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

MongoDB (NASDAQ:MDB - Get Free Report)'s stock had its "buy" rating reiterated by analysts at Needham & Company LLC in a research note issued on Thursday,Benzinga reports. They currently have a $270.00 target price on the stock. Needham & Company LLC's price target would suggest a potential upside of 19.80% from the company's current price.

A number of other research firms have also weighed in on MDB. Guggenheim raised their price objective on MongoDB from $235.00 to $260.00 and gave the company a "buy" rating in a research report on Thursday. The Goldman Sachs Group reduced their price objective on MongoDB from $390.00 to $335.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. Stifel Nicolaus reduced their price objective on MongoDB from $340.00 to $275.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $320.00 price objective on shares of MongoDB in a research report on Tuesday, May 20th. Finally, Barclays cut their target price on MongoDB from $280.00 to $252.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Eight equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $282.00.

MongoDB Price Performance

MDB stock traded up $25.65 on Thursday, reaching $225.38. 13,169,003 shares of the company traded hands, compared to its average volume of 1,945,019. MongoDB has a one year low of $140.78 and a one year high of $370.00. The company has a market cap of $18.30 billion, a P/E ratio of -82.26 and a beta of 1.40. The firm has a fifty day simple moving average of $175.65 and a 200-day simple moving average of $230.40.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its quarterly earnings data on Wednesday, June 4th. The company reported $1.00 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.35. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company had revenue of $549.01 million during the quarter, compared to analyst estimates of $527.49 million. During the same quarter last year, the company earned $0.51 EPS. The firm's revenue for the quarter was up 21.8% on a year-over-year basis. On average, sell-side analysts forecast that MongoDB will post -1.78 EPS for the current year.

Insider Transactions at MongoDB

In related news, CAO Thomas Bull sold 301 shares of MongoDB stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $173.25, for a total transaction of $52,148.25. Following the transaction, the chief accounting officer now directly owns 14,598 shares in the company, valued at approximately $2,529,103.50. The trade was a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Dev Ittycheria sold 18,512 shares of MongoDB stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total value of $3,207,389.12. Following the transaction, the chief executive officer now owns 268,948 shares in the company, valued at $46,597,930.48. This trade represents a 6.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,203 shares of company stock worth $3,848,569 in the last ninety days. Insiders own 3.10% of the company's stock.

Hedge Funds Weigh In On MongoDB

Several institutional investors and hedge funds have recently bought and sold shares of the stock. OneDigital Investment Advisors LLC lifted its position in MongoDB by 3.9% during the fourth quarter. OneDigital Investment Advisors LLC now owns 1,044 shares of the company's stock valued at $243,000 after purchasing an additional 39 shares in the last quarter. Avestar Capital LLC lifted its position in MongoDB by 2.0% during the fourth quarter. Avestar Capital LLC now owns 2,165 shares of the company's stock valued at $504,000 after purchasing an additional 42 shares in the last quarter. Aigen Investment Management LP lifted its position in MongoDB by 1.4% during the fourth quarter. Aigen Investment Management LP now owns 3,921 shares of the company's stock valued at $913,000 after purchasing an additional 55 shares in the last quarter. Handelsbanken Fonder AB lifted its position in MongoDB by 0.4% during the first quarter. Handelsbanken Fonder AB now owns 14,816 shares of the company's stock valued at $2,599,000 after purchasing an additional 65 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its position in MongoDB by 4.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,647 shares of the company's stock valued at $383,000 after purchasing an additional 75 shares in the last quarter. 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.