MongoDB’s (MDB) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of MongoDB (NASDAQ:MDB) in a research report released on Thursday morning,Benzinga reports. They currently have a $270.00 price target on the stock.

MDB has been the topic of a number of other research reports. Stifel Nicolaus cut their target price on shares of MongoDB from $340.00 to $275.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Macquarie lowered their price objective on shares of MongoDB from $300.00 to $215.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Cantor Fitzgerald initiated coverage on shares of MongoDB in a research report on Wednesday, March 5th. They set an “overweight” rating and a $344.00 price objective for the company. KeyCorp downgraded shares of MongoDB from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Finally, Robert W. Baird lowered their price objective on shares of MongoDB from $390.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Eight research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $282.47.

MongoDB Price Performance

Shares of MDB stock opened at $220.14 on Thursday. MongoDB has a 12 month low of $140.78 and a 12 month high of $370.00. The firm has a market capitalization of $17.87 billion, a P/E ratio of -80.34 and a beta of 1.40. The company’s fifty day moving average price is $176.52 and its two-hundred day moving average price is $229.93.

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

Insider Transactions at MongoDB

In other news, Director Hope F. Cochran sold 1,175 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $174.69, for a total transaction of $205,260.75. Following the transaction, the director now owns 19,333 shares in the company, valued at $3,377,281.77. This represents a 5.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Dev Ittycheria sold 18,512 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total transaction of $3,207,389.12. Following the transaction, the chief executive officer now owns 268,948 shares in the company, valued at approximately $46,597,930.48. This trade represents a 6.44% decrease in their position. 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 90 days. 3.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC increased its stake in shares of MongoDB by 181.8% during the 1st quarter. Acadian Asset Management LLC now owns 562,190 shares of the company’s stock worth $98,586,000 after purchasing an additional 362,705 shares during the last quarter. IFM Investors Pty Ltd grew its stake in MongoDB by 4.3% in the 1st quarter. IFM Investors Pty Ltd now owns 13,796 shares of the company’s stock valued at $2,420,000 after buying an additional 569 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in MongoDB by 11.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,271,444 shares of the company’s stock valued at $223,011,000 after buying an additional 129,451 shares during the last quarter. Woodline Partners LP grew its stake in MongoDB by 30,297.0% in the 1st quarter. Woodline Partners LP now owns 322,208 shares of the company’s stock valued at $56,515,000 after buying an additional 321,148 shares during the last quarter. Finally, Meiji Yasuda Life Insurance Co grew its stake in MongoDB by 36.1% in the 1st quarter. Meiji Yasuda Life Insurance Co now owns 3,997 shares of the company’s stock valued at $701,000 after buying an additional 1,060 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

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.