jennison Associates LLC now owns 4,408,424 shares of the company’s stock valued at $1,581,037,000 after acquiring an additional 551,567 shares during the last quarter. Norges Bank acquired a new position in shares of MongoDB in the 4th quarter valued at $326,237,000. First Trust Advisors LP grew its position in MongoDB by 59.3% during the fourth quarter. First Trust Advisors LP now owns 549,052 shares of the company’s stock valued at $224,480,000 after acquiring an additional 204,284 shares during the period. Finally, Northern Trust Corp raised its holdings in MongoDB by 5.5% in the third quarter. Northern Trust Corp now owns 448,035 shares of the company’s stock valued at $154,957,000 after buying an additional 23,270 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.

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.