MongoDB (NASDAQ:MDB) Stock Keeps “Outperform” Rating at Royal Bank Of Canada

MongoDB (NASDAQ:MDB)‘s stock had its “outperform” rating reaffirmed by equities researchers at Royal Bank Of Canada in a research note issued on Wednesday, MarketBeat reports. They presently have a $465.00 price target on the stock. Royal Bank Of Canada’s target price indicates a potential upside of 30.00% from the stock’s current price.

Several other equities research analysts have also commented on MDB. DA Davidson reiterated a “buy” rating and issued a $465.00 price objective on shares of MongoDB in a research note on Tuesday, September 29th. Wells Fargo & Company lifted their price target on shares of MongoDB from $375.00 to $475.00 and gave the stock an “overweight” rating in a report on Tuesday, August 25th. William Blair reiterated an “outperform” rating on shares of MongoDB in a research note on Monday, September 28th. Tigress Financial upped their price objective on MongoDB from $430.00 to $515.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Finally, KGI Securities began coverage on MongoDB in a research note on Wednesday, July 8th. They issued an “outperform” rating and a $470.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $462.59.

MongoDB Trading Down 0.1%

Shares of MDB traded down $0.26 on Wednesday, reaching $357.70. The company’s stock had a trading volume of 2,025,908 shares, compared to its average volume of 2,030,763. MongoDB has a twelve month low of $215.68 and a twelve month high of $473.10. The stock has a market capitalization of $28.82 billion, a PE ratio of 504.61, a PEG ratio of 38.46 and a beta of 1.74. The firm has a fifty day moving average of $391.09 and a 200-day moving average of $333.65.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Tuesday, September 1st. The company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.62 by $0.28. The firm had revenue of $771.77 million during the quarter, compared to analyst estimates of $735.01 million. MongoDB had a net margin of 2.12% and a return on equity of 1.06%. The company’s revenue for the quarter was up 30.5% on a year-over-year basis. During the same quarter last year, the business posted $1.00 EPS. MongoDB has set its Q3 2027 guidance at 1.570-1.610 EPS and its FY 2027 guidance at 6.390-6.580 EPS. As a group, equities analysts anticipate that MongoDB will post 0.47 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Dwight Merriman sold 10,000 shares of MongoDB stock in a transaction on Friday, August 14th. The shares were sold at an average price of $470.59, for a total value of $4,705,900.00. Following the transaction, the director owned 962,953 shares in the company, valued at $453,156,052.27. This trade represents a 1.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hope Cochran sold 1,000 shares of MongoDB stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $375.92, for a total transaction of $375,920.00. Following the completion of the transaction, the director owned 28,326 shares in the company, valued at approximately $10,648,309.92. The trade was a 3.41% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 17,000 shares of company stock worth $7,792,320. 2.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MongoDB

Large investors have recently added to or reduced their stakes in the business. Fiera Capital Corp raised its position in MongoDB by 33.6% in the 4th quarter. Fiera Capital Corp now owns 183,035 shares of the company’s stock worth $76,818,000 after purchasing an additional 46,051 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab increased its position in shares of MongoDB by 48.7% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 20,810 shares of the company’s stock valued at $6,990,000 after acquiring an additional 6,819 shares during the period. Assenagon Asset Management S.A. increased its position in shares of MongoDB by 19.9% in the second quarter. Assenagon Asset Management S.A. now owns 128,080 shares of the company’s stock valued at $43,022,000 after acquiring an additional 21,273 shares during the period. Entropy Technologies LP purchased a new position in shares of MongoDB in the fourth quarter valued at about $6,050,000. Finally, Daventry Group LP increased its position in shares of MongoDB by 21.3% in the first quarter. Daventry Group LP now owns 82,105 shares of the company’s stock valued at $20,097,000 after acquiring an additional 14,412 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.

About MongoDB

MongoDB, Inc develops and provides a general-purpose, document-oriented database platform. Its technology is designed to help organizations store, manage and analyze structured and unstructured data for applications such as artificial intelligence, analytics, mobile services, e-commerce and enterprise software.

The company’s principal offering is MongoDB Atlas, a fully managed cloud database service available across major cloud infrastructure providers. MongoDB also offers Enterprise Advanced, which provides commercial database software, security, operational controls and support for organizations running databases in their own environments or across hybrid and multicloud infrastructures.