MongoDB (NASDAQ:MDB) Price Target Raised to $415.00 at Needham & Company LLC

MongoDB (NASDAQ:MDB) had its price target increased by Needham & Company LLC from $335.00 to $415.00 in a report released on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

MDB has been the topic of several other reports. Bank of America boosted their target price on shares of MongoDB from $300.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Oppenheimer boosted their price target on MongoDB from $300.00 to $350.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Scotiabank increased their price objective on MongoDB from $250.00 to $295.00 and gave the company a “sector perform” rating in a report on Friday, August 30th. JMP Securities restated a “market outperform” rating and issued a $380.00 target price on shares of MongoDB in a report on Friday, August 30th. Finally, UBS Group lifted their price objective on MongoDB from $250.00 to $275.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $370.08.

MongoDB Trading Down 2.9 %

Shares of NASDAQ:MDB opened at $288.61 on Tuesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.03 and a current ratio of 5.03. The stock has a market capitalization of $21.32 billion, a price-to-earnings ratio of -95.57 and a beta of 1.17. MongoDB has a 1-year low of $212.74 and a 1-year high of $509.62. The company has a 50 day moving average price of $293.13 and a 200 day moving average price of $269.12.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Monday, December 9th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.48. The company had revenue of $529.40 million during the quarter, compared to analyst estimates of $497.39 million. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The business’s quarterly revenue was up 22.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.96 earnings per share. On average, research analysts anticipate that MongoDB will post -2.37 EPS for the current fiscal year.

Insider Buying and Selling

In other MongoDB news, Director Dwight A. Merriman sold 3,000 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total value of $768,750.00. Following the transaction, the director now directly owns 1,131,006 shares in the company, valued at $289,820,287.50. The trade was a 0.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Thomas Bull sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $355.92, for a total transaction of $355,920.00. Following the sale, the chief accounting officer now directly owns 15,068 shares of the company’s stock, valued at approximately $5,363,002.56. The trade was a 6.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,600 shares of company stock valued at $7,611,849 over the last quarter. Corporate insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

Large investors have recently bought and sold shares of the business. Cetera Advisors LLC grew its stake in shares of MongoDB by 106.9% during the first quarter. Cetera Advisors LLC now owns 1,558 shares of the company’s stock valued at $559,000 after purchasing an additional 805 shares during the last quarter. Diversified Trust Co raised its position in shares of MongoDB by 16.6% during the second quarter. Diversified Trust Co now owns 4,794 shares of the company’s stock worth $1,198,000 after acquiring an additional 683 shares during the last quarter. Baader Bank Aktiengesellschaft lifted its stake in shares of MongoDB by 66.4% during the second quarter. Baader Bank Aktiengesellschaft now owns 3,327 shares of the company’s stock valued at $826,000 after acquiring an additional 1,327 shares during the period. J.Safra Asset Management Corp boosted its holdings in MongoDB by 682.4% in the second quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock valued at $33,000 after acquiring an additional 116 shares during the last quarter. Finally, Swedbank AB boosted its stake in shares of MongoDB by 156.3% in the 2nd quarter. Swedbank AB now owns 656,993 shares of the company’s stock valued at $164,222,000 after purchasing an additional 400,705 shares during the last quarter. 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.