MongoDB (NASDAQ:MDB) Stock Rating Reaffirmed as “Buy” by Needham & Company LLC

MongoDB (NASDAQ:MDB)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $430.00 price objective on the stock. Needham & Company LLC’s target price would indicate a potential upside of 20.21% from the company’s previous close.

Other analysts also recently issued research reports about the stock. Stifel Nicolaus lowered their target price on shares of MongoDB from $465.00 to $385.00 and set a “buy” rating on the stock in a report on Wednesday, September 30th. Morgan Stanley restated an “overweight” rating on shares of MongoDB in a research report on Wednesday, September 30th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $465.00 price objective on shares of MongoDB in a report on Wednesday, September 30th. Oppenheimer raised their price target on MongoDB from $410.00 to $475.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $519.00 price objective on shares of MongoDB in a report on Wednesday, September 30th. Two equities research 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 company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $462.91.

MongoDB Stock Performance

NASDAQ MDB traded up $1.42 during trading on Tuesday, reaching $357.71. The company’s stock had a trading volume of 754,383 shares, compared to its average volume of 2,018,754. The business’s fifty day moving average price is $395.72 and its 200-day moving average price is $339.73. MongoDB has a twelve month low of $215.68 and a twelve month high of $473.10. The firm has a market cap of $28.82 billion, a price-to-earnings ratio of 504.37, a P/E/G ratio of 40.08 and a beta of 1.74.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Tuesday, September 1st. The company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.28. The firm had revenue of $771.77 million for the quarter, compared to analyst estimates of $735.01 million. MongoDB had a return on equity of 1.06% and a net margin of 2.12%. The business’s revenue was up 30.5% on a year-over-year basis. During the same quarter last year, the company posted $1.00 earnings per share. 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, sell-side analysts forecast that MongoDB will post 0.47 EPS for the current fiscal year.

Insider Transactions at MongoDB

In related news, Director Hope Cochran sold 1,000 shares of the business’s stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $375.92, for a total value of $375,920.00. Following the sale, the director directly owned 28,326 shares in the company, valued at $10,648,309.92. The trade was a 3.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dwight Merriman sold 10,000 shares of the stock in a transaction dated Thursday, October 8th. The shares were sold at an average price of $359.97, for a total transaction of $3,599,700.00. Following the completion of the sale, the director directly owned 952,953 shares in the company, valued at approximately $343,034,491.41. The trade was a 1.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 31,595 shares of company stock valued at $13,065,211 in the last 90 days. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MongoDB

A number of institutional investors have recently made changes to their positions in MDB. PensionDanmark Pensionsforsikringsaktieselskab grew its holdings in MongoDB by 48.7% in the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 20,810 shares of the company’s stock valued at $6,990,000 after buying an additional 6,819 shares during the period. Assenagon Asset Management S.A. boosted 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 worth $43,022,000 after acquiring an additional 21,273 shares during the last quarter. National Pension Service grew its holdings in MongoDB by 10.7% in the second 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 during the period. Daventry Group LP grew its holdings 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 increased its position in MongoDB by 984.2% during the first quarter. SG Americas Securities LLC now owns 133,416 shares of the company’s stock worth $32,656,000 after purchasing an additional 121,110 shares during the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

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.