MongoDB (NASDAQ:MDB) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of MongoDB (NASDAQ:MDB) in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a $465.00 target price on the stock.

A number of other analysts have also commented on MDB. Citigroup boosted their target price on MongoDB from $515.00 to $550.00 and gave the company a buy rating in a research report on Wednesday, March 6th. KeyCorp decreased their target price on MongoDB from $490.00 to $440.00 and set an overweight rating for the company in a research report on Thursday, April 18th. JMP Securities reissued a market outperform rating and set a $440.00 price objective on shares of MongoDB in a report on Monday, January 22nd. Redburn Atlantic reissued a sell rating and set a $295.00 price objective (down from $410.00) on shares of MongoDB in a report on Tuesday, March 19th. Finally, Stifel Nicolaus reissued a buy rating and set a $435.00 price objective on shares of MongoDB in a report on Thursday, March 14th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $443.86.

MongoDB Price Performance

Shares of MDB opened at $366.13 on Thursday. The stock’s 50-day moving average price is $381.23 and its two-hundred day moving average price is $390.50. MongoDB has a 12 month low of $215.56 and a 12 month high of $509.62. The company has a quick ratio of 4.40, a current ratio of 4.40 and a debt-to-equity ratio of 1.07.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Thursday, March 7th. The company reported ($1.03) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $458.00 million during the quarter, compared to the consensus estimate of $431.99 million. As a group, research analysts expect that MongoDB will post -2.53 EPS for the current year.

Insider Transactions at MongoDB

In related news, Director Dwight A. Merriman sold 2,000 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $365.00, for a total value of $730,000.00. Following the transaction, the director now owns 1,154,784 shares of the company’s stock, valued at $421,496,160. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other MongoDB news, Director Dwight A. Merriman sold 2,000 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $365.00, for a total transaction of $730,000.00. Following the completion of the sale, the director now directly owns 1,154,784 shares in the company, valued at $421,496,160. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Thomas Bull sold 170 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $348.12, for a total transaction of $59,180.40. Following the sale, the chief accounting officer now owns 17,360 shares of the company’s stock, valued at $6,043,363.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,802 shares of company stock valued at $35,936,911. 4.80% of the stock is currently owned by company insiders.

Institutional Trading of MongoDB

Institutional investors have recently modified their holdings of the company. Transcendent Capital Group LLC purchased a new stake in MongoDB in the fourth quarter worth about $25,000. BluePath Capital Management LLC purchased a new stake in MongoDB in the third quarter worth about $30,000. Blue Trust Inc. lifted its holdings in MongoDB by 937.5% in the fourth quarter. Blue Trust Inc. now owns 83 shares of the company’s stock worth $34,000 after buying an additional 75 shares during the period. Cullen Frost Bankers Inc. bought a new position in shares of MongoDB during the third quarter valued at approximately $35,000. Finally, AM Squared Ltd bought a new position in shares of MongoDB during the third quarter valued at approximately $35,000. 89.29% of the stock is currently owned by hedge funds and other 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.