MongoDB (NASDAQ:MDB) PT Raised to $430.00 at Needham & Company LLC

MongoDB (NASDAQ:MDB – Get Rating) had its target price lifted by Needham & Company LLC from $250.00 to $430.00 in a research note released on Friday morning, The Fly reports.

A number of other brokerages also recently commented on MDB. Royal Bank of Canada restated an outperform rating and set a $235.00 target price on shares of MongoDB in a report on Thursday, March 9th. Stifel Nicolaus cut their target price on MongoDB from $256.00 to $240.00 in a research note on Thursday, February 23rd. Morgan Stanley raised MongoDB from an equal weight rating to an overweight rating and increased their price objective for the company from $230.00 to $270.00 in a research report on Wednesday, April 12th. Credit Suisse Group dropped their price objective on MongoDB from $305.00 to $250.00 and set an outperform rating on the stock in a research report on Friday, March 10th. Finally, Tigress Financial reaffirmed a buy rating and set a $365.00 price objective on shares of MongoDB in a research report on Thursday, April 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $322.17.

MongoDB Stock Performance

Shares of NASDAQ MDB opened at $376.30 on Friday. MongoDB has a 12 month low of $135.15 and a 12 month high of $397.98. The company has a debt-to-equity ratio of 1.54, a current ratio of 3.80 and a quick ratio of 3.80. The business has a 50-day moving average of $244.10 and a 200-day moving average of $213.27.

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MongoDB (NASDAQ:MDB – Get Rating) last issued its earnings results on Thursday, June 1st. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.38. MongoDB had a negative return on equity of 44.73% and a negative net margin of 23.58%. The business had revenue of $368.28 million during the quarter, compared to analyst estimates of $347.77 million. During the same quarter in the prior year, the firm earned ($1.15) earnings per share. MongoDB’s revenue for the quarter was up 29.0% on a year-over-year basis. As a group, sell-side analysts expect that MongoDB will post -4.04 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Thomas Bull sold 605 shares of MongoDB stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $228.34, for a total transaction of $138,145.70. Following the transaction, the chief accounting officer now owns 17,706 shares in the company, valued at $4,042,988.04. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other MongoDB news, CTO Mark Porter sold 2,673 shares of MongoDB stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $250.00, for a total value of $668,250.00. Following the sale, the chief technology officer now owns 40,336 shares in the company, valued at $10,084,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Thomas Bull sold 605 shares of MongoDB stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $228.34, for a total value of $138,145.70. Following the completion of the sale, the chief accounting officer now owns 17,706 shares in the company, valued at approximately $4,042,988.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 81,013 shares of company stock worth $18,896,567. 4.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MongoDB

Institutional investors have recently modified their holdings of the company. Bessemer Group Inc. acquired a new stake in shares of MongoDB in the fourth quarter valued at $29,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in MongoDB during the 4th quarter worth about $30,000. Global Retirement Partners LLC lifted its holdings in MongoDB by 346.7% during the 1st quarter. Global Retirement Partners LLC now owns 134 shares of the company’s stock worth $30,000 after buying an additional 104 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in MongoDB by 350.0% during the 4th quarter. Lindbrook Capital LLC now owns 171 shares of the company’s stock worth $34,000 after buying an additional 133 shares during the last quarter. Finally, Y.D. More Investments Ltd purchased a new stake in MongoDB during the 4th quarter worth about $36,000. 84.86% of the stock is owned by institutional investors and hedge funds.

About MongoDB

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MongoDB, Inc engages in the development and provision of a general-purpose database platform. The firm’s products include MongoDB Enterprise Advanced, MongoDB Atlas and Community Server. It also offers professional services including consulting and training. The company was founded by Eliot Horowitz, Dwight A.