Mongodb’s (MDB) “Buy” Rating Reaffirmed at Needham & Company LLC

Mongodb (NASDAQ:MDB)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a note issued to investors on Thursday, The Fly reports. They presently have a $130.00 price target on the stock, up from their prior price target of $108.00. Needham & Company LLC’s price objective would indicate a potential upside of 24.69% from the stock’s current price.

MDB has been the subject of several other reports. Canaccord Genuity reiterated a “buy” rating and issued a $95.00 price target (up from $78.00) on shares of Mongodb in a research report on Thursday, December 6th. They noted that the move was a valuation call. Monness Crespi & Hardt lifted their price target on Mongodb from $90.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, December 6th. Zacks Investment Research upgraded Mongodb from a “hold” rating to a “buy” rating and set a $97.00 price target for the company in a research report on Friday, January 11th. Finally, KeyCorp reiterated a “buy” rating and issued a $150.00 price target (up from $100.00) on shares of Mongodb in a research report on Thursday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $97.77.

Shares of MDB opened at $104.26 on Thursday. The firm has a market capitalization of $5.62 billion, a price-to-earnings ratio of -59.92 and a beta of 0.01. The company has a debt-to-equity ratio of 1.08, a quick ratio of 3.41 and a current ratio of 3.41. Mongodb has a 1 year low of $32.35 and a 1 year high of $109.97.

In other news, insider Thomas Bull sold 754 shares of the business’s stock in a transaction dated Wednesday, January 2nd. The stock was sold at an average price of $81.36, for a total value of $61,345.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Meagen Eisenberg sold 18,748 shares of the business’s stock in a transaction dated Thursday, December 27th. The shares were sold at an average price of $80.10, for a total value of $1,501,714.80. The disclosure for this sale can be found here. Insiders sold a total of 224,607 shares of company stock valued at $20,225,910 over the last quarter. Company insiders own 40.04% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pearl River Capital LLC bought a new stake in shares of Mongodb in the 4th quarter valued at about $25,000. Quantamental Technologies LLC bought a new stake in shares of Mongodb in the 4th quarter valued at about $33,000. PNC Financial Services Group Inc. bought a new stake in shares of Mongodb in the 4th quarter valued at about $34,000. TCI Wealth Advisors Inc. lifted its stake in shares of Mongodb by 17,133.3% in the 4th quarter. TCI Wealth Advisors Inc. now owns 517 shares of the company’s stock valued at $43,000 after acquiring an additional 514 shares during the last quarter. Finally, Rehmann Capital Advisory Group lifted its stake in shares of Mongodb by 1,556.5% in the 3rd quarter. Rehmann Capital Advisory Group now owns 762 shares of the company’s stock valued at $62,000 after acquiring an additional 716 shares during the last quarter. 64.66% of the stock is owned by institutional investors.

Mongodb Company Profile

MongoDB, Inc operates as a general purpose database platform worldwide. The company offers MongoDB Enterprise Advanced, a subscription package for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; MongoDB Atlas, a cloud-hosted database-as-a-service solution; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.

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Analyst Recommendations for Mongodb (NASDAQ:MDB)

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