Mongodb (MDB) Upgraded at Needham & Company LLC

Mongodb (NASDAQ:MDB) was upgraded by stock analysts at Needham & Company LLC from a “hold” rating to a “buy” rating in a report released on Wednesday, Marketbeat.com reports. The firm currently has a $34.00 target price on the stock. Needham & Company LLC’s target price would indicate a potential upside of 12.84% from the stock’s previous close. The analysts noted that the move was a valuation call.

MDB has been the subject of a number of other research reports. Zacks Investment Research raised shares of Mongodb from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a report on Friday, January 19th. Canaccord Genuity began coverage on shares of Mongodb in a report on Wednesday, December 13th. They issued a “buy” rating for the company. Canaccord Genuity Group began coverage on shares of Mongodb in a report on Wednesday, November 15th. They issued a “buy” rating and a $35.00 price target for the company. Stifel Nicolaus began coverage on shares of Mongodb in a report on Monday, November 13th. They issued a “buy” rating and a $34.00 price target for the company. Finally, Morgan Stanley began coverage on shares of Mongodb in a report on Monday, November 13th. They issued an “equal weight” rating and a $31.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Mongodb has an average rating of “Hold” and a consensus target price of $33.33.

Mongodb (NASDAQ MDB) traded up $1.98 on Wednesday, hitting $30.13. 422,640 shares of the company’s stock traded hands, compared to its average volume of 168,066. Mongodb has a twelve month low of $24.62 and a twelve month high of $34.00.

Mongodb (NASDAQ:MDB) last released its quarterly earnings data on Tuesday, December 12th. The company reported ($1.39) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.90). The business had revenue of $41.50 million for the quarter, compared to analyst estimates of $37.21 million. The firm’s quarterly revenue was up 57.8% on a year-over-year basis. equities research analysts forecast that Mongodb will post -1.9 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of MDB. Thompson Davis & CO. Inc. purchased a new stake in Mongodb in the 4th quarter worth about $103,000. Brighton Jones LLC purchased a new stake in Mongodb in the 4th quarter worth about $214,000. Wolverine Trading LLC purchased a new stake in Mongodb in the 4th quarter worth about $295,000. Bamco Inc. NY purchased a new stake in Mongodb in the 4th quarter worth about $297,000. Finally, Wolverine Asset Management LLC purchased a new stake in Mongodb in the 4th quarter worth about $445,000. 3.18% of the stock is currently owned by institutional investors.

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Mongodb Company Profile

MongoDB, Inc is a modern, general purpose database platform. Its platform is designed to run applications at scale across a broad range of use cases in the cloud, on-premise or in a hybrid environment. Its primary subscription package is MongoDB Enterprise Advanced, which includes its proprietary database server, security, enterprise management capabilities, its graphical user interface, analytics integrations and technical support.

Analyst Recommendations for Mongodb (NASDAQ:MDB)

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