MongoDB (NASDAQ:MDB) Given New $270.00 Price Target at Needham & Company LLC

MongoDB (NASDAQ:MDB) had its target price lowered by Needham & Company LLC from $415.00 to $270.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts also recently issued reports about the company. Macquarie started coverage on MongoDB in a research note on Thursday, December 12th. They issued a “neutral” rating and a $300.00 target price for the company. Piper Sandler reaffirmed an “overweight” rating and issued a $425.00 target price on shares of MongoDB in a research note on Tuesday, December 10th. JMP Securities reaffirmed a “market outperform” rating and issued a $380.00 target price on shares of MongoDB in a research note on Wednesday, December 11th. Scotiabank reiterated a “sector perform” rating and set a $240.00 price target (down from $275.00) on shares of MongoDB in a report on Wednesday. Finally, Stifel Nicolaus increased their price target on MongoDB from $325.00 to $360.00 and gave the stock a “buy” rating in a report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $322.61.

MongoDB Stock Performance

NASDAQ MDB opened at $192.98 on Thursday. MongoDB has a one year low of $192.79 and a one year high of $413.87. The company has a market cap of $14.37 billion, a P/E ratio of -70.43 and a beta of 1.30. The business has a fifty day moving average price of $262.69 and a 200 day moving average price of $274.71.

MongoDB (NASDAQ:MDB) last issued its earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company had revenue of $548.40 million during the quarter, compared to analyst estimates of $519.65 million. During the same period last year, the business earned $0.86 earnings per share. As a group, sell-side analysts predict that MongoDB will post -1.78 EPS for the current fiscal year.

Insider Buying and Selling at MongoDB

In other MongoDB news, CAO Thomas Bull sold 1,000 shares of MongoDB 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 transaction, the chief accounting officer now owns 15,068 shares of the company’s stock, valued at $5,363,002.56. The trade was a 6.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $270.63, for a total value of $811,890.00. Following the completion of the transaction, the director now owns 1,109,006 shares in the company, valued at $300,130,293.78. This trade represents a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,314 shares of company stock valued at $13,337,753 in the last quarter. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MDB. Nisa Investment Advisors LLC grew its stake in shares of MongoDB by 3.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the company’s stock valued at $295,000 after purchasing an additional 40 shares during the last quarter. US Bancorp DE boosted its stake in shares of MongoDB by 9.1% in the third quarter. US Bancorp DE now owns 3,869 shares of the company’s stock valued at $1,046,000 after buying an additional 324 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of MongoDB in the third quarter valued at approximately $861,000. Principal Financial Group Inc. boosted its stake in shares of MongoDB by 2.7% in the third quarter. Principal Financial Group Inc. now owns 6,095 shares of the company’s stock valued at $1,648,000 after buying an additional 160 shares in the last quarter. Finally, Atria Investments Inc boosted its stake in shares of MongoDB by 6.6% in the third quarter. Atria Investments Inc now owns 2,175 shares of the company’s stock valued at $588,000 after buying an additional 135 shares in the last quarter. 89.29% of the stock is currently 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.