MongoDB’s (MDB) “Buy” Rating Reiterated at Needham & Company LLC

MongoDB (NASDAQ:MDB)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a report released on Tuesday, Benzinga reports. They presently have a $465.00 target price on the stock. Needham & Company LLC’s target price would indicate a potential upside of 27.99% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Redburn Atlantic reaffirmed a “sell” rating and set a $295.00 price objective (down previously from $410.00) on shares of MongoDB in a research note on Tuesday, March 19th. KeyCorp upped their price objective on shares of MongoDB from $500.00 to $543.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. Guggenheim upped their price objective on shares of MongoDB from $250.00 to $272.00 and gave the company a “sell” rating in a research note on Monday, March 4th. Truist Financial upped their price objective on shares of MongoDB from $440.00 to $500.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. Finally, UBS Group reiterated a “neutral” rating and issued a $410.00 target price (down from $475.00) on shares of MongoDB in a report on Thursday, January 4th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $448.74.

MongoDB Trading Up 0.1 %

Shares of MongoDB stock opened at $363.32 on Tuesday. The firm has a 50-day simple moving average of $407.84 and a two-hundred day simple moving average of $390.04. The company has a market cap of $26.46 billion, a P/E ratio of -146.50 and a beta of 1.20. MongoDB has a fifty-two week low of $198.72 and a fifty-two week high of $509.62. The company has a debt-to-equity ratio of 1.07, a quick ratio of 4.40 and a current ratio of 4.40.

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

Insider Buying and Selling at MongoDB

In other MongoDB 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 sale, the chief accounting officer now directly owns 17,360 shares of the company’s stock, valued at approximately $6,043,363.20. The sale 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 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 sale, the chief accounting officer now directly owns 17,360 shares of the company’s stock, valued at approximately $6,043,363.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CRO Cedric Pech sold 4,726 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $350.00, for a total transaction of $1,654,100.00. Following the completion of the sale, the executive now directly owns 35,992 shares in the company, valued at $12,597,200. The disclosure for this sale can be found here. In the last three months, insiders have sold 92,050 shares of company stock valued at $36,126,111. Insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Moody National Bank Trust Division grew its position in shares of MongoDB by 3.2% in the 1st quarter. Moody National Bank Trust Division now owns 1,492 shares of the company’s stock valued at $535,000 after buying an additional 46 shares during the last quarter. Strategic Advocates LLC grew its position in shares of MongoDB by 17.4% in the 1st quarter. Strategic Advocates LLC now owns 1,987 shares of the company’s stock valued at $713,000 after buying an additional 295 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new position in shares of MongoDB in the 4th quarter valued at $147,000. Newbridge Financial Services Group Inc. grew its position in MongoDB by 95.0% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 895 shares of the company’s stock worth $366,000 after purchasing an additional 436 shares during the last quarter. Finally, HighPoint Advisor Group LLC purchased a new position in MongoDB during the 4th quarter worth $706,000. 89.29% of the stock is owned by hedge funds and other institutional investors.

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.