MongoDB (NASDAQ:MDB) Stock Rating Reaffirmed by Needham & Company LLC

MongoDB (NASDAQ:MDB - Get Free Report)'s stock had its "buy" rating reissued by equities researchers at Needham & Company LLC in a report issued on Thursday, Benzinga reports. They presently have a $465.00 target price on the stock. Needham & Company LLC's price objective indicates a potential upside of 27.00% from the stock's previous close.

A number of other research firms have also issued reports on MDB. JMP Securities restated a "market outperform" rating and issued a $440.00 price target on shares of MongoDB in a research report on Monday, January 22nd. Redburn Atlantic reiterated a "sell" rating and issued a $295.00 price objective (down from $410.00) on shares of MongoDB in a report on Tuesday, March 19th. Loop Capital began coverage on MongoDB in a report on Tuesday. They issued a "buy" rating and a $415.00 price objective on the stock. Guggenheim upped their price objective on MongoDB from $250.00 to $272.00 and gave the company a "sell" rating in a report on Monday, March 4th. Finally, Stifel Nicolaus restated a "buy" rating and set a $435.00 price target on shares of MongoDB in a research note on Thursday, March 14th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $443.86.

MongoDB Stock Performance

MDB traded down $3.16 on Thursday, reaching $366.13. 1,129,887 shares of the stock were exchanged, compared to its average volume of 1,381,501. The company's 50-day moving average price is $383.39 and its 200 day moving average price is $390.67. MongoDB has a fifty-two week low of $215.56 and a fifty-two week high of $509.62. 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 firm has a market capitalization of $26.67 billion, a PE ratio of -148.91 and a beta of 1.19.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its quarterly 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 firm had revenue of $458.00 million for the quarter, compared to analyst estimates of $431.99 million. As a group, sell-side analysts forecast that MongoDB will post -2.53 EPS for the current fiscal year.

Insider Activity at MongoDB

In related news, CFO Michael Lawrence Gordon sold 10,000 shares of MongoDB stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $469.84, for a total transaction of $4,698,400.00. Following the transaction, the chief financial officer now owns 70,985 shares in the company, valued at approximately $33,351,592.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, 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 value of $59,180.40. Following the sale, the chief accounting officer now 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 the SEC website. Also, CFO Michael Lawrence Gordon sold 10,000 shares of the company's stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $469.84, for a total transaction of $4,698,400.00. Following the completion of the sale, the chief financial officer now owns 70,985 shares in the company, valued at approximately $33,351,592.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,802 shares of company stock worth $35,936,911. 4.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MongoDB

A number of institutional investors have recently modified their holdings of MDB. Quadrant Capital Group LLC grew its position in MongoDB by 5.6% in the 4th quarter. Quadrant Capital Group LLC now owns 412 shares of the company's stock worth $168,000 after purchasing an additional 22 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in MongoDB by 12.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 226 shares of the company's stock worth $92,000 after purchasing an additional 25 shares during the last quarter. Insigneo Advisory Services LLC boosted its holdings in shares of MongoDB by 2.9% in the third quarter. Insigneo Advisory Services LLC now owns 1,070 shares of the company's stock valued at $370,000 after acquiring an additional 30 shares in the last quarter. Yousif Capital Management LLC boosted its holdings in shares of MongoDB by 3.9% in the fourth quarter. Yousif Capital Management LLC now owns 792 shares of the company's stock valued at $324,000 after acquiring an additional 30 shares in the last quarter. Finally, Valley National Advisers Inc. boosted its holdings in shares of MongoDB by 5.9% in the fourth quarter. Valley National Advisers Inc. now owns 597 shares of the company's stock valued at $244,000 after acquiring an additional 33 shares in the last quarter. 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.