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

MongoDB (NASDAQ:MDB)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a report released on Friday, Benzinga reports. They presently have a $465.00 target price on the stock. Needham & Company LLC’s target price points to a potential upside of 28.15% from the stock’s current price.

MDB has been the subject of several other research reports. UBS Group restated a “neutral” rating and issued a $410.00 price target (down previously from $475.00) on shares of MongoDB in a report on Thursday, January 4th. Redburn Atlantic reiterated a “sell” rating and set a $295.00 target price (down previously from $410.00) on shares of MongoDB in a report on Tuesday, March 19th. Stifel Nicolaus reiterated a “buy” rating and set a $435.00 target price on shares of MongoDB in a report on Thursday, March 14th. KeyCorp decreased their target price on MongoDB from $490.00 to $440.00 and set an “overweight” rating for the company in a report on Thursday, April 18th. Finally, Tigress Financial boosted their target price on MongoDB from $495.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Two equities 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $443.86.

MongoDB Stock Down 0.1 %

MDB opened at $362.85 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.40 and a quick ratio of 4.40. The stock has a market capitalization of $26.43 billion, a price-to-earnings ratio of -146.31 and a beta of 1.19. The business has a 50-day moving average of $371.56 and a two-hundred day moving average of $391.06. MongoDB has a 12 month low of $226.10 and a 12 month high of $509.62.

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

Insider Activity

In other news, CRO Cedric Pech sold 1,430 shares of the business’s stock in a transaction that occurred 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 sale, 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 is available through this hyperlink. In related news, CRO Cedric Pech sold 1,430 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $348.11, for a total transaction 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 SEC, which is available through this link. Also, CEO Dev Ittycheria sold 17,160 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $348.11, for a total value of $5,973,567.60. Following the transaction, the chief executive officer now owns 226,073 shares of the company’s stock, valued at $78,698,272.03. The disclosure for this sale can be found here. In the last ninety days, insiders sold 64,802 shares of company stock worth $24,771,151. 4.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Transcendent Capital Group LLC bought a new position in MongoDB during the 4th quarter worth $25,000. Blue Trust Inc. grew its stake in shares of MongoDB by 937.5% in the fourth quarter. Blue Trust Inc. now owns 83 shares of the company’s stock worth $34,000 after purchasing an additional 75 shares in the last quarter. BluePath Capital Management LLC bought a new position in shares of MongoDB in the third quarter worth $30,000. AM Squared Ltd bought a new position in shares of MongoDB in the third quarter worth $35,000. Finally, Cullen Frost Bankers Inc. bought a new position in shares of MongoDB in the third quarter worth $35,000. 89.29% of the stock is currently owned by institutional investors.

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.