MongoDB (NASDAQ:MDB) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of MongoDB (NASDAQ:MDB) in a research report report published on Thursday morning, Benzinga reports. They currently have a $290.00 price objective on the stock.

A number of other research analysts have also commented on MDB. Canaccord Genuity Group reduced their price target on shares of MongoDB from $435.00 to $325.00 and set a buy rating for the company in a research report on Friday, May 31st. Redburn Atlantic restated a sell rating and issued a $295.00 target price (down from $410.00) on shares of MongoDB in a research note on Tuesday, March 19th. Guggenheim upgraded MongoDB from a sell rating to a neutral rating in a research report on Monday, June 3rd. Citigroup decreased their price objective on shares of MongoDB from $480.00 to $350.00 and set a buy rating on the stock in a research report on Monday, June 3rd. Finally, KeyCorp dropped their target price on shares of MongoDB from $490.00 to $440.00 and set an overweight rating for the company in a research report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, MongoDB presently has a consensus rating of Moderate Buy and a consensus target price of $364.11.

MongoDB Price Performance

MDB stock opened at $227.00 on Thursday. The firm has a 50 day moving average of $328.23 and a 200-day moving average of $378.60. The firm has a market capitalization of $16.65 billion, a P/E ratio of -80.78 and a beta of 1.13. MongoDB has a 12 month low of $217.95 and a 12 month high of $509.62. The company has a current ratio of 4.93, a quick ratio of 4.93 and a debt-to-equity ratio of 0.90.

Insider Buying and Selling

In other MongoDB news, CRO Cedric Pech sold 1,430 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $348.11, for a total value of $497,797.30. Following the completion of the transaction, the executive now directly owns 45,444 shares in the company, valued at approximately $15,819,510.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Dwight A. Merriman sold 1,000 shares of MongoDB stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $379.15, for a total transaction of $379,150.00. Following the sale, the director now directly owns 522,896 shares in the company, valued at $198,256,018.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Cedric Pech sold 1,430 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $348.11, for a total value of $497,797.30. Following the completion of the transaction, the executive now owns 45,444 shares of the company’s stock, valued at approximately $15,819,510.84. The disclosure for this sale can be found here. Insiders sold 48,802 shares of company stock valued at $16,982,551 over the last quarter. 3.60% of the stock is owned by company insiders.

Institutional Trading of MongoDB

Hedge funds and other institutional investors have recently modified their holdings of the business. Transcendent Capital Group LLC purchased a new stake in MongoDB in the fourth quarter worth about $25,000. Blue Trust Inc. grew its stake in shares of MongoDB by 937.5% in the 4th quarter. Blue Trust Inc. now owns 83 shares of the company’s stock worth $34,000 after buying an additional 75 shares during the last quarter. YHB Investment Advisors Inc. bought a new position in MongoDB during the 1st quarter valued at approximately $41,000. Parkside Financial Bank & Trust raised its stake in MongoDB by 38.3% during the third quarter. Parkside Financial Bank & Trust now owns 130 shares of the company’s stock valued at $45,000 after buying an additional 36 shares during the last quarter. Finally, Beacon Capital Management LLC boosted its holdings in MongoDB by 1,111.1% in the fourth quarter. Beacon Capital Management LLC now owns 109 shares of the company’s stock worth $45,000 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.