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.

Mongodb (NASDAQ:MDB) last announced its quarterly earnings data on Tuesday, December 12th. The company reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.90). The company had revenue of $41.50 million for the quarter, compared to analyst estimates of $37.21 million. The company’s quarterly revenue was up 57.8% on a year-over-year basis. research analysts forecast that Mongodb will post -1.9 earnings per share for the current year.

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.

Analyst Recommendations for Mongodb (NASDAQ:MDB)

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