Needham & Company LLC Reiterates Buy Rating for MongoDB (NASDAQ:MDB)

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

A number of other research firms have also recently issued reports on MDB. Truist Financial raised their price objective on MongoDB from $440.00 to $500.00 and gave the company a buy rating in a research report on Tuesday, February 20th. UBS Group reissued a neutral rating and set a $410.00 price target (down from $475.00) on shares of MongoDB in a report on Thursday, January 4th. KeyCorp dropped their price target on MongoDB from $490.00 to $440.00 and set an overweight rating for the company in a report on Thursday, April 18th. JMP Securities reissued a market outperform rating and set a $440.00 price target on shares of MongoDB in a report on Monday, January 22nd. Finally, DA Davidson raised MongoDB from a neutral rating to a buy rating and lifted their price target for the stock from $405.00 to $430.00 in a report on Friday, March 8th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $443.86.

MongoDB Stock Up 4.8 %

NASDAQ:MDB opened at $383.80 on Thursday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 4.40 and a current ratio of 4.40. The company has a market cap of $27.95 billion, a PE ratio of -154.76 and a beta of 1.19. MongoDB has a 52-week low of $215.56 and a 52-week high of $509.62. The stock has a 50-day simple moving average of $379.60 and a 200 day simple moving average of $391.08.

MongoDB (NASDAQ:MDB) last issued its quarterly 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 net margin of 10.49% and a negative return on equity of 16.22%. The company had revenue of $458.00 million for the quarter, compared to analyst estimates of $431.99 million. On average, sell-side analysts expect that MongoDB will post -2.53 EPS for the current fiscal year.

Insider Buying and Selling at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 1,000 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $404.20, for a total transaction of $404,200.00. Following the completion of the sale, the director now directly owns 527,896 shares in the company, valued at approximately $213,375,563.20. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Dwight A. Merriman sold 6,000 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $437.99, for a total value of $2,627,940.00. Following the transaction, the director now directly owns 1,168,784 shares of the company’s stock, valued at approximately $511,915,704.16. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Dwight A. Merriman sold 1,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $404.20, for a total value of $404,200.00. Following the completion of the transaction, the director now directly owns 527,896 shares in the company, valued at $213,375,563.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 91,802 shares of company stock worth $35,936,911. Insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Transcendent Capital Group LLC bought a new stake in MongoDB in the fourth quarter worth about $25,000. Blue Trust Inc. lifted its stake in MongoDB by 937.5% in the fourth quarter. Blue Trust Inc. now owns 83 shares of the company’s stock worth $34,000 after purchasing an additional 75 shares during the last quarter. BluePath Capital Management LLC bought a new stake in MongoDB in the third quarter worth about $30,000. AM Squared Ltd bought a new stake in MongoDB in the third quarter worth about $35,000. Finally, Cullen Frost Bankers Inc. bought a new stake in MongoDB in the third quarter worth about $35,000. 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.