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

Needham & Company LLC restated their buy rating on shares of MongoDB (NASDAQ:MDB) in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has a $465.00 target price on the stock.

MDB has been the topic of several other research reports. Truist Financial raised their price objective on MongoDB from $440.00 to $500.00 and gave the stock a buy rating in a research note on Tuesday, February 20th. Citigroup boosted their price objective on MongoDB from $515.00 to $550.00 and gave the company a buy rating in a research report on Wednesday, March 6th. Redburn Atlantic reiterated a sell rating and set a $295.00 target price (down previously from $410.00) on shares of MongoDB in a research report on Tuesday, March 19th. Stifel Nicolaus reaffirmed a buy rating and set a $435.00 price objective on shares of MongoDB in a report on Thursday, March 14th. Finally, UBS Group reissued a neutral rating and issued a $410.00 target price (down previously from $475.00) on shares of MongoDB in a report on Thursday, January 4th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $443.86.

MongoDB Stock Up 0.8 %

Shares of MDB stock traded up $2.82 during mid-day trading on Friday, hitting $365.67. The company’s stock had a trading volume of 971,138 shares, compared to its average volume of 1,362,091. The company has a debt-to-equity ratio of 1.07, a quick ratio of 4.40 and a current ratio of 4.40. MongoDB has a 52-week low of $238.99 and a 52-week high of $509.62. The stock has a market cap of $26.63 billion, a price-to-earnings ratio of -146.31 and a beta of 1.19. The business has a 50-day moving average price of $371.56 and a 200 day moving average price of $391.28.

MongoDB (NASDAQ:MDB) last posted its earnings results on Thursday, March 7th. The company reported ($1.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.32). MongoDB had a negative return on equity of 16.22% and a negative net margin of 10.49%. The company had revenue of $458.00 million during the quarter, compared to the consensus estimate of $431.99 million. Research analysts predict that MongoDB will post -2.53 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Dwight A. Merriman sold 4,000 shares of MongoDB stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $341.12, for a total value of $1,364,480.00. Following the completion of the sale, the director now directly owns 1,156,784 shares in the company, valued at approximately $394,602,158.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other MongoDB news, CAO Thomas Bull sold 170 shares of MongoDB stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 17,360 shares in the company, valued at approximately $6,043,363.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Dwight A. Merriman sold 4,000 shares of the company’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $341.12, for a total transaction of $1,364,480.00. Following the completion of the sale, the director now directly owns 1,156,784 shares in the company, valued at $394,602,158.08. The disclosure for this sale can be found here. Insiders have sold a total of 58,802 shares of company stock worth $22,143,211 in the last ninety days. 4.80% of the stock is owned by insiders.

Institutional Trading of MongoDB

Hedge funds have recently modified their holdings of the stock. Raymond James & Associates grew its position in MongoDB by 14.2% during the fourth quarter. Raymond James & Associates now owns 60,557 shares of the company’s stock valued at $24,759,000 after buying an additional 7,510 shares during the period. Nordea Investment Management AB raised its stake in shares of 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 buying an additional 13,972 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its position in shares of MongoDB by 9.7% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,903 shares of the company’s stock valued at $658,000 after buying an additional 168 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in MongoDB by 1,196.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 29,215 shares of the company’s stock worth $11,945,000 after acquiring an additional 26,961 shares in the last quarter. Finally, Realta Investment Advisors purchased a new position in MongoDB during the fourth quarter valued at $212,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

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.