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

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

A number of other research firms have also weighed in on MDB. KeyCorp dropped their price target on shares of MongoDB from $490.00 to $440.00 and set an overweight rating on the stock in a research report on Thursday, April 18th. Tigress Financial lifted their price objective on shares of MongoDB from $495.00 to $500.00 and gave the stock a buy rating in a research report on Thursday, March 28th. Redburn Atlantic reaffirmed a sell rating and issued a $295.00 price objective (down previously from $410.00) on shares of MongoDB in a research report on Tuesday, March 19th. Truist Financial lifted their price objective 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. Finally, JMP Securities reiterated a market outperform rating and issued a $440.00 target price on shares of MongoDB in a research note on Monday, January 22nd. Two investment 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. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $443.86.

MongoDB Stock Up 4.8 %

MongoDB stock opened at $383.80 on Thursday. MongoDB has a 1-year low of $215.56 and a 1-year high of $509.62. The firm has a market capitalization of $27.95 billion, a price-to-earnings ratio of -154.76 and a beta of 1.19. The firm’s fifty day moving average price is $379.60 and its two-hundred day moving average price is $391.08. 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 (NASDAQ:MDB) last released its quarterly earnings data 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). MongoDB had a negative net margin of 10.49% and a negative return on equity of 16.22%. The business had revenue of $458.00 million during the quarter, compared to the consensus estimate of $431.99 million. On average, equities research analysts predict that MongoDB will post -2.53 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Thomas Bull sold 170 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $348.12, for a total transaction of $59,180.40. Following the transaction, the chief accounting officer now directly owns 17,360 shares of the company’s stock, valued at $6,043,363.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Michael Lawrence Gordon sold 10,000 shares of the stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 70,985 shares in the company, valued at $33,351,592.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Thomas Bull sold 170 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $348.12, for a total value of $59,180.40. Following the transaction, the chief accounting officer now owns 17,360 shares in the company, valued at approximately $6,043,363.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 91,802 shares of company stock valued at $35,936,911. Corporate insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On MongoDB

Several hedge funds have recently made changes to their positions in MDB. Yousif Capital Management LLC boosted its stake in shares of MongoDB by 12.1% during the 1st quarter. Yousif Capital Management LLC now owns 888 shares of the company’s stock valued at $318,000 after purchasing an additional 96 shares in the last quarter. YHB Investment Advisors Inc. purchased a new stake in MongoDB in the first quarter worth about $41,000. SYSTM Wealth Solutions LLC boosted its position in MongoDB by 11.8% during the 1st quarter. SYSTM Wealth Solutions LLC now owns 6,750 shares of the company’s stock valued at $2,421,000 after acquiring an additional 714 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of MongoDB by 1.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,706 shares of the company’s stock worth $4,916,000 after acquiring an additional 134 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of MongoDB by 0.7% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 14,987 shares of the company’s stock worth $5,375,000 after acquiring an additional 100 shares in the last quarter. 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.