Scotiabank Has Positive Forecast for MongoDB FY2027 Earnings

MongoDB, Inc. (NASDAQ:MDB) – Research analysts at Scotiabank increased their FY2027 earnings per share estimates for shares of MongoDB in a report released on Friday, May 29th. Scotiabank analyst P. Colville now anticipates that the company will post earnings per share of ($0.32) for the year, up from their prior forecast of ($0.52). Scotiabank currently has a “Sector Outperform” rating and a $395.00 target price on the stock. The consensus estimate for MongoDB’s current full-year earnings is ($0.46) per share.

MongoDB (NASDAQ:MDB) last announced its earnings results on Thursday, May 28th. The company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.13. MongoDB had a negative return on equity of 1.39% and a negative net margin of 1.12%.The company had revenue of $687.62 million for the quarter, compared to analysts’ expectations of $664.53 million. During the same period last year, the firm earned $1.00 EPS. MongoDB’s revenue for the quarter was up 25.2% compared to the same quarter last year. MongoDB has set its FY 2027 guidance at 5.950-6.140 EPS and its Q2 2027 guidance at 1.580-1.610 EPS.

A number of other equities analysts have also recently commented on the company. Piper Sandler raised their target price on MongoDB from $330.00 to $400.00 and gave the stock an “overweight” rating in a report on Friday. The Goldman Sachs Group dropped their price target on shares of MongoDB from $475.00 to $320.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. Wedbush upped their price target on shares of MongoDB from $380.00 to $390.00 and gave the stock an “outperform” rating in a research report on Friday. Rosenblatt Securities reiterated a “buy” rating and issued a $385.00 price target on shares of MongoDB in a research report on Tuesday, May 26th. Finally, Weiss Ratings lowered shares of MongoDB from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, April 29th. Twenty-seven investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, MongoDB presently has a consensus rating of “Moderate Buy” and a consensus price target of $390.43.

MongoDB Stock Performance

Shares of MongoDB stock opened at $403.88 on Tuesday. MongoDB has a one year low of $183.64 and a one year high of $444.72. The stock’s fifty day moving average is $276.11 and its 200 day moving average is $333.69. The stock has a market cap of $32.46 billion, a P/E ratio of -1,091.57 and a beta of 1.48.

Institutional Investors Weigh In On MongoDB

Large investors have recently made changes to their positions in the company. Cornerstone Planning Group LLC increased its holdings in shares of MongoDB by 1,220.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 66 shares of the company’s stock worth $27,000 after purchasing an additional 61 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of MongoDB in the fourth quarter worth about $28,000. Huntington National Bank increased its holdings in shares of MongoDB by 110.9% in the third quarter. Huntington National Bank now owns 97 shares of the company’s stock worth $30,000 after purchasing an additional 51 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of MongoDB in the fourth quarter worth about $33,000. Finally, Cassaday & Co Wealth Management LLC bought a new stake in shares of MongoDB in the first quarter worth about $34,000. 89.29% of the stock is owned by institutional investors.

Insider Transactions at MongoDB

In other MongoDB news, Director Hope F. Cochran sold 1,566 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $249.33, for a total transaction of $390,450.78. Following the sale, the director directly owned 24,093 shares of the company’s stock, valued at $6,007,107.69. This trade represents a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dwight A. Merriman sold 6,000 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $314.98, for a total value of $1,889,880.00. Following the sale, the director directly owned 470,896 shares in the company, valued at approximately $148,322,822.08. This represents a 1.26% 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. Over the last three months, insiders have sold 31,566 shares of company stock worth $8,744,791. Insiders own 2.60% of the company’s stock.

About MongoDB

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.