MongoDB (NASDAQ:MDB) Given “Buy” Rating at Needham & Company LLC

MongoDB (NASDAQ:MDB)‘s stock had its “buy” rating reissued by Needham & Company LLC in a report released on Tuesday, Benzinga reports. They presently have a $430.00 price target on the stock. Needham & Company LLC’s target price suggests a potential upside of 12.78% from the stock’s previous close.

Several other research firms have also recently issued reports on MDB. Weiss Ratings raised shares of MongoDB from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday. Morgan Stanley reaffirmed an “overweight” rating on shares of MongoDB in a research report on Wednesday, September 30th. Sanford C. Bernstein increased their price target on shares of MongoDB from $449.00 to $484.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 2nd. Citizens Jmp reaffirmed a “market outperform” rating and set a $519.00 price target on shares of MongoDB in a research note on Wednesday, September 30th. Finally, Truist Financial lifted their price target on shares of MongoDB from $400.00 to $475.00 and gave the company a “buy” rating in a report on Thursday, August 20th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, MongoDB presently has an average rating of “Moderate Buy” and an average target price of $462.91.

MongoDB Trading Down 1.2%

NASDAQ MDB opened at $381.29 on Tuesday. The business’s 50-day moving average price is $396.26 and its 200 day moving average price is $338.03. MongoDB has a twelve month low of $215.68 and a twelve month high of $473.10. The company has a market capitalization of $30.72 billion, a PE ratio of 537.03, a price-to-earnings-growth ratio of 41.46 and a beta of 1.74.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings results on Tuesday, September 1st. The company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.62 by $0.28. The company had revenue of $771.77 million during the quarter, compared to analysts’ expectations of $735.01 million. MongoDB had a return on equity of 1.06% and a net margin of 2.12%. The firm’s revenue was up 30.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $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. Equities analysts predict that MongoDB will post 0.47 EPS for the current year.

Insider Transactions at MongoDB

In related news, Director Charles M. Hazard, Jr. sold 595 shares of the firm’s stock in a transaction that occurred on Tuesday, October 6th. The shares were sold at an average price of $363.85, for a total value of $216,490.75. Following the transaction, the director owned 45,237 shares in the company, valued at approximately $16,459,482.45. This trade represents a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hope F. Cochran sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 17th. The shares were 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 $10,648,309.92. The trade was a 3.41% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 17,595 shares of company stock worth $8,008,811. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MongoDB

Large investors have recently made changes to their positions in the business. PensionDanmark Pensionsforsikringsaktieselskab lifted its holdings in shares of MongoDB by 48.7% during the 2nd 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 in the last quarter. Assenagon Asset Management S.A. increased its holdings in MongoDB by 19.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 128,080 shares of the company’s stock valued at $43,022,000 after purchasing an additional 21,273 shares in the last quarter. National Pension Service increased its holdings in MongoDB by 10.7% in the 2nd quarter. National Pension Service now owns 153,687 shares of the company’s stock valued at $51,623,000 after purchasing an additional 14,866 shares in the last quarter. Daventry Group LP raised its position in 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 purchasing an additional 14,412 shares during the period. Finally, SG Americas Securities LLC raised its position in MongoDB by 984.2% in the first quarter. SG Americas Securities LLC now owns 133,416 shares of the company’s stock valued at $32,656,000 after purchasing an additional 121,110 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

MongoDB Company Profile

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.