Needham & Company LLC Reaffirms “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 Friday, Benzinga reports. The firm currently has a $465.00 price objective on the stock.

A number of other analysts have also recently commented on MDB. Loop Capital assumed coverage on shares of MongoDB in a research note on Tuesday, April 23rd. They issued a buy rating and a $415.00 price target for the company. JMP Securities reiterated a market outperform rating and set a $440.00 target price on shares of MongoDB in a research note on Monday, January 22nd. Redburn Atlantic reaffirmed a sell rating and set a $295.00 price target (down previously from $410.00) on shares of MongoDB in a report on Tuesday, March 19th. Tigress Financial increased their price objective on shares of MongoDB from $495.00 to $500.00 and gave the company a buy rating in a research report on Thursday, March 28th. Finally, Citigroup lifted their target price on shares of MongoDB from $515.00 to $550.00 and gave the stock a buy rating in a report on Wednesday, March 6th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, MongoDB currently has a consensus rating of Moderate Buy and an average price target of $443.86.

MongoDB Stock Performance

Shares of MDB stock opened at $365.67 on Friday. The stock has a market cap of $26.63 billion, a PE ratio of -147.45 and a beta of 1.19. The stock has a 50-day moving average of $369.85 and a 200-day moving average of $391.34. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.40 and a quick ratio of 4.40. MongoDB has a one year low of $238.99 and a one year high of $509.62.

MongoDB (NASDAQ:MDB) last released its earnings results on Thursday, March 7th. The company reported ($1.03) earnings per share (EPS) 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 company had revenue of $458.00 million during the quarter, compared to analyst estimates of $431.99 million. As a group, sell-side analysts expect that MongoDB will post -2.53 earnings per share for the current year.

Insider Activity at MongoDB

In other news, CAO Thomas Bull sold 170 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $348.12, for a total transaction of $59,180.40. Following the completion of the transaction, the chief accounting officer now owns 17,360 shares of the company’s stock, valued at $6,043,363.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Thomas Bull sold 170 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $348.12, for a total transaction of $59,180.40. Following the completion of the sale, the chief accounting officer now owns 17,360 shares of the company’s stock, valued at $6,043,363.20. 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 6,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $374.95, for a total transaction of $2,249,700.00. Following the completion of the sale, the director now owns 1,148,784 shares of the company’s stock, valued at $430,736,560.80. The disclosure for this sale can be found here. Insiders sold a total of 58,802 shares of company stock worth $22,143,211 in the last quarter. 4.80% of the stock is owned by insiders.

Hedge Funds Weigh In On MongoDB

A number of institutional investors have recently modified their holdings of the company. Raymond James & Associates raised its holdings in MongoDB by 14.2% during the fourth quarter. Raymond James & Associates now owns 60,557 shares of the company’s stock worth $24,759,000 after buying an additional 7,510 shares during the last quarter. Nordea Investment Management AB increased its holdings in MongoDB by 298.2% during the 4th quarter. Nordea Investment Management AB now owns 18,657 shares of the company’s stock worth $7,735,000 after purchasing an additional 13,972 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of MongoDB by 9.7% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,903 shares of the company’s stock valued at $658,000 after purchasing an additional 168 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of MongoDB by 1,196.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 29,215 shares of the company’s stock valued at $11,945,000 after buying an additional 26,961 shares during the last quarter. Finally, Realta Investment Advisors purchased a new stake in MongoDB in the 4th quarter valued at $212,000. 89.29% of the stock is owned by institutional investors and hedge funds.

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.