MongoDB (NASDAQ:MDB) Upgraded to Strong-Buy at KGI Securities

KGI Securities upgraded shares of MongoDB (NASDAQ:MDB) to a strong-buy rating in a research note published on Wednesday,Zacks.com reports.

A number of other analysts have also commented on MDB. DA Davidson reissued a “buy” rating and issued a $375.00 price objective on shares of MongoDB in a research report on Friday, May 29th. Piper Sandler boosted their price target on shares of MongoDB from $330.00 to $400.00 and gave the stock an “overweight” rating in a research report on Friday, May 29th. Robert W. Baird increased their price objective on shares of MongoDB from $260.00 to $335.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 20th. Tigress Financial lifted their target price on MongoDB from $430.00 to $515.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Finally, Bank of America upped their target price on MongoDB from $390.00 to $450.00 and gave the stock a “buy” rating in a report on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $400.41.

MongoDB Price Performance

Shares of MDB traded down $20.79 during midday trading on Wednesday, hitting $342.08. The stock had a trading volume of 1,401,758 shares, compared to its average volume of 1,434,766. The firm has a market cap of $27.51 billion, a price-to-earnings ratio of -924.54, a price-to-earnings-growth ratio of 1,308.71 and a beta of 1.55. The company has a 50 day simple moving average of $330.89 and a two-hundred day simple moving average of $327.77. MongoDB has a twelve month low of $198.47 and a twelve month high of $444.72.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Thursday, May 28th. The company reported $1.32 earnings per share (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 business had revenue of $687.62 million during the quarter, compared to the consensus estimate of $664.53 million. During the same period last year, the company earned $1.00 earnings per share. MongoDB’s quarterly revenue was up 25.2% on a year-over-year basis. MongoDB has set its FY 2027 guidance at 5.950-6.140 EPS and its Q2 2027 guidance at 1.580-1.610 EPS. Analysts forecast that MongoDB will post 0.02 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Michael J. Berry sold 5,000 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $356.63, for a total value of $1,783,150.00. Following the sale, the chief financial officer owned 1,500 shares in the company, valued at approximately $534,945. This represents a 76.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dev Ittycheria sold 40,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $383.16, for a total value of $15,326,400.00. Following the sale, the director directly owned 161,762 shares of the company’s stock, valued at $61,980,727.92. This represents a 19.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 139,746 shares of company stock valued at $50,247,978 over the last 90 days. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Legacy Wealth Asset Management LLC lifted its holdings in shares of MongoDB by 30.0% during the second quarter. Legacy Wealth Asset Management LLC now owns 1,204 shares of the company’s stock worth $404,000 after buying an additional 278 shares in the last quarter. Herbst Group LLC acquired a new position in shares of MongoDB in the second quarter valued at about $202,000. Everhart Financial Group Inc. acquired a new position in shares of MongoDB in the second quarter valued at about $381,000. PensionDanmark Pensionsforsikringsaktieselskab increased its position in MongoDB by 48.7% during the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 20,810 shares of the company’s stock worth $6,990,000 after acquiring an additional 6,819 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in MongoDB by 19.9% during 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 period. 89.29% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting MongoDB

Here are the key news stories impacting MongoDB this week:

• Positive Sentiment: KGI Securities upgraded MongoDB to strong-buy, adding to recent upbeat analyst sentiment around the stock. Zacks.com
• Positive Sentiment: Needham raised its price target on MongoDB to $430 from $400 and reiterated a buy rating, implying meaningful upside from current levels.
• Positive Sentiment: Truist also lifted its price target to $400 and kept a buy rating, reinforcing confidence in MongoDB’s growth outlook.
• Neutral Sentiment: MongoDB shareholders approved governance changes at the annual meeting, a routine corporate development that may be viewed as a long-term governance improvement. Article
• Neutral Sentiment: Citi highlighted AI beneficiaries ahead of software earnings, with MongoDB potentially benefiting from continued enterprise AI spending, though the note was broader industry commentary rather than a direct company-specific update. Article
• Negative Sentiment: Despite the favorable analyst action, MongoDB stock has been under pressure in recent trading, suggesting investors are taking profits or rotating out of the name even after positive fundamental and rating news. Article

MongoDB Company Profile

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.