MongoDB (NASDAQ:MDB) Price Target Raised to $335.00 at Needham & Company LLC

MongoDB (NASDAQ:MDB) had its target price upped by investment analysts at Needham & Company LLC from $290.00 to $335.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 17.70% from the stock’s previous close.

Several other research analysts have also recently issued reports on the stock. Guggenheim raised shares of MongoDB from a “sell” rating to a “neutral” rating in a report on Monday, June 3rd. Bank of America boosted their price objective on shares of MongoDB from $300.00 to $350.00 and gave the stock a “buy” rating in a report on Friday. Robert W. Baird cut their target price on MongoDB from $450.00 to $305.00 and set an “outperform” rating on the stock in a research note on Friday, May 31st. Morgan Stanley boosted their price target on MongoDB from $320.00 to $340.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Loop Capital dropped their price objective on MongoDB from $415.00 to $315.00 and set a “buy” rating on the stock in a research report on Friday, May 31st. One analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $353.33.

MongoDB Stock Up 15.8 %

Shares of NASDAQ:MDB traded up $38.91 during midday trading on Friday, reaching $284.63. The company’s stock had a trading volume of 3,588,601 shares, compared to its average volume of 1,493,558. The company has a quick ratio of 4.93, a current ratio of 4.93 and a debt-to-equity ratio of 0.90. The firm has a 50 day moving average of $246.96 and a 200-day moving average of $317.33. The firm has a market capitalization of $20.88 billion, a P/E ratio of -100.58 and a beta of 1.13. MongoDB has a 12-month low of $212.74 and a 12-month high of $509.62.

MongoDB (NASDAQ:MDB) last announced its earnings results on Thursday, May 30th. The company reported ($0.80) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.80). MongoDB had a negative net margin of 11.50% and a negative return on equity of 14.88%. The business had revenue of $450.56 million during the quarter, compared to the consensus estimate of $438.44 million. On average, research analysts anticipate that MongoDB will post -2.67 earnings per share for the current year.

Insider Buying and Selling

In related news, CRO Cedric Pech sold 273 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $265.29, for a total value of $72,424.17. Following the completion of the transaction, the executive now owns 35,719 shares of the company’s stock, valued at approximately $9,475,893.51. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other MongoDB news, CRO Cedric Pech sold 273 shares of MongoDB stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $265.29, for a total transaction of $72,424.17. Following the completion of the transaction, the executive now directly owns 35,719 shares of the company’s stock, valued at $9,475,893.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Thomas Bull sold 138 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $265.29, for a total transaction of $36,610.02. Following the completion of the sale, the chief accounting officer now directly owns 17,222 shares in the company, valued at approximately $4,568,824.38. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,179 shares of company stock worth $7,368,989. Insiders own 3.60% of the company’s stock.

Institutional Trading of MongoDB

A number of large investors have recently made changes to their positions in the stock. Transcendent Capital Group LLC bought a new position in MongoDB in the fourth quarter worth approximately $25,000. MFA Wealth Advisors LLC bought a new stake in MongoDB during the 2nd quarter valued at $25,000. J.Safra Asset Management Corp grew its position in shares of MongoDB by 682.4% during the 2nd quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock worth $33,000 after buying an additional 116 shares in the last quarter. Quarry LP grew its position in shares of MongoDB by 2,580.0% during the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after buying an additional 129 shares in the last quarter. Finally, Hantz Financial Services Inc. purchased a new position in shares of MongoDB during the second quarter valued at $35,000. 89.29% of the stock is owned by hedge funds and other 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.