Needham Gives a Buy Rating to MongoDB (MDB)
In a report released today, Jack Andrews from Needham assigned a Buy rating to MongoDB (MDB), with a price target of $290.00. The company’s shares closed last Tuesday at $248.34, close to its 52-week high of $273.01.
According to TipRanks.com, Andrews is a 5-star analyst with an average return of 23.8% and a 67.6% success rate. Andrews covers the Technology sector, focusing on stocks such as LiveRamp Holdings, CommVault Systems, and Pegasystems.
MongoDB has an analyst consensus of Moderate Buy, with a price target consensus of $288.27.
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Based on MongoDB’s latest earnings release for the quarter ending July 31, the company reported a quarterly revenue of $138 million and GAAP net loss of $64.53 million. In comparison, last year the company earned revenue of $99.37 million and had a GAAP net loss of $37.34 million.
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MongoDB, Inc. engages in the development and provision of a general purpose database platform. Its 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. Merriman, Kevin P. Ryan, and Geir Magnusson Jr. in 2007 and is headquartered in New York, NY.