Mongodb (MDB) Lifted to “Buy” at Needham & Company LLC
Mongodb (NASDAQ:MDB) was upgraded by stock analysts at Needham & Company LLC from a “hold” rating to a “buy” rating in a report issued on Wednesday, Marketbeat Ratings reports. The brokerage presently has a $34.00 price target on the stock. Needham & Company LLC’s price objective suggests a potential upside of 20.78% from the company’s previous close. The analysts noted that the move was a valuation call.
Several other equities analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Mongodb from a “hold” rating to a “sell” rating in a research note on Wednesday. ValuEngine raised shares of Mongodb from a “sell” rating to a “hold” rating in a research note on Thursday, February 8th. Morgan Stanley reduced their price objective on shares of Mongodb from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 30th. Nomura assumed coverage on shares of Mongodb in a research note on Tuesday, January 23rd. They set a “neutral” rating and a $30.00 price objective on the stock. Finally, Canaccord Genuity assumed coverage on shares of Mongodb in a research note on Wednesday, December 13th. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. Mongodb currently has an average rating of “Hold” and a consensus price target of $33.33.
Mongodb (MDB) opened at $28.15 on Wednesday. Mongodb has a one year low of $24.62 and a one year high of $34.00.
A number of large investors have recently bought and sold shares of MDB. Union Square GP 2008 L.L.C. purchased a new position in Mongodb during the fourth quarter worth approximately $117,307,000. Gilder Gagnon Howe & Co. LLC purchased a new position in Mongodb during the fourth quarter worth approximately $37,571,000. Schf GPE LLC purchased a new position in Mongodb during the fourth quarter worth approximately $23,687,000. Wells Fargo & Company MN purchased a new position in Mongodb during the fourth quarter worth approximately $14,839,000. Finally, BlackRock Inc. purchased a new position in Mongodb during the fourth quarter worth approximately $10,042,000. 3.18% of the stock is currently owned by institutional investors.
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Mongodb Company Profile
MongoDB, Inc is a modern, general purpose database platform. Its platform is designed to run applications at scale across a broad range of use cases in the cloud, on-premise or in a hybrid environment. Its primary subscription package is MongoDB Enterprise Advanced, which includes its proprietary database server, security, enterprise management capabilities, its graphical user interface, analytics integrations and technical support.
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